CUSTOMER CARD FUNDING LIABILITY

9 Months Ended

Sep. 30, 2023

Revenue from Contract with Customer [Abstract]

CUSTOMER CARD FUNDING LIABILITY

5.     CUSTOMER CARD FUNDING LIABILITY

The Company issues prepaid cards with various provisions for cardholder fees or expiration. Revenue generated from cardholder transactions and interchange fees are recognized when the Company’s performance obligation is fulfilled. Unspent balances left on pharma cards are recognized as settlement income at the expiration of the cards and the program. Contract liabilities related to prepaid cards represent funds on card and client funds held to be loaded to card before the amounts are ultimately spent by the cardholders or recognized as revenue by the Company. Contract liabilities related to prepaid cards are reported as Customer card funding liability on the condensed consolidated balance sheet.

The opening and closing balances of the Company's contract liabilities are as follows:

	Nine Months Ended September 30,
	2023			2022
Beginning balance	$	80,189,113		$	61,283,914
Increase (decrease), net		(2,166,595	)		27,775,501
Ending balance	$	78,022,518		$	89,059,415

The amount of revenue recognized during the nine months ended September 30, 2023 and 2022 that was included in the opening contract liability for prepaid cards was $2,020,224 and $1,485,005 respectively.