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Deposit with Credit Card Processor
3 Months Ended
Mar. 31, 2023
Deposit with Credit Card Processor

3. Deposit with Credit Card Processor

 

The Company utilizes a third-party processor to serve as an end-to-end processor of credit and debit card and automated clearing house (“ACH”) payment transactions that focuses on processing omni-channel (internet, mobile, and point-of-sale) transactions and recurring billings for traditional retailers, government and utility, and service providers. The Company was required to place a security deposit in order to secure the third-party services. The security deposit does not bear interest and is refundable upon termination of the agreement. The outstanding security deposit was $87,237 as of March 31, 2023 and December 31, 2022.