table common gift cards in the market and whether they are suitable for transactions

[bbadmin]

Here’s a table listing common gift cards and whether they are suitable for general transactions:

Gift Card Type	Examples	Transaction Scope	Suitable for General Transactions?
Open-Loop Gift Card	Visa, Mastercard, American Express	Can be used anywhere the card network is accepted (online & in-store)	Yes
Closed-Loop Gift Card	Amazon, Walmart, Starbucks, iTunes	Only usable at the issuing store or platform	No
Digital/Virtual Gift Card	eBay, Steam, PlayStation Network	Online purchases, sometimes peer-to-peer if open-loop	Only if open-loop
Mobile Wallet Gift Card	Apple Wallet, Google Wallet, PayPal	Online & in-store payments depending on acceptance	Sometimes, depending on acceptance

Key Takeaways:

If you want a gift card for general transactions or online payments anywhere, choose an open-loop card like Visa or Mastercard.

Closed-loop or store-specific gift cards are restricted to the issuing brand.

Virtual or mobile wallet cards can be flexible but check acceptance rules.