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DEFINITIONS

Stored value card

Definition

A plastic payment device with a microprocessor chip in it used to store data and handle payment tasks. Stored value cards are better known as “smart cards”, when used for making financial transactions they typically resemble a credit or debit card, and are able to store a great deal more information than standard credit cards that use magnetic strips or barcodes. Also called smart card.
RELATED TERMS
Credit card
Debit card
Smart card
RELATED CATEGORIES
Banking



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