Loyalty 360: For retailers new to the loyalty and engagement space, looking to develop or enhance their programs, would you explain the difference between a closed loop card and an open loop card offering?
Lockwood: An open loop prepaid card is issued by a major network — Visa, Discover, MasterCard, American Express — and can be used wherever those brands are accepted. A closed loop card is restricted to the store that is represented on the front of the card.
Loyalty 360: Who is more likely to earn & use a closed loop....