Closed loop payment processing is limited to a specific vendor or location. For example, customers may opt to load money to their cards with a specific vendor and can only spend within those locations. This makes it easy to track and limit spending. Closed loop networks can also eliminate unnecessary costs that can accompany traditional open loop network features.
Shopping, gift and loyalty card programs have evolved and blossomed over the past several years. Many clients now opt for these private label prepaid card programs (on either an open or closed loop network) to enforce restrictions on spending to designated stores or locations. Clients can create their own payment card payment card solution for shopping malls, theme parks, sport venues, events, membership organizations and more.