Appreciate Group inks partnership with PayPoint

Retail and rewards company Appreciate Group has inked a new partnership with PayPoint that will see the former's gifting products offered to consumers via the latter's network of 28,000 retailer partner stores across the UK.

Appreciate said on Thursday that consumers will be able to purchase its Love2Shop e-gift cards at PayPoint outlets, which can then be used at high street and online brands, including Argos, Halfords, Marks & Spencer, ASOS, Costa and Uber Eats.

The AIM-listed group stated it was also working with PayPoint to supply retailers with marketing support in order to increase in-store awareness.

Chief executive Ian O'Doherty said:"This is an exciting opportunity for Appreciate Group as the partnership provides our first physical distribution network for Love2Shop e-gift cards. Overnight, it provides us with a network of 28,000 stores that reach into the heart of communities throughout the UK.

"Following recent success in building out our digital offering, this agreement further enhances our offer and adds depth to how customers can access our products. Looking ahead, working with partners who we believe can strengthen our proposition and help us drive growth, such as PayPoint, is a key component of our plans for future growth."

As of 0955 BST, Appreciate shares were up 7.14% at 39.0p.