I think that has a lot of merit. Ad valorem, or percentage of value, emanated from the credit business, where there is risk inherent in the transaction. That's not a good funds model transaction. Interac has a flat switch fee, because there is much less risk in that transaction as far as an unsecured loan is concerned. So whether it's for $100 of groceries or whether you have enough in your bank account for a $1,000 TV, we see the argument—and Interac lives it. We're here today with a flat-fee, single-fee switch fee.
On June 16th, 2009. See this statement in context.