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However, in some cases in the Philippines, Smart Stores may not offer this method of reloading, favoring Machine Topup or Scratch Cards (locally called Prepaid Vouchers). The commercial load is the prepaid airtime balance used for reloading a prepaid SIM card and is distinct from the retailer's personal load balance.
Stored-value cards are prepaid money cards and may be disposed when the value is used, or the card value may be topped up, as in the case of telephone calling cards or when used as a fare card. The term closed-loop means the funds and/or data are physically stored on the token or card in the form of binary-coded data.
Smart cards may also be used as electronic wallets. The smart card chip can be "loaded" with funds to pay parking meters, vending machines or merchants. Cryptographic protocols protect the exchange of money between the smart card and the machine. No connection to a bank is needed. The holder of the card may use it even if not the owner.
Tens of millions of Americans with limited access to banking services turned to payday lenders and prepaid cards during tax season, much to the delight of Walmart (WMT), which offers a check ...
Fees and Details. Card Purchase Fee. Up to $5 at retail locations; $0 if purchased online. Monthly Fee. None. Reload Fee-No fee from American Express or to reload at Walmart
Initially, the cards can be purchased only from Metro Stations, Bus Terminals and some Bus Stop ticket machines. These prepaid cards can be "topped-up" online, at ticket machines, or at ticketing offices by credit, debit card or cash. The card is designed to reduce the number of transactions at ticket offices and the number of paper tickets.
The card can be reloaded online, over the phone, or with the Hop app using a credit or debit card. It can also be reloaded using a credit card or cash anywhere it can be purchased. [14] Hop cards do not expire (except honored citizen cards, which must be renewed every two years). Once a loaded pass expires it can be reloaded with a new one.
This process is widely implemented in the Philippines and India so that any person can be a prepaid load retailer, creating a nationwide availability of reloading stations, even in remote areas. Credit purchased for a prepaid mobile phone may have a time limit – for example, 120 days from the date the last credit was added.