> Regulators in the US are taking interest in the large sums collectively kept on stored value cards and the associated mobile apps. “The money stored on these cards – and any similar stored value accounts – are effectively the same as bank deposits and as the total value now exceeds the deposits at smaller US banks, regulators are seeing a need to apply oversight,” O’Brien says.

What exactly are these "stored value cards" with associated mobile apps? Things like gift cards? Or are they talking about Apple and Android Pay?