Glossary
Stored value
Funds held in an account on the platform, available to spend, transfer or withdraw.
Stored value creates a liability: the operator owes the customer the balance. That liability must be backed by real funds held with a bank or trustee, and the ledger must always be able to demonstrate the total outstanding balance.
Closed-loop stored value — usable only within one merchant or programme — is treated differently from open-loop value in most jurisdictions, which is why the wallet's scope is a product decision with regulatory consequences.