Royal Bank of Scotland (RBS) is behind the scheme, which allows cards to be credited with different values online - on stores' websites - or in-store. Five further retailers are planning to launch cards before Christmas.
The cards will enable retailers to track customer expenditure when they are swiped in-store.
Unlike paper vouchers, which do not allow change to be given, the monetary difference between what is given as a gift and what is spent remains on the card, which retailers hope will encourage repeat purchases.
The cards are already popular in the US, where they account for about 80% of the $40bn (£22.5bn) voucher market since the technology was introduced five years ago. According to US figures, an average card value of $38 (£21.40) results in an extra $18 (£10.10) being spent in the store.
The UK voucher market is worth £1.18bn a year, with sales of vouchers up 6.8% between 2002 and 2003.
RBS and its technology partner TSYS are confident that UK take-up will match that of the US, where retailers such as department store Nordstrom have experienced a 40%-45% increase in the value of vouchers sold.
A further benefit is that retailers could charge a fee to recoup the cost of managing cards that have been idle for a set time. In the US, some retailers charge $1 a month after two years has elapsed.
In-store marketing of the electronic cards gives retailers greater opportunities, as no set value is charged onto the card until it is paid for at checkout. This not only offers gift buyers more choice as to the amount they want to give, it also means that 'valueless' cards can be distributed throughout stores to encourage take-up.
As well as branded cards, generic gift cards that don't specify retailers are on offer - a book token card to spend in any bookstore, for example.
Another option is for employers to use them for incentive schemes to reward members of staff.
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