Cheshire-based travel company, Inspire, has announced that it is now operating its Travel Card by Inspire on a newly developed trust account model.
The trust account was created during the period of lockdown and launched in April 2021.
Inspire’s Group CEO, Peter Pantelides, says that the trust account is the first of its kind in the UK for a gift card retailer, and has been established as a result of the company wanting to offer its customers the highest level of financial protection.
He said: “In the wake of the pandemic, consumer confidence in the travel industry has taken a knock and we wanted to find a way of reassuring our travel gift card customers that their money is completely safe in any eventuality. By operating our own trust account, it means that we can offer 100 per cent financial protection.”
Pantelides went on to explain that other gift card providers can’t make the same guarantees, which means if their business fails, their gift card holders and any corporate clients holding stock, lose out too.
He continued: “Inspire has seen a dramatic renewal in appetite for the gift cards. In the first two months of the new financial year, since the start of April, sales stand at more than 150 per cent of what was sold in the whole of the previous financial year.”
The travel gift card can be redeemed for holidays, cruises, flights, UK staycation breaks, weekend trips, and holiday ancillaries, such as airport lounges, transfers, parking and car hire.
Inspire works with numerous corporate customers across the UK who use the cards to reward, recognise and motivate their employees, drive third-party channel business, incentivise sales staff, and run consumer sales promotions.
Pantelides continued: “Travel is a very powerful and flexible reward offering and appeals to just about everybody. We have more than 10 years of running a travel gift card, and with the new trust account model in place, we believe it’s the most trusted gift card proposition in the market today.”