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07-01-2021, 09:16 AM #1
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,952
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A closed loop payment is a transaction in which a client uploads money into a spending account that is linked to a payment device.
A good example is the Genie Virtual Prepaid Card . A closed loop payment can only occur between a spending account and a single,
specific company.Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
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