Gyft is a gift card service that accepts Bitcoin as well as other payment systems such as credit cards and Paypal. Gyft allows you to keep a “wallet” that organizes your gift cards. Gift card barcodes are displayed right on your phone so there is no need to have a physical card. Gyft also allows you to send gift cards to others via text or email.
When purchasing gift cards you earn Gyft “points” which are discounts on buying future cards. Since Bitcoin payments are non-refundable they save on processing fees and pass some of the savings along to the user. If you get on their mailing list they will also send offers from time to time such as double points, discounts, or other promotions tied to a specific card.
When the service first started there were a few bugs. this was due mostly to store clerks not being familiar with customers displaying gift cards on their phone (they can also be printed out). It seems most of these bugs have been worked out and most places have trained their clerk. However, it does not hurt to check and make sure they know how to process the card.