In message , at 02:31:31 on Wed, 29
May 2019, JNugent remarked:

The turnover for someone like Uber or TheTrainline being the
commission element, not including the money that passes straight
through to the drivers and Train Companies respectively.

If Uber only received a commission or circuit fee from the driver, that
would be correct and I would certainly not argue with your proposition.

But how can that correct be in the circumstance where they also turn
over the whole of the fare collected from the passenger
(account-holder) on the spot?

Do they, and send the driver an invoice for their commission later (end
of the month perhaps)?

That would nudge them a bit closer to being perceived by the passenger
as a cab company, rather than a booking agent for the driver.

I don't think credit card companies include the total value of
things purchased with their cards in their turnover. But they do
collect the money from buyers, deduct a commission, they pay the balance to
vendors. And like no doubt Uber, they don't pay the whole amount
out and* then send an invoice asking for the commission back
whenever the trader* feels like it.

I don't now about you, but I pay money to my credit card issuers.
That's what I wrote. They collect the money you pay to them, and
channel it through to the merchants.

They don't pay money to me.

I didn't suggest they did. They pay money to merchants. But that's
money from you to the merchant, and isn't part of the card issuer's
turnover.

Indeed. They are financial trading entities operating as registered /
recognised banks licenced by the state. They lend money (part of their
capital assets) and only the fees and charges they receive are their
turnover.

They lend money to the buyer (at zero interest rate if they pay it off
on demand). They don't lend money to the merchant.

Does that apply to Uber?

And TheTrainline, does the train company get paid for the ticket
straight away, or does TTL have 30day (or whatever) credit with them
all. Whatever the answer, their turnover in their published accounts is
just the commission/fee element.

--
Roland Perry