Look who’s making money off your money

metro creative connection As interest rates have risen, business-software companies, online brokerages, fintechs and travel groups that have business models designed to harvest so-called “float income” — interest earned on client funds — are pocketing a financial windfall that’s cushioning them from the economic slowdown the Federal Reserve is trying to engineer to crush inflation.

NEW YORK — Lending your hard-earned cash to a company for free, sounds like a bad deal (for you) — particularly when it can park the money at a bank and pocket the interest itself.

But, in fact, customers do this willingly all the time when they pay in advance for goods and services or entrust their money to a financial intermediary.

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