Open Loop Gift Cards: What Are They? And Why They Are an Excellent Gift
So, what is an open loop gift card? Simply put, an open loop gift card is a prepaid card that is accepted by a wide range of merchants. Unlike closed loop gift cards, which are only accepted at specific stores or brands, open loop gift cards can be used at any merchant that accepts the card's payment network. The most common payment networks in Australia for open loop gift cards are Visa, Mastercard, and eftpos. All of which are sold on Card.Gift.