How can this possibly become profitable?
Off the 6% charged to the merchant, 3.4% of this 6% margin is consumed by bad debts, the bad debts are higher than the revenue produced.
working off a 6% margin with 56% of it consumed in write offs, this leaves 2.6% for the running of the company.
This is the biggest trash statement the board have made, the crazy thing is investors like you believe it.
no business I know can become profitable off such small margins with bad debts, zip is screwed
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