Why this pr is good by CDLIC....
Each point is simply excellent.
Bo
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Hi All,
The latest CMKM PR regarding the Pre-paid Visa card (PPVC) is actually a good thing. Here are the possibilities:
(1) Anyone with a CMKM PPVC advertises CMKM every time one pays for something with it due to the, assumed, logo/picture on the face of the card
(2) Every time the PPVC is tendered to pay for something, CMKM will receive an override on the sale. This can amount to a nice sum annually for CMKM
(3) CMKM could issue one of these cards to every CMKX shareholder and load a cash dividend into the card (that is the dividend payment is held electronically on the issuing bank's computers as a credit to the cardholder) and then the cardholder can use the card at millions of locations where Visa is accepted
(4) If CMKM issues cards (as stated in #3 above), then the company will save a ton of money by NOT having to process tens of thousands of checks to shareholders, thus, saving labor, materials, stamps and time
(5) One can even go to an ATM and withdraw money from the card, thus, having access to the dividend money as cash.
So, this again, IMHO, is a smart move by Urban and Co.
Below I have copied the PR of today.
Ciao for now,
CDLIC
