According to the UK Gift Card and Voucher Association, sales of business-to-business sales of gift cards and vouchers were a significant driver of industry wide growth, reports Payments Journal.
According to the trade group, B2B gift card and voucher sales grew by 5.56 percent during Q1, helping to boost overall growth 10.53 percent.
The latest data indicates that growth in this market in the UK is much more dynamic than its counterpart market in the U.S. During the last two year, American B2B card use, and prepaid use in general, have been largely flat.
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