Yes, but there are many capital hurdles for small businesses to get into lots of games.
I don't want to overplay the difficulty for small businesses to get into making electronic payments. Many quality acquirers out there provide that kind of service to small businesses right now. Most of this equipment is rented. If you're buying this kind of stuff, especially for an in-store capacity, you're fooling yourself. Lots of our members have been creamed by doing that.
For an in-store capacity, and now for some of the e-commerce capacities that are offered, it's not that bad on the capital front. The big ticket is the per-transaction costs, and that's where PayPal will look very expensive to some, if your business accepts a lot of Visa cards or regular MasterCards. If you're accepting a lot of premium credit cards, a lot of American Express cards, then the math starts to change for that.
Again, I think there are lots of impediments. I'm not suggesting for a second that there isn't an impediment to setting up an electronic payments network in Canada—and for brand new firms that don't have any track record yet, that can be a challenge. For the majority of our members, smaller and medium-sized businesses that are making this transition, this would not be particularly capital intensive.