What technology, consumer behaviour and adoption patterns are reshaping how the incentives, rewards, and gift card industry operates?
To find out, we brought together four industry leaders on a pencil to share their first-hand insights: Marina Hodges (EVP, Merchant and Payments at SKUx), Anne Jetter (Strategic Sales & Buyer Relations Executive at SB Collectiv), Hannah Shimko (Director at GCVA), and Eric Thiegs (Head of Strategy and Growth at NeoCurrency).
Drawing on research, client conversations, conferences, and real-world experience, the panel explored key trends. Here’s the summary.
Top takeaways from the panel
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Let’s delve into the important learnings from the session.
Practical technological changes are coming
Eric Thiegs highlighted how AI is already influencing both consumer behaviour and B2B operations. On the consumer side, the rise of agentic commerce means AI-powered tools are increasingly guiding purchasing decisions and supporting checkout journeys.
This shift has clear implications for incentives and gift cards, particularly in how trust, payments, privacy, and fraud prevention are managed.
On the B2B side, AI is also introducing new complexity. Businesses are seeing more AI-related clauses in contracts, with clients asking detailed questions about data handling, potential exposure of personal information, and whether AI tools are being used at all.
As Eric noted, “AI tools are going to make everything so much more efficient and quicker.” The challenge is whether organisations are ready for the operational and compliance changes that come with that shift.
Fraud prevention is evolving alongside this. AI-powered monitoring is already being used to identify unusual purchasing behaviour and protect brands, customers, and processors. Rather than relying solely on fixed rules, AI can detect patterns that fall outside expected norms.
The panel also highlighted practical measures such as secure reward links, masked codes, and activation at the point of use, reducing the risk of exposing sensitive information.
Self-use is changing the role of gift cards
Hannah Shimko explored one of the most significant behavioural shifts: the rise of self-use.
Gift cards are no longer seen purely as gifts. Increasingly, they are used as a payment mechanism, helping consumers budget, save, and manage everyday spending.
GCVA data shows that B2B remained the largest UK segment in the second half of 2025, accounting for 52% of total sales. Within this, employee benefits, rewards, incentives, and salary-sacrifice schemes are playing a growing role.
This shift changes how gift cards are perceived. They are not just a reward, but a practical financial tool — helping users stretch household budgets, access discounts, and manage spending more effectively.
It also has wider implications for the retail economy. Unlike cash, which may be used for bills or debt, gift cards are typically spent within retail environments, supporting brands and the high street.
For businesses, this raises an important question: are rewards aligned with how people actually want to use them?
Multi-brand cards meet the demand for choice
Multi-brand cards are gaining traction because they offer recipients greater control, allowing them to choose how and where to spend their reward. This is particularly valuable in employee incentive programmes, where a single reward must appeal to diverse preferences and lifestyles.
The panel discussed how choice can drive engagement, morale, and retention. When recipients feel they have control, the reward feels more meaningful.
There are also behavioural benefits. Multi-brand incentives can encourage repeat store visits, higher-value purchases, and exploration of new brands.
Eric noted that some organisations are using choice cards to replicate an “Amazon-like” experience – offering a broad selection of brands while maintaining flexibility for programme owners.
However, more choice is not always better. Too many options can overwhelm users, so effective programmes focus on curated, categorised selections such as dining, home, or wellness, rather than presenting an unstructured list of brands.
Digital & physical rewards matter
Digital gift cards continue to grow rapidly. In markets like the UK, they now account for more than half of all gift card sales, with younger consumers driving adoption through mobile wallets and digital-first experiences.
However, physical cards are not disappearing.
The panel noted that many consumers still value the tangible experience of giving and receiving a physical card. For certain occasions, physical rewards feel more personal and emotionally impactful.
A digital reward may be efficient, but a physical one can feel more considered.
As one panelist put it, “You’ve got to have your feet in both worlds.”
The discussion also highlighted a gap between general mobile wallet usage and gift card integration. While many consumers regularly use Apple Pay or Google Pay, gift cards have not always kept pace.
For brands that have not prioritised add-to-wallet functionality, this may quickly become a competitive disadvantage.
We need to start turning data into action
A recurring theme was the gap between data availability and data usage.
The industry has access to more insight than ever, supported by research from organisations such as GCVA, Javelin, and IRF. However, the real opportunity lies in translating that insight into action.
Understanding trends is only the first step. Businesses need to apply those insights to improve programme design, enhance customer experience, and inform strategic decisions.
As one panelist summarised: “It’s not about collecting data. It’s activating it.”
Relationships still drive our industry
Despite rapid advances in AI and automation, the panel emphasised that relationships remain central.
Trust underpins everything, from fraud prevention and data management to partnerships and programme delivery. As the ecosystem becomes more complex, strong relationships between brands, distributors, and clients become even more important.
Technology may enable the market, but it does not replace the need for human connection.
What’s next for the market?
Looking ahead, the panel identified several themes shaping the future of the incentives industry.
- Integration over isolation: Success will come from connecting AI, fraud prevention, data, digital and physical experiences into a unified strategy.
- Smarter choice: The focus will shift from more options to better, more relevant ones.
- Mobile wallet growth: As digital payments become more embedded in daily life, wallet integration will become increasingly important.
- Continued evolution: The market is still developing, with space for new models, new players, and new approaches.
Gift cards are no longer just about gifting. They are becoming embedded in payments, incentives, benefits, and everyday spending, and the industry will continue to evolve alongside them.
Thank you to everyone who joined the panel and shared their perspectives. It’s these conversations that continue to shape and strengthen our industry. Would you like to suggest another topic? Contact us at membership@wiin.global
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Written by Elaine Keep www.elainekeep.com