Tuesday, June 27, 2017 6:09:53 PM
HOW ABOUT...CAN YOU EXPLAINING TO US HOW THEY MANAGE TO EARN OVER 18 MILLION IN REVENUE?
Certainly, glad you asked. They obtained a bank loan and purchased portfolios of merchants who all utilized credit card processing services. These merchants pay a fee to the processors so they can accept credit cards at their businesses. EXCC gets a portion of this fee in exchange for providing customer service and handling various aspects of the transaction.
Without a loan from the bank, the company would never be able to obtain these portfolios.
THIS COMPANY HAS A SOLID BUSINESS THEY HAVE SOLID MERCHANTS ACCOUNTS. THESE MERCHANTS ACCOUNTS VALUE IN GOLD.
Well, they have merchant accounts, yes. However, merchants go out of business all the time. Not all at once, of course, but business fail in the US each month. So, it stands to reason that some of their merchant customers will go out of business and no longer be processing revenue through their card machines. In this case, the company needs to replace these merchants, either by recruiting new ones or buying new portfolios.
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