We don't, as we understand it, need regulatory authorization to enter the debit market; in fact, we've been trying to do that for almost a decade now. We didn't have the right interchange pricing to make it an attractive product for either merchants or the banks that issued cards before. We didn't have a product design that was appealing to them, so we were never successful. It was only over the past year that we developed a product and a value proposition that has appeal, we think, to both merchants and the banks that issue the cards.
On May 14th, 2009. See this statement in context.