Answer and Step-by-step explanation:
Stored value cards can be used anywhere that accepts the card network. Open-loop stored value cards are issued by credit card networks, such as Visa or Mastercard, and can be used anywhere that accepts the card network. Closed-loop stored value cards are issued by merchants and can only be used for goods and services from those specific retailers. Store value cards, also known as gift cards, function like debit cards specific to a certain retailer or set of retailers.