Thank you, Chair.
Mr. Green, this whole notion of not being a card issuer is something that I recently was helped to understand by folks in your company. It adds a lot of wrinkles, I think, to how this process works.
I'm just wondering if you could walk me through a few things.
Mastercard is in charge of the payments, the transactions themselves, and then you have a card or a device or a website, sort of these third party things out there if you're using Apple Pay or something like that. And then there's the bank, which would be the card issuer.
Through that triangle, if I could put it that way, how would the accountability work, let's say in terms of my information? In other words, if I'm using my phone to pay for something and there's an issue, then is it incumbent on the banks, the card issuers, is it incumbent on Mastercard, is it incumbent on Apple because they caused a problem with Apple Pay? How does that work?