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The company has also launched what it claims is a pioneering mobile wallet that will allow members to swap rewards points by means of mobile phones.

The coalition, which is due to launch this summer, will be used to drive Swapits membership from 250,000 to 1.5 million over the next 18 months.

Swapits chief executive Jonathan Attwood said the company was taking part in discussions with brands in the music, games and food sectors, with the deals expected to be signed off within the next two months.

"Unlike other promotional techniques, where it is something for nothing, Swapits encourages children to learn to save and be responsible with currency.

Parents like it, and that's not happened before," claimed Attwood.

The mobile phone wallet is a peer-to-peer application that will allow the transfer of Swapits directly between youths, allowing them to buy and sell goods. It will also enable them to redeem and credit Swapits in-store via their phones. A Swapits Reward card will be launched at the same time, co-branded with SwapitShop partners.

Currently, Swapits allows kids and teens to earn loyalty points, which they can use to buy items such as CDs, games and comics from other members.

The company has partnered with Vivendi Universal, Eidos and Disney in the past.

Games company Eidos used Swapits last month to launch its Whiplash game. Eidos used a team of 400 brand ambassadors, who were recruited by Swapits and rewarded with points for completing tasks such as posting reviews and showing their friends how the game works.