Riot, this new gifting update you have given us is a very good idea and I am glad you finally implemented something the community has been asking for. Unfortunately, there are some flaws to it.
1. It's not permanent.
2. It has too many requirements and safety features.
3. IP is not giftable.
4. You cannot gift RP that you currently have.
I know you guys are afraid of the security issues and glitchers, abusers, cheaters and fake credit card information etc. But if you don't take the risk, how do you know it won't work well. You can always terminate it if it is more harmful than helpful. You can also treat this gifting system during Christmas as a test run. It is very helpful and I was happy with this system. I know there are flaws because I was reading the forums and there were people using colorful language to describe the gifting system. But I think that my suggestions and the community's suggestion can shape it into a working, well oiled system that can spread happiness through the LoL community.
I have some suggestions and feel free to add on to it or give feedback:
1. You are responsible to the people you gift to. If you get scammed, it is noone's fault but your own.
2. You cannot gift to anyone under level 15. *This is to avoid gifting champions to smurfs for an unfair advantage to the starters.*
3. You cannot regift a gifted item.
4. IP can be gifted in amounts of 450, 1350, 3150, and 6300.
5. RP can be gifted from the a players account instead of purchasing it in amounts of 260, 475, 965, 1820.
6. You cannot gift anyone who has not been your friend for more than a week to avoid some scams.
7. Gifted items cannot be refunded, by the gifter or the gifted.
8. 3 gifts per day (IP or RP, not together).
9. You can gift skins to a person who does not have the champion.
10. Gifted items go the the Gift Vault, in the Champion Profile tab.
11. You cannot gift something the gifted person already has.
I can't think about anything else at the moment so feel free to add on to my list!