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Why are gift cards issued by stores, restaurants and malls covered in the regulations, while prepaid credit card branded cards are not?

April 26, 2017Covered credit card gift cards issued malls prepaid regulations restaurants Stores

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Why are gift cards issued by stores, restaurants and malls covered in the regulations, while prepaid credit card branded cards are not?

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Prepaid credit card branded cards such as Visa, Mastercard, American Express or Diners Club, are more like banking products rather than gift cards. These cards may be redeemed all over the world.