The short clip, created by Buzzman, follows a series of people as they hide, withhold and even burn presents intended for loved ones.
Buzzman said the film would play throughout cinemas and on social media, as well as airing in Germany, Switzerland, and Austria.
As part of the campaign, PayPal is offering customers the chance to return unwanted and inappropriate gifts free of charge until 9 January 2018.
French agency Buzzman is a frequent winner at Cannes and perhaps best known for its work with Burger King.
