A gift card is a prepaid, stored-value card or electronic token with a specific monetary value that can be used to purchase goods, services, or credit at a particular merchant, retailer, or brand. They function as an alternative to cash, offering the recipient the flexibility to choose their own items or experiences. Gift cards can be physical or digital, and while many are "closed-loop" (restricted to a specific retailer), "open-loop" prepaid cards exist that are usable anywhere debit cards are accepted.