Gift Microsoft Points
Making it just in time for Christmas, Microsoft has added the option for Xbox Live users to gift Microsoft Points to other users, letting them use the currency to purchase downloadable games and other content. This also extends to the Zune Marketplace, which uses the same points system.
The program, which can be accessed from this website, is currently in the beta state. It also allows users to buy points for themselves. The system is currently restricted to users in the United States, and gift-givers must know the Windows Live ID of the recipient to send them the points. Microsoft notes that it will add the option to gift by gamertag in the near future.