eBay Sells Gift Cards for Company Stock
eBay announced yesterday that it has begun carrying gift cards that allows recipients to purchase shares of stock in publicly traded companies. The online retailer has partnered with Stockpile to become one of the first companies to offer this new category of digital gift cards for stock. eBay made it clear that none of its sellers are selling actual shares of stock on eBay. Rather, PayPal Digital Gifts is selling Stockpile gift cards on the marketplace; shoppers then go to the Stockpile site to consummate the trade.
Total Retail's Take: eBay is thinking outside of the box with this latest announcement, introducing a new twist to its digital gift card program. Enabling shoppers the opportunity to give stocks as a gift is akin to receiving a savings bond as a child — with the potential to increase return more significantly if the recipient picks the right company to invest in. It seems as if new CEO Devin Wenig is embracing change and innovation at eBay, something the company needed.