PayPoint has revealed it is rolling out Love2shop gift cards to more than 2,600 stores.

Shops including One Stop, Greens Retail, Sewell’s, Scotmid Co-op, CJ Lang, Henderson’s Retail and MFG will now allow customers to purchase physical gift cards for the first time.

The extension of the Love2shop vouchers was supported by PayPoint’s partnership with the Appreciate Group, which it acquired in February this year.

Love2shop was integrated into the PayPoint Group earlier this year, and allows credit to be spent on multiple retailers including M&S, TK Maxx and Iceland.

PayPoint acquires Appreciate Group to give stores voucher sales uplift

Anthony Sappor, retail proposition and partnerships director, PayPoint, said: “The UK gift card sector is valued in excess of £8 billion per year, so Love2shop gift cards offer the chance to significantly boost our share of that market and expand our capabilities in the gifting, rewards and prepaid savings sectors.

“The strategic acquisition of Love2shop provided PayPoint with access to one of the UK’s leading digital platforms for employee and customer rewards, as well as its 400,000 customers and established brand partners. As part of our ongoing strategy, we will continue to find opportunities to maximise returns from the acquisition to deliver continued value for our business and its shareholders.”

“Once the rollout of the gift cards is complete into the multiple retailer groups, we will be focusing on working with our independent stores to make the gift cards available in early 2024.”

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