Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies: Revenue Recognition Policy (Policies)

v3.7.0.1
Summary of Significant Accounting Policies: Revenue Recognition Policy (Policies)
6 Months Ended
Jun. 30, 2017
Policies  
Revenue Recognition Policy

Revenue recognition

Revenue is derived on a per transaction basis through the Company’s gateway and payments platforms.  The Company also earns revenue for services, account establishment fees and licensure on Software as a Service (“SaaS”) basis, and on a performance basis, such as when a client acquires a new customer through our platform. Revenue is recognized in accordance with Staff Accounting Bulletin (“SAB”) No. 101, “Revenue Recognition in Financial Statements,” as revised by SAB No. 104. As such, the Company recognizes revenue when persuasive evidence of an arrangement exists, title transfer has occurred, the price is fixed or readily determinable, and collectability is probable. Sales are recorded net of sales discounts.