Thank you, Chair, and thank you to our witnesses for being here today.
As I'm a former banker this subject is very interesting for me. I think mobile payment is probably the greatest innovation in banking since the invention of the ATM back in the 1970s. I think it has huge potential. We're also seeing that there's still a generational gap between the users. Younger people seem to be embracing the new technology a lot quicker than the older people. What I find interesting today is that younger people don't even use cash; they pay for everything with plastic. Most of it's debit though, not credit. The older people such as me, our generation, still use credit cards, and still use cash for small-ticket items.
What are you doing to bridge that generational gap? I know back in the 1970s when ATMs were invented it was exactly the same thing. The younger people used them first, and the older people still preferred to go to the wicket and talk to the teller. What are you actively doing today to help bridge that generational gap?
Maybe Visa would be the best place to start.