As Christmas and Black Friday approaches retailers in the West End, London's busiest shopping district which includes Oxford Street, Bond Street, Regent Street and the surrounding areas have teamed up to launch a new chip and pin gift card.
As a result of retailers in the West End noticing an increase in voucher purchases for Christmas, the new gift card has been created.
The 18-month scheme is set to pilot this week which will allow shoppers in the area to use the card at any store that takes chip and pin and MasterCard payments.
While previous gift cards for the area have had a maximum spend of £1,000, the new card can hold up to £5000. The card will be available to purchase online and has also been designed to attract overseas tourists who visit the West End's luxury retailers.
According to Retail Week, New West End Company said that this gift card is "a first to the market".
The company added that there is a possibility of the cards being sold via mobile and in stores in the future.