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Gift Cards
Prepaid Visa card, MasterCard or American
Express card that enables the user to purchase goods or services up
to the value of the
card. Bank-issued gift cards work much like retail merchant gift
cards, serving as redeemable gift certificates.
Cards
generally do not have any value until they are sold, at which time the
cashier enters the amount which the customer wishes to put on the
card. This amount is recorded
in the store's database & cross-linked to the card ID.
The major
exception is in many public transport systems, and library
photocopiers, where a simplified system (with no network) stores the
value only on the card itself (a stored-value card). To thwart
counterfeiting, the data is encrypted, though not very strongly
given the relatively low amounts of money involved. |
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Supplied
courtesy of 'Dynamic Rewards' |
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Supplied
courtesy of 'Dynamic Rewards' |
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