Too much of a security risk

I say no

Wouldn't the same problem be there when buying the gift cards? You would still need some way of paying for the gift card without a paypal, credit card, money order etc. So I really don't see how this would solve this problem. I didn't read through all the pages so maybe someone said something about it but if you wanted these cards to be placed in stores in certain locations it would take a tremendous amount of time and money to do so. Also, to even get these cards in a store he would have to share the profits with said store and not even including the price of manafacturing of these cards, shipping them to these stores and getting the stores to accept them in the first place. I don't think it would make as much money as you think and only about 5% of jsp doesn't have access to paypal, so it would be a shit ton of work for a small amount of profit, if there even is room for profit.

Still a cool idea, don't get me wrong, but I just don't think you though about all the details involved to make this happen.