Gift Card
A stored-value payment card, usually for use at a specific merchant or group of merchants.
Definition
A gift card is a type of closed-loop stored value, typically purchased by one person and given to another. It carries a preloaded balance that can be spent at the issuing merchant or network. Gift cards can be physical or digital. Digital gift cards (in Apple Wallet, Google Wallet, or email) are increasingly popular due to instant delivery, no printing costs, and higher redemption rates.
Examples
Restaurant gift card for birthday gifts
Retail chain gift card for holidays
Spa gift certificate for wellness gifts
Multi-brand gift card for coalition programs
How 7Konto uses this
7Konto's gift card capability lets merchants sell gift cards online or in-store, delivered instantly to Apple Wallet or Google Wallet. Recipients add the card in 10 seconds and can start spending immediately. Merchants set values, expirations, redemption rules, and can offer promotional bonuses (e.g., "buy $100, get $110").
Learn more on 7Konto
Related concepts you might want to explore
Prepaid Balance
Money loaded onto a customer account in advance, to be spent within a specific merchant or ecosystem.
Stored Value
Money or credit held in an account or on a card, available for spending within a defined ecosystem.
Wallet Card
A digital pass stored in Apple Wallet or Google Wallet that represents value (balance, prepaid amount) or access rights (tickets, membership).
Closed-Loop Payment
A payment system where funds can only be spent within a defined ecosystem — one merchant, a group of related merchants, or a specific program.
Ready to put gift card to work?
7Konto is the closed-loop payment platform built for real business use. Free 30-day pilot with full setup and training.