Devices, systems and methods are disclosed which relate to allowing a recipient of a closed-loop gift card to select one of a number of merchants toward which to apply the value. A consumer buys a variable gift card from a service provider for a set amount, pays the service provider that amount, and the service provider holds that amount in escrow. The consumer sends the gift card to a recipient with a predetermined merchant. The recipient receives the gift card and decides to switch the gift card from the predetermined merchant to a desired merchant. The recipient requests the service provider to change the merchant, and the service provider delivers the amount from escrow to the desired merchant. If the recipient does desire to use the predetermined merchant, the recipient contacts the service provider for activation and the service provider transfers the amount to the predetermined merchant.