The best replacement for gift certificate is coupon code.

The best alternatives to gift certificate are rated as following:
★★★★★  coupon code
★★★  coupon
★★  gift card
★★  voucher
  gift voucher

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Speaking about gift certificate, one probably shouldn't forget about e-card.

Other search terms related to gift certificate and their ratings are:
★★★★★ e-card
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