Stored-value card

Stored-Value Card: A pre-paid payment card that stores a monetary value from which the purchase amount is deducted from the card each time the card is used.

Stored-value card
Prepaid plastic card that allows purchases up to a set limit, at which point the card is discarded or, if “rechargeable,' replenished from an account.

Stored-Value Card
A type of electronic bank debit card. Stored-value cards have a specific dollar value programmed into them. Banks provide these cards as a service for customers who cannot open checking or other deposit accounts.

Debit cards may be considered similar to stored-value cards in that they represent a finite amount of money owed by the card issuer to the holder.

The Smart Card (SC) is a sophisticated stored-value card that contains its own computer chip so that it can be loaded with digital cash from the owner's bank account whenever needed. In Europe, Smart cards are also referred to as ChipKnip. ...

See also: Debit card, Fraud, Savings account, Saving, Payroll deduction