We can talk about mobile for hours.
It is a bit of a catch-all phrase, though. I alluded earlier to one of the approaches that PayPal is taking toward mobile. We are making ourselves ubiquitous from that standpoint, so we're not reliant on a particular handset or a particular network. We may not be relying on the handset at all.
One of the things we've focused on is how we can take advantage of and leverage existing infrastructure and be able to use it in a whole new way. You used the example of how we can link and verify your mobile phone number with a PIN to your PayPal account. Now you can use an existing point of sale terminal, enter your phone number and a PIN, and pay with PayPal that way. You're not using your mobile phone, but you're using your mobile phone credentials and your PayPal credentials to facilitate a payment on an existing point of sale network.
That's another way for a merchant to be able to enable a mobile payment or a PayPal payment without having to worry about incremental infrastructure costs. The approach we're taking is not necessarily...because a lot of companies are saying we're going to make a wallet related to NFC, meaning that merchants would have to create NFC terminals, and then you'd have to rely on a network and a handset that has those capabilities. That's limiting in a lot of ways, both for consumers and merchants.
We're taking more than one approach and are trying to tackle it in quite a few different ways to make it much more effective for merchants to compete and keep up with the pace of innovation.