Is it possible for others to pay for a product and give it as a gift to another. Maybe purchase as store credit then give it to someone else???
Yes, that's possible. You can't do it through the website, you have to contact Sales directly by phone if you're a new customer, or by phone or email if you already have a credit card on file.
You can either buy credit or a particular product. Either way, you'll need to know the email address of the recipient, so they can match that with their Logos account details.