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A store value card is type of a payment card with certain amount of monetary value associated to it.They are quite different from debit cards and credit cards in which value of money is not present inside the card not in any financial system. The best part about this card is it is not associated to any individual person rather it can be used all the time to buy stuffs or avail services.
They are mostly issued on behalf of credit card firm and are mostly provided as gifts. They are also known as "Prepaid Cards". In order to use them you need to charge them by adding value.
Why are they important
- Store value cards are very useful in various scenarios especially if he doesn't hold a credit or debit card or is not interested in sharing the confidential details then using this card he can purchase airline tickets, make reservation or book hotel rooms.
- They offer a very good control over finance in comparison to other payment methods as well as they can be monitored online. This quality makes them a good option for parents and guardians who are finicky about their children expending habits and desire to have a control over amount of money that is spent.
- They are very useful for employers who prefer to pay the newly hired employees with store value cards until they are registered in the payroll system.
- Store value cards are suitable in maximum situations as well as easy to operate which differentiate them from various other payment options.