Posted by Sharon Robb on Mon, Jun 14, 2010 @ 03:31 PM
K - we promised more on this and Dorsey and Square are moving along in Beta, press, pricing and more - let's talk!
First - take a look at our first blog re Dorsey's Square - the card reader, the premise and the promise of a very unique credit card processing product - with your iPhone or Droid. Awesome. What's new since our first writing...
Pricing - it's out. Currently Square is charging 2.75% of the sale and 15 cents/transaction for card present and 3.75% for keyed transactions (card not present - always more costly). As far as standard industry pricing goes - the swiped fee is high, the keyed is high, the transaction cost is pretty average. Square does not take into account standard industry discount pricing (qual, mid qual and non qual). No costs for payment gateways though, or PCI, statements or monthly minimums - attractive...if you are a merchant with low processing volume.
A recent Fast Company article by Noah Robischon touts the device as an evolution and "champion" in the big bad credit card processing industry (we suffer this indignity a lot but I like this rag...must they???). We AGREE with Fast Company - we like the product - it's cool and of a new era but take umbrage with a few liberties in the article and well, portions of the Square site and claims.
The article -
- The "disruption that could be caused by Square in the convoluted credit card system". Ah convoluted - agreed - we'd like things (i.e. all those interchange rates) to be simpler (like taxes maybe?) but credit card system? card issuing and acceptance are far from one and the same - vague terms like these are confusing and muddy the waters.
- "the card company"...same thing. This is? Visa? MasterCard? the issuing bank? the ISO (independent sales organization?) - all different interests and roles.
- Merchant Fees and chargebacks are deducted at the month end making it difficult for businesses to gauge cash flow? (Square settles daily) Um, anytime a merchant likes he can opt for daily assessments, in fact, if you have lousy credit the processor will insist - it's not a plus and inhibits cash flow. Why pay daily when you can divy up at the months end?) - and todays processors give merchants 24/7 real time access to the daily details of their transactions, chargebacks, sales volume, and costs - todays merchant is more savvy than Robischon gives credit and so is the big bad processor.
- As a "result of the financial crisis, more and more of a microscope is being placed on this industry". The scrutiny of interchange has rightly been in place for a long time - long before the financial crisis caused in large part by the subprime housing debacle.
- Square has a more transparent pricing alternative. Since Visa and Mastercard went public - wholesale pricing has been available to every size merchant - it doesn't get any more transparent than cost plus.
- A Free "reader" - don't know a merchant account provider today that isn't giving away equipment - old hat.
Don't get me wrong - we like the concept of Square! but with 1000 "Beta" users already, I doubt Visa or MasterCard is sweating bullets that this is what will evolutionize electronic payments. We still maintain that the concept and product serves a unique market - P2P payments and the small volume merchant. Neat product - disappointing article.
The Square site and cost comparisons to a "typical merchant account" - oh come on - have you googled merchant account lately??
- No contracts - pulllleeeaze - 17 pages of terms and conditions covering underwriting, card network rules, reserves, PSA (payment services agreement) that must be signed prior to processing, no guarantee or warranty that service will work or be available and well, so on.
- Free Reader - already addressed this - you want a free one - ask any merchant provider - no problem. You want a free, wireless credit card processing terminal? - they'll probably give you that too....
- Free setup - Google please - we've been providing free applications and set up for YEARS and so is just about everyone else.
- Card present discount rate??? 1.79 quoted by Fast Company as industry average - close - pretty ballsy of Dorsey to claim 2.9%.!
Lastly, when you don't get funded or your money is held in reserve - who ya gonna call? Not Square - I guess you can email though. I can think of at least a million merchants who definitely might not like that.
Come on guys - we like your product... it is techie, gadgety cool - but let's make sure we put it ALL out there. Squares terms and conditions (contracts in laymen terms) also notes transaction limits on the site - but we can't find'em - crucial to processing merchants....don't want to get that big order only to have the funds held because of going over the established "limits".
We don't like the complexity of the industry any more than our merchants do (try training new staff!) - but the issue is not as black and white as some such as Robischon would make it out to be.
Posted by Sharon Robb on Thu, May 06, 2010 @ 09:01 AM
PCI DSS continues to create questions for our merchants.
Who created the standards? Are they law ? (very nice but do we have to?) who's enforcing all this stuff? and so on.
The standards are developed by a security council comprised of the major card brands and most everything you need to know can be found on their site - PCI Security Standards Council. You can find merchant requirements by size right here on our PCI DSS blog.
