Yes, certainly I think there is a lot of fear, given what we saw with premium cards initially in 2008. Now that we have another player entering the mix, a telecommunications company, we know that's how they are making their piece of the pie. Right now, our understanding is that's being absorbed by the issuers, but there's going to come a point when I believe everybody will want to go back to the model where they're each getting their share of the revenues coming from the merchant. We find it really hard to believe. We feel as if right now it's a way to get into the market and over time, those fees will start going up because they simply have to start making sure that this next other player in this industry is also getting paid to the same degree that the banks and the acquirers and the networks are.
On February 27th, 2014. See this statement in context.