Cashflows are delighted to be working with Collection Pot to offer Tesco Digital Gift Cards as part of Collection Pots' significant and growing portfolio of redemption partner retail brands.
The new partnership comes as recent data shows a sustained increase in spending on grocery outlet gift cards and ecodes. Research from the Gift Card and Voucher Association has revealed that digital gifting accounts for 26% of all UK gift card purchases and this rises to 50% for online gift card spending.
The trend for ecodes is expected to increase further amid the coronavirus outbreak, with social distancing rules prompting a switch to online shopping for many people.
Tesco Digital Gift Cards offered through Collection Pot can be spent on any product sold in more than 2,500 stores across the UK, including Tesco’s Superstore, Metro, Express and Extra outlets.
Adding Tesco alongside other flagship brands including John Lewis, Gap and Marks & Spencer to name but a few, broadens consumers’ options to spend remotely in this challenging period of lockdown.
Collection Pot, which has partnered with multi-channel payments specialist Cashflows to deliver secure payment processing for users, is designed to bring a convenient and personalised way of raising money for birthday presents, workplace rewards, special occasions and good causes.
Users simply sign-in and create a customised ‘pot’ before inviting donors to contribute.
Wendy Carter, Founder of Collection Pot, said the partnership with Tesco had further enhanced the platform’s already compelling proposition.
She commented: “Collection Pot was created to bring convenience to group collections for different life events and celebrations in a world where more families live apart, employees work remotely, and cash is in decline. Adding Tesco to our catalogue of redemption partners truly supercharges our offering to consumers, particularly at a time when more people’s focus is on buying life’s essentials like groceries and toiletries, and not the normal luxuries associated with gifting.”
Amanda Mesler, Chief Executive Officer at CashFlows, said: “As a result of the coronavirus, more people than ever have become reliant on digital payments. We’re pleased to be associated with Collection Pot and help in their mission to digitally streamline the act of group collections at such a crucial time. Whether it be for a special occasion or a worthy cause, our technology is helping this process run smoothly, not just for Collection Pot, but for the customers they support.”