The marketplace in which we work today is very complex. The CPA, for example, back in the early days, worked strictly with the financial institutions, and we found that was no longer a strategy for success. We need to embrace all of the various players within the industry.
If you look at the payment value chain from the acquirers to the originators to the card issuers to the processors to the scheme operators, there are so many people involved in processing a payment today, and if you want to do it safely and efficiently, you need to involve all the parties around the table.
Do you need somebody to facilitate and to broker that? It does help. Leadership in this industry is absolutely paramount. I think Don spoke earlier about what they did with PCI compliance, and how the industry came together. That needs to happen on an ongoing basis for a number of things.
Is there one agency that can do it all? I don't know. I know the task force is looking at that, and the chair of the task force is looking at new “ecosystem”, as I term it, for the payment system, which largely involves all of the players as a self-governing organization as well as infrastructure and an oversight body.