As Geoff says it depends on country for Kobo GC's.
I don't know about all countries, but can say that Google Play gift cards are available at many US stores and most (all?) books Google sells can be downloaded as an ePub (Adobe drm'd or drm-free depending on publisher/author).
Another option would be to use a Visa gift card or pre-paid cc at Kobo or other ePub retailers (Kobo gift cards are non-existent in the US). I don't know what if any fees are involved in that option. Or Kobo takes PayPal in some of their stores depending on country.
I can't think of anything else when it comes to a combo of B&M available gift cards and ePubs.
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