PayPal, the king of online payments, has just launched an online gift store, along with Apple who is its only launch partner to start. The PayPal Digital Gifts store comes a week after the service provided support for prepaid credit cards and will allow existing PayPal users in the United States to buy gifts and gift cards for other people. Just in time for the holidays.
Right now, the store offers just four gift cards for iTunes, in $15, $25, $50, and $100 values. The PayPal Forward blog says that all you have to do is select a gift, enter in your PayPal info, and then to select to either redeem it for yourself or to give it to someone else. This should make gift giving that much easier.
Even though your retailer choice is currently limited to just Apple, the service “will be adding more very soon,” and will be listing deals and offers from other merchants as well. It will be interesting to see which retailers will show up. It just launched today and already the store has run out of $15 and $25 iTunes codes. They are running a promotion of 20-percent off a $25 gift card after all. PayPal will likely replenish stocks later today for your buying enjoyment.