CUSTOMER CARD FUNDING LIABILITY

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

CUSTOMER CARD FUNDING LIABILITY

6.     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 (Note 2). 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. Liabilities related to prepaid cards are reported as customer card funding liability on the consolidated balance sheet.

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

	Year Ended December 31,
	2021		2020
Beginning balance	$	48,100,951	$	32,723,227
Increase (decrease), net		13,182,963		15,377,724
Ending balance	$	61,283,914	$	48,100,951

The amount of revenue recognized during the years ended December 31, 2021 and 2020 that was included in the opening liability for prepaid cards was $1,023,055 and $844,519, respectively.