Thursday, September 20th 2018

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What are the different types of prepaid debit cards?

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27th Feb 2011 by admint

2 main types of Prepaid Debit cards are open loop cards and closed loop cards.
Open loop cards are linked or is associated to electronic payment networks such as VIsa, Mastercard, etc. A closed loop card is merchant specific. Meaning it can only be used at the specific store or outlet. Example of which is a JC Penny card. You can only used this at JC Penny outlets or merchants.

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12th May 2010 In Credit Card 1 Answers | 491 Views
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