Industry leader in online payments, PayPal, has recently announced in a blog post that it opened a new digital store.
The digital store that comes just in time for the holiday season will sell digital gift cards that can be sent to the recipient instantly.
PayPal-gifts.com currently supports Apple iTunes gift cards only, however they stated: “Expect us to continue to add more digital gifts to the PayPal Digital Gifts store.” The process of purchasing a gift card from PayPal is pretty straightforward, by logging in and choosing the desired gift card and amount, the shopper will be given the option to either redeem the code on the spot or to send it to someone else.
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Interestingly enough, PayPal announced just last week of the addition of gift cards to its supported payment options. PayPal also mentioned it will be adding gift card support to its digital wallet very soon. It seems as PayPal is utilizing its partnership with Blackhawk, which specializes in gift card purchases.
PayPal is taking gift cards very seriously. We expect the new store to slowly add support for more gift cards from various companies. With the amount of gift cards that go unused, it will be interesting to see how PayPal’s digital offering fares with its physical counterparts.
Like other aspects of holiday spending, this year gift cards are expected to outsell themselves in comparison to last year.