Gift Card

A gift card refers to a prepaid card loaded with a specific amount that you can use to purchase goods and services or to make other financial transactions. Store gift cards (closed loop) facilitate purchases at specific retailers. Conversely, general prepaid gift cards (open loop) are acceptable for various types of transactions. 

Some examples of gift cards from popular companies include Starbucks, iTunes or Sephora. They come with a specific amount and you can use them online or at the store.

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