Google Launches Google Play Gift Cards

by InvestorPlace Staff | August 22, 2012 11:31 am

Google (NASDAQ:GOOG[1]) announced Wednesday that it would soon begin offering gift cards for use in its Google Play[2] store.

Not yet available in stores, the gift cards — which will come in $10, $25, and $50 denominations — are being sold initially¬† at U.S. locations of Target (NYSE:TGT[3]), RadioShack (NYSE:RSH[4]) and GameStop (NYSE:GME[5]).

Google hasn’t announced plans to release the cards in other countries, and attempts to use the cards outside the U.S. will result in Google detecting the user’s location and informing them that the gift card is not valid internationally, according to ZDNet[6].

The cards, which can be redeemed either online or through a mobile device, never expire and carry no fees. The money goes directly into the redeemer’s Google Play balance, which they can then use to purchase apps, music, ebooks and films and television series.

Google Play balances are capped at $2,000 and are intended to allow users under the age of 18 to make purchases without the use of a credit card. For users between the ages of 13 and 17, the gift card will become the only payment method accepted by Google, and purchases cannot be made by combination of a gift card and credit card or other form of payment. Gift cards will not be accepted for users younger than 13.

Furthermore, the gift cards cannot be used to purchase hardware, subscriptions or accessories.

As of Wednesday morning, GOOG was up slightly.

Ryan Hauck, InvestorPlace

Endnotes:
  1. GOOG: http://studio-5.financialcontent.com/investplace/quote?Symbol=GOOG
  2. gift cards for use in its Google Play: https://plus.google.com/u/0/106886664866983861036/posts/ZfZf6Ditgnm
  3. TGT: http://studio-5.financialcontent.com/investplace/quote?Symbol=TGT
  4. RSH: http://studio-5.financialcontent.com/investplace/quote?Symbol=RSH
  5. GME: http://studio-5.financialcontent.com/investplace/quote?Symbol=GME
  6. according to ZDNet: http://www.zdnet.com/au/google-rolls-out-google-play-gift-cards-7000002959/

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