Miconex said it is setting up 11 new programmes to its Town and City gift card which will go live before the Christmas trading period.

Miconex, which works with towns and cities across the UK to help them develop consumer gift card programmes, expects to finish 2019 with a total of 40 gift card programmes.

Nearly 30 destinations, including some of the largest UK cities, are already part of the Town and City gift card, which is launched in Perth in 2015. There are currently over 6,000 businesses that accept the card.

Miconex said the gift cards have helped to keep over £1 million within local high streets since the launch.

The prepaid card, which uses the existing Mastercard infrastructure, allows local people to buy a gift for friends, family and colleagues. People who redeem gift cards on average spend 40 percent more than the value received, Miconex said.

Besides independent businesses, the card is also accepted by major high street anchor stores such as M&S, John Lewis and Debenhams.