Why aren’t transit cards accepted for general-purpose payments?

Asked Oct 3, 2014· 1 answer ·Americas, Developed Markets, North America, United States
Faisal KhanAnswered Oct 3, 2014
I believe, when you make a card that can be used in other business locales, the card essentially becomes a Store Value Card, in which case, you need an MSB (Money Service Business) license in the US.

See the definition of what an MSB is (point # 3): Money Services Business and the definition of Store Value Card can be seen here: Stored-Value Cards and Other Prepaid Products
Prepaid AccessUS LicensingMoney Services Business LicenseMoney Services Business (MSB) AmericasDeveloped MarketsNorth AmericaUnited States
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