1. “Stored value” means monetary value representing a claim against the issuer evidenced by an electronic or digital record, and that is intended and accepted for use as a means of redemption for money or monetary value or payment for goods or services.
2. The term includes, without limitation, prepaid access, as defined in 31 C.F.R. § 1010.100, as amended.
3. The term does not include a payment instrument, closed loop stored value or monetary value described in subsection 1 that is not sold to the public but issued and distributed as part of a loyalty, rewards or promotional program.