Swapits are the online trading system that children and teens can earn on , an eBay-style auction website. The site enables children to put unwanted items up for auction on its site, which are bid for with Swapits. Items are sold to the highest bidder and are sent to SwapitShop, which repackages and redirects them to the buyer.
The company plans to launch a reward card, which will be co-branded with SwapitShop partners. It would operate in a similar way to the Nectar scheme, where shoppers are rewarded for shopping at a variety of stores, including Sainsbury's, Thresher and BP.
Swapits has confirmed that it is in discussions with a number of "brand leaders" in different markets including music, food and games. It aims to have 15 partners signed up to the programme by the end of the year.
Jonathan Atwood, Swapits chief executive, said: "Swapits offer kids and teens all the benefits of a national loyalty programme, giving them then opportunity to earn their own 'money' that they can spend on the things they want, but also encouraging them to save and to learn to be responsible with their 'cash'."
Membership is 58% boys and 42% girls, with members aged between six and 18 years old.
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