RE: RE: ' NEWS RELEASE OUT 'This is a great product. Selectcore has shown that prepaid products are relatively recession proof. This reloadable mastercard allows convenience but provides discipline for the cardholder to prevent overspending. Maybe we should get one for President Obama!
If you look at the fee structure, these cards provide a sustainable revenue stream for SCG.v that should boost gross and net profits. While these fees can add up, they are probably very competitive with bank fees for a checking acct. One positive is that you don't have the danger of overdrawing your acct. The NSF fees can add up to hundreds of dollars for one mistake in a checking acct. This card does have an overlimit fee but it's only 1.99. Plus most times, the transaction would simply be denied. Not the best situation for the card holder but better than letting it go thru and then paying hundreds of dollars in NSF fees as your checks bounce all over town.
The more I investigate SCG.v, the better I like it for a good counter cyclical play. The gross revs have been steadily climbing and are on pace for a record in 2009, in spite of the terrible economy.
Gross revs from 2005 thru 2008 were 24, 37 , 48 and 70 million. 2009 looks like 86million. How many other companies can continue to show gross rev growth in 2009?
I added today and will try to add some more tomorrow.