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What qualifies as a “payment card?”

The term payment card includes credit cards, debit cards, and stored-value cards, as well as payment through any distinctive marks of a payment card (such as a credit card number).

A payment card is issued under an agreement that provides standards and mechanisms for settling the transactions between a merchant acquiring bank or similar entity and the providers who accept the cards as payment.

For additional information see the IRS Payment Card Transactions FAQs