Henry Helgeson, CEO
There is a lot of confusion around mobile right now and what exactly is mobile? We've got really two separate ways we can talk about mobile payments. One is mobile acceptance, and that is something where we take a traditional card and run it through a smartphone, similar to the Genius EX product. Or you've got the mobile wallets which is really the issuing side, or it used to be the issuing side. That's the consumer-based wallet that is going to hold the consumer's credit cards, their offers, discounts, loyalty cards, in some case, even tickets and credentials,
There's really a distinct line there between what the consumer has and what the merchant has. When we talk about mobile, we do talk about the Genius EX platform which allows merchants to accept credit cards, but we also talk about mobile as mobile wallets and what the consumers are holding in their hand, and allowing the consumers to use those that are merchants through the ITX, the STX, and the TX platform.