Groups of
It looks like every member pays a fee, whether it’s a business or individual. Correct. Individuals are contracted to only use the card with the businesses that are also members? No. The Card can be used anywhere.
* Individuals must spend a minimum of $1,500 per month using the card
"with" the PC Network Members.
* Youth cards are connected to their parent, family or another adult card in
order to meet the $1,500 minimum requirement.
*The card can be used with any business. Each member must meet their
minimum spending requirement in-network in-order to receive their
funding (the business-card and the individual card, works this way).
What happens if they use the card with another business that is “out of network?” Nothing..The card can be used whereever visa or mastercard is accepted. However they must meet their in-network spending in order to receive their funding.
How are individuals supposed to keep track of which companies are “in network,” and which ones are not? Their online account and electronic call-in messaging.
Where does the business obtain the additional resources to pay out to the individual members? Corporations pay for groups of One Million Individual Members (the same as they pay for groups of 500 business or group customers).
Are they investing the funds received via fees? No
Are the businesses able to take customers who are not “in network?” Yes
How can the merchant guarantee the card users will use “in network” businesses? They are paid to use the in-network members.
If a business purchases a commercial debit card, they pay a $300 enrollment fee, $300/month, or 7% per million dollars generated, but then receives $1,500.00 to $10,000.00 and business marketing services.
So, they’re paying $3,600.00 to $3,900.00 a year in fees to get back the aforementioned $1,500.00 to $10,000.00? Why do they have to pay the fee to obtain the funds? Groups of 500 business members pay $300 per month ($150,00 per month) that pays the service providers of the administration and marketing services provided to the groups through the business centers.
The Network "on-purpose" makes it known
I understand the fee for business marketing purposes, but how does their money multiply from $3,900.00 to $10,000.00?
Another example I’m struggling with is for the Youth cards.
The members pay $7 a month, so $84/year, but they get back $200/month, in addition to every day needs like footwear and after school trips/meals?
Where do the funds come from? If every business and individual is getting back more than they put in, the difference needs to be generated in order to provide those funds/services.
Where is the difference coming from?
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