R8 is rebranding as Mode to bring together the group’s separate businesses under one common identity.

The UK-based FinTech firm has also announced the appointment of ex-Alipay executive Rita Liu to its leadership team.

As chief commercial officer and a director on the board, she will be responsible for the business’ strategy and commercial partnerships.

Liu was one of the pioneers of Alipay’s international business a head of EMEA, and later chief executive of Alipay UK, holding roles responsible for business development and partnerships in Asia, the US and Europe.

R8 previously operated several ventures including the Mode app - which lets users manage their Sterling, Euro and Bitcoin from a single platform - as well as payments and marketing provider JGOO.

Mode chairman Jonathan Rowland said: "Our rebrand signals the evolution of the group, which will deliver enhanced financial services tailored to a new post-COVID norm where the transition to online and mobile interactions is accelerating.

"We have ambitious plans for Mode as we seek to leverage the opportunities that faster digitalisation will bring for society and our economy, and today’s relaunch will help us meet our objectives."

Liu added: “We’re here to disrupt the industry and I’m excited to be a part of Mode’s plans for the future.”

In addition to its existing services, Mode is seeking to expand its proposition by developing a novel payment solution that integrates loyalty into the user payment experience.

This feature would give Mode app users the ability to make payments and engage with their favourite brands using both their traditional and digital currencies. Merchants would be able to directly engage with consumers, through a smarter and more integrated alternative to traditional payments.

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