PayPal announced on Tuesday it has launched a digital gift card store in Australia, positioning the company to disrupt the $2.5b gift card market down under.
“We pride ourselves on being an incredibly tech-savvy nation and yet we’re still going into physical retailers and buying physical gift cards, which is a fairly sub-optimal experience for the person buying the gift. And the person receiving the gift has to remember to bring the gift card with them.”
Alison O’Brien, PayPal head of marketplaces, to the The Australian Financial Review
Almost 90 percent of Australians have gifted or received gift cards and gift cards are now the most popular gift given in the country.
PayPal already operates digital gift card stores in several countries, including the U.S., UK, and Germany offering hundreds of popular global and local brands.
As part of a launch promotion for Australia, PayPal will feature select gift cards at a 15 percent discount.
The Australian digital gift card store is just another small retail service that tries to tie consumers to the PayPal digital wallet. In seconds, shoppers can purchase a gift card and have it arrive by email and use it online or at retail locations.
Do you have any thoughts on this story? Head over to our Facebook Discussion Group or use the comments section below.