The latest update to the Xbox 360 Preview dashboard has given users the ability to send digital gift cards to friends over Xbox Live. The feature is now available to members of the Xbox 360 Preview in the United States, Canada, France, Germany and the United Kingdom.
Accessed via the newly-introduced 'Send Gift' option on the social twist or a user's profile, the feature allows you to send various credit values to other gamers. This purchase is handled like a standard transaction, before a message containing an option to redeem the digital gift card is sent to the recipient. Credit can be sent in predetermined values, with a minimum gift card value of $10, and a limit of $100.
While some rival gaming networks provide a solution for online gifting, the ability to send products rather than credit is a common trend. This is the first time the feature has appeared on Xbox Live, but can be expected to arrive on the Xbox One at a later date.
Source: Major Nelson