Well, not completely new. I have only heard about it just recently, but in fact, I think it has been on the market since the beginning of the year 2010 . It acts as a gift card, or credit card type, voucher, only redeemable at Playstation Network Store. Worth depending on the amount shown in dollar sign obviously. It will let you buy games and anything there on the store. I think this will make a great gift for anyone thinking about a gamer friend or family member.