The campaign, throughout December, encourages members to do all their Christmas shopping online by offering ipoints bonus points.
Users will gain bonus points every time they spend more than £50 through ipoints' loyalty partner sites like Debenhams.com, Boots.com, Johnlewis.com, Marksandspencer.com and Amazon.co.uk.
Ipoints sent out an initial email to over one million members to launch the campaign, which will continue throughout December, with regular marketing bursts focusing on popular Christmas gift areas, such as games and consoles, CDs and DVDs, and health and beauty.
Ipoints has also launched an online 'gift selector' to help users choose presents.
Roz Brown, ipoints member communications manager, said: "This is our biggest ipoints giveaway to date. By giving members the chance to earn extra bonus ipoints, we anticipate driving significant traffic to our partner and affiliate web sites."