Payroll cards,government benefit cards,and prepaid debit cards are examples of ________ cards.

Question

Quizplus · Accepted Answer

Payroll cards, government benefit cards, and prepaid debit cards are examples of open-loop cards. Open-loop cards have a network affiliation such as Visa or Mastercard and can be used at any merchant that accepts those networks. Closed-loop cards are limited to specific merchants or retailers, while contactless cards have a built-in chip that enables quick and easy tap-to-pay transactions. EEPROM, or Electrically Erasable Programmable Read-Only Memory, is a type of memory used in some electronic devices but is not related to card types.

Payroll Cards,government Benefit Cards,and Prepaid Debit Cards Are Examples of ________