Feedback please: Prepaid card, IMO, is a moneymaker and here's why. Urban(and CMKX shareholders) makes money on the float( the total prepaid less the amount spent per card). In an environment with rising interest rates, the income keeps growing. ADP, Paychex, and other payroll companies have been doing this all along. They withdraw the payroll taxes and direct deposit checks the night before they are to be disbursed to the employees, making money on the float. It actually works. In CMKX's case, it's even better because almost nobody will spend the money the very next day, increasing the number of days CMKX makes money on the interest. For example, I prepay 1k and don't spend it for 60 days. CMKX earns interest for 60 days. I welcome all opinions. TIA and good luck to us!
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