Enforcement and the law are other issues.
Currently PCI DSS is "enforced" by the card brands and put in place by payment processors. The processor works with each merchant and merchant account to ensure standards are met and the merchant is charged for the cost of compliance. Merchants found to be out of compliance, who experience a data breach, can be fined by Visa or MasterCard and risk losing credit card processing privileges (think livelihood folks).
Two issues stand out when it comes to the law, merchants and securing the confidential data of consumers using credit cards to purchase goods and services - notification of data breaches and PCI DSS compliance.
Data Breach Notification. If a breach is detected by a merchant...do they have to tell and WHO do they have to tell? Currently and amazingly, there is no federal law legislating actions regarding a data breach though they are in the works. S.139 - the Data Breach Notification Act is still alive but hasn't gone any further since November of 2009, H.R.2221 Data Accountability and Trust Act - last point of action- was passed in the House in Dec. 2009. These things take time.
Your state may be another story. Since 2002 and California's SB1386, many states have enacted notification laws requiring companys to notify consumers if their data has been lost or "compromised". Typically the laws address what must be reported to the consumer - type of data compromised, who must report the breach, how consumers will be notified (electronically, in writing, etc.) and how quickly.
To see if your state has a law regarding security breaches check this list from the
National Conference of State Legislatures - almost all do.
While each law is different, in addition to notification - legislature seems to be moving towards merchant liability in security breaches (maybe data security ISN'T such a bad idea!). In other words, states are also enacting PCI DSS compliance law.
The state of Minnesota is the first to make merchants (2007) not compliant with PCI DSS liable for associated financial institution costs in instances of security breaches (i.e. reissuing cards, customer refunds for unauthorized charges, closing and reopening accounts, etc.). Could be costly.
In 2009 Nevada updated its encryption law to mandate all businesses in the state that accept credit and debit cards be PCI DSS compliant - pretty strong statement. In March of 2010, Washington enacted merchant liability laws relevant to PCI DSS compliance similar to that of Minnesota. Businesses with a breach, found to be out of compliance, will be held financially responsible for costs associated from the incident. Merchants take note - these laws apply to out of state businesses transacting business in the state.
It's worth noting here I guess that some of these new laws are relevant only to merchants handling a large number of transactions or level I merchants. We suspect however, that not only will other states follow suit but to some degree, eventually - all levels of merchants will be held liable for compliance.
Moral of the story? PCI DSS is not going away. Expect standards to get tougher if anything and while the federal government is lagging - states are taking steps to protect consumer card data. If you're a credit card processing merchant - you should be too.
Posted by Sharon Robb on Tue, Mar 23, 2010 @ 09:31 AM
So we promised to continue our "mobile merchant account" discussion, starting by unveiling the latest and the greatest (see our take on Dorsey's Square for the iPhone).
Next up is what the payment's world is touting as Square's competitor in the marketplace - VeriFone's PAYware Mobile (VPM)- a complete processing solution for yet again - Apple's iPhone. What's the ditty?
Three components of the VPM solution:
A durable card reader that slips over Apple's iPhone. Allows merchant to to process card present transactions - lowering the cost and risk of the transaction.
The PAYware Mobile Gateway - a secure payment gateway for transaction processing - connected to the First Data platform but touted as compatible with other processors with some "app manipulation" (we're okay with First Data!)
The PAYware Mobile App - a free application downloadable to your iPhone - when paired with the gateway and card reader - enables the iPhone to accept secure credit card payments - anywhere, anytime.
So what's the difference between Square and this brand new smoking hot mobile processing solution from VeriFone?
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Square's still in Beta. Testing 1, 2, 3. PAYware is on.
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Security - VeriFone is a trusted leader in POS solutions in the electronic payments industry AND the PAYware Mobile card reader encrypts the data at the swipe - (see
PCI DSS folks). Square security is iffy - no encryption that we no of....Mr. Dorsey specializes in social media - i.e. Twitter, NOT credit card processing.
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Currently - the VeriFone solution only works with the iPhone 3G or 3GS -Squares method (hardware plugs into the headphone jack) is preparing for further mobile device compatibility. Reviewers so far however, seem to like the solidity and fit of the VeriFone card reader when compared to the Square.
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Costs - So far VeriFone is noting a $49 activation fee and $15/month for the payment gateway and .17/transaction fee
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Merchant Account