What defines a General Purpose Reloadable Prepaid Card (GPR)?

A General Purpose Reloadable Prepaid Card (GPR) is specifically designed to be reloaded with funds and can be used for various purchasing needs, making it particularly beneficial for individuals who may not have access to traditional banking services. This characteristic aligns with the purpose of supporting the unbanked population, allowing them to make transactions without the need for a bank account.

While other options mention features or groups of users associated with different types of financial products, they do not accurately define a GPR. For example, a card used exclusively by bank account holders is too restrictive and not a defining feature of GPRs since these cards can be used by anyone. A card that cannot be reloaded with cash misrepresents the fundamental nature of GPRs, as their primary feature is the ability to add funds multiple times. Lastly, labeling GPRs as credit cards with annual fees is misleading since GPRs are prepaid products and do not operate on credit, nor do they inherently have annual fees linked to their basic usage.