What is a stored value card?

Unlock all questions

This demo includes only 20 questions. Upgrade to access hundreds of questions, flashcards, exam simulations, and disable ads.

Full question bankExam simulationsFlashcards
From $25.99Unlock all

Prepare for the DART Rail Institute Exam using questions and detailed definitions. Get familiar with the test format, explore key concepts, and enhance your understanding to succeed on your exam day!

Multiple Choice

What is a stored value card?

Explanation:
Stored value cards hold a balance of money that you can spend on transit fares or other payments, and that balance can be increased by reloading the card. The described option captures this idea: a prepaid card that stores monetary value for fare payment and is reloadable. You top up the card, and each ride debits the fare from the stored balance. This is different from cards used only to store personal data for access control, or loyalty rewards cards that track points, or a paper ticket with a magnetic stripe which isn’t a reusable stored-value card because it doesn’t hold a persistent electronic balance.

Stored value cards hold a balance of money that you can spend on transit fares or other payments, and that balance can be increased by reloading the card. The described option captures this idea: a prepaid card that stores monetary value for fare payment and is reloadable. You top up the card, and each ride debits the fare from the stored balance. This is different from cards used only to store personal data for access control, or loyalty rewards cards that track points, or a paper ticket with a magnetic stripe which isn’t a reusable stored-value card because it doesn’t hold a persistent electronic balance.

More Multiple Choice Questions
Subscribe

Get the latest from Passetra

You can unsubscribe at any time. Read our privacy policy