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To give a gift to a friend or family member, locate the game you would like to gift on the Steam Storefront and then click the "Add to cart" button. Upon checking out, select the "Purchase as a gift" option to purchase the items in your cart for a friend.
Selecting your gift recipient
When you select the "Purchase as a gift", you'll be presented with a list of your Steam friends, from there you can select who you'd like to receive your gift. If you'd like to send it to someone who's not listed, you'll have to add them to your Steam friends list. This helps ensure your gift is going to make it to the right person.
https://support.steampowered.com/kb_article.php?p_faqid=549
STEAM GIFTING CHANGES
Today we’re announcing changes to gifts on Steam. The gifting process has had a bunch of friction in it for a while, and we want to make it easier for you to share the games you love with friends. Steam Gifting will now be a system of direct exchange from gift buyer to gift receiver, and we will be retiring the Gift to E-mail and Gift to Inventory options. Here's a quick breakdown of benefits from the new system:
Scheduling Gifts Is Even More Straightforward
Go ahead and buy a gift months in advance and have it delivered to a friend on time, every time.
Declined Gifts Resolve The Way They Should
In the old system, a declined gift would sneak back into the giver's inventory and remain on their bill. Now, if a recipient already has the title, or just doesn't want it, they can click decline and the purchase is refunded directly to the gift giver.
Safe Cross-Country Gifting
No more worrying if a Gift to E-mail or Gift to Inventory is going to work for a friend, gifts sent through the new system will always work on the receiver's account. When there is a large difference in pricing between countries, gifting won't be available and you'll know before purchase.
These changes are now available. Please let us know if you see any issues or have any feedback.
Note: Pre-existing gifts will be unaffected by this change.
http://steamcommunity.com/games/593110/announcements/detail/1301948399254001159
As gifts can only be send directly, it would be easy to find people abusing it. But instead gifting now is based on transversion rates of currencies. And even if people would want to pay the so called difference of currency, they cant.
Thats unsmart.
[When there is a large difference in pricing between countries, gifting won't be available and you'll know before purchase] - Steams definition of a larger difference and my definition of a large difference are apparently very different :O
[It's not a dumb sale policy, it's to stop people from selling games to other people, like what happened with previous system.] - it's a super dumb sale policy, because now these people are just selling jacked up priced gift cards, like the 5 euro gift card i had to pay 11 usd for to buy the damn game for her, because steam left me with zero options of gifting over .90 cents.
Now smart option would have been, disallow people to save game for later and then send to whoever wherever, and charge full price (the price it is in the recievers country) on direct purchases. But disallowing all gift purchases because of a price difference they lost money, and the people you are worried about gained it with jacked up priced gift cards, good job.
Seriously thats what 1.90 of 19.99? that IS a large difference to you?? no that is a moderate difference.. in my case the difference was .90 cents. And the point of the story is, fine .90 cents more, 2 dollars more, great i'm willing to pay it but i couldn't. Now thankfully I just saw that Steam introduced digital gift cards, hopefully this will solve that issue.