What kind of card is this (i.e.: credit, prepaid, stored value, smart, chip)?
The iCARD Gift Card is a host-based stored value card. Host-based stored value cards are also known as “dumb” smart cards. Smart cards or “chip” cards utilize an Integrated Circuit (IC) to store value on the card itself. They require a special reader to read the IC –very few retail locations in North America deploy this technology. On the other hand, host-based stored value systems maintain account values on a host –the cards themselves do not hold value. They utilize magnetic stripe technology that nearly all retailers already have in place. The card simply holds only the information required to call into the host. The iCARD Gift Card is good only for the amount of funds loaded onto the card at the time of purchase; therefore it is “prepaid”. No credit is extended on the account.
The iCARD Gift Card is a host-based stored value card. Host-based stored value cards are also known as “dumb” smart cards. Smart cards or “chip” cards utilize an Integrated Circuit (IC) to store value on the card itself. They require a special reader to read the IC – very few retail locations in North America deploy this technology. On the other hand, host-based stored value systems maintain account values on a host – the cards themselves do not hold value. They utilize magnetic stripe technology that nearly all retailers already have in place. The card simply holds only the information required to call into the host. The iCARD Gift Card is good only for the amount of funds loaded onto the card at the time of purchase; therefore it is “prepaid”. No credit is extended on the account.
