Partially Open Loop Card: This refers generally to a Card that is usable by the cardholder to buy goods and services at a restricted number of merchants who accept Visa or MasterCard. These cards are also known as Selected Authorization Cards and/or RAN Cards. Among other rules, Partially Open Loop Cards are regulated by Consumer Protection Laws, Unclaimed Property Statutes, Money Transmitter Laws, Privacy Laws, and Anti-Money Laundering Regulations, and the partially open loop status of a Card can impact the application of these laws.
