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Pre-paids are the way to go.
Heck you could even paypall them the money I had freidn do that once for me just paypal transfer 15 bucks to my paypal email address I think it was so I coudl buy months sub for soem game...
As others have suggested, I would just purchase a steam gift card to give to your friend, that way you don't have to worry about it. Though if your intention is to leave your billing information on your friend's account, then you won't have a problem having your billing information on two different Steam accounts.