Master of Malt creates ‘interest-bearing’ vouchers

Online drinks retailer Master of Malt has claimed to “revolutionise” the concept of gift vouchers with the launch of non-expiring coupons that generate interest over time.

Master of Malt has launched an “interest-bearing” gift voucher ahead of Christmas

Individually available for between £10 and £500, the vouchers grow in interest by 5% for every year they are not spent.

Master of Malt has also applied the same interest benefit to vouchers it has previously sold. These coupons will generate interest from I June 2015, while their stated expiry dates will be “ignored”.

The retailer has built a tool into a dedicated gift voucher page on its website that allows customers to check the value of their voucher at any time.

Earlier this year, Master of Malt called vouchers a “dirty little secret of retailing” that “become literally worthless anywhere between six months and a couple of years later or whenever you lose it”, while the retailer earns interest on the sums paid for it.

“We hope other retailers follow suit and put an end to the nonsense that is ‘traditional’ gift vouchers,” said the firm. “In the meantime, we invite you to try ours – we think you’ll like them.”

Master of Malt recently expanded its range of DIY spirits ageing kits to include one gin and three cocktail specific variants.