Xbox 360 Preview members can now send digital gift cards (available in the US, Canada, France, Germany, and the UK).

You can send a gift from the Social twist or the Xbox Guide by selecting the profile of the person you want to gift to and then selecting ‘Send Gift’. You will be asked for a gift amount and have an opportunity to confirm the purchase. The gift will be delivered as a token in an Xbox Live message and can be redeemed by the recipient by simply selecting “Redeem Code”.