You can now directly send money to your Steam Friend's account. A virtual gift card of sorts.
Article from PCGamer.
Steam page to buy virtual gift card.
F.A.Q from Steam's virtual gift card page:
Frequently Asked Questions
Are there any restrictions on purchasing digital gift cards?
You and your friend must both have Steam accounts and you'll need to be friends on Steam. You can purchase Steam digital gift cards for any user that you have had on your friends list for at least 3 days. Please note that you cannot use existing wallet funds to purchase a digital gift card.
What can my friend buy with their digital gift card?
Their digital gift card will be delivered into their Steam Wallet to use right away once your friend accepts their gift. That means your friend can purchase games, micro-transactions or items off of the Steam Community Market.
Can I still buy games for my friends?
Of course! Everyone loves getting personalized gifts. If you know which game your friend already wants then you can buy that game as a gift from the Steam store. However, if you aren't quite sure what your friend might want for, say their birthday or holiday, then a Steam gift card can be a great gift. Digital gift cards can also help you contribute to a friend's game purchase or to help them buy a micro-transaction item.
What happens if my friend lives in another country?
The digital gift card you purchased will automatically be converted into your friend's currency.
What if my friend declines the digital gift card I've bought for them?
If your friend declines your digital gift card then your purchase will be refunded. If possible, your purchase will be refunded to your original payment method. If your payment method does not support this, then the purchase will be refunded into your own Steam Wallet.