PayPal announced the launch of its new Digital Gifts store, which is a destination where people can purchase digital gift cards from a variety of merchants.
For now, there are only iTunes gift cards from Apple, but PayPal says it will be adding more soon.
"Gift cards are the most popular presents this holiday season and generally one of the most sought after gifts for anyone in your life," says Patrick Gauthier, Head of Emerging Retail Services at PayPal. "Last year, more than half of the gift cards received by US consumers were purchased for the Holidays, according to Blackhawk Network."
"Buying a digital gift from PayPal is as easy as one-two-three: select a gift and denomination, enter your PayPal ID and Password, send the gift to a loved one or redeem it on the spot," explains Gauthier. "Simple, convenient and secure. To help open the digital doors we have just started offering iTunes codes. This year our clients can get more music, more apps, more fun, with a few clicks on their smart phones."
PayPal announced last week that it now accepts prepaid gift cards, and that these can be used anywhere that accepts PayPal. The company also recently added support for gift cards to PayPal Wallet.