PayPal Launches Digital Gift Card Store

Dec. 5, 2013

This week, PayPal launched a store where users can buy digital gift cards redeemable at an array of its merchant partners. The company said it is cashing in on the most popular gift given at the holidays. Forty-three percent of consumers expect to purchase a gift card this holiday season, just edging out apparel at 42 percent, according to a Deloitte study.

Consumers can go to the PayPal Digital Gifts store, choose the digital gift card and denomination they want, enter a PayPal ID and password and either send it to a recipient or redeem it online themselves.

PayPal said it has started the store in time for the holidays with iTunes and said it will add more retailer choices “soon.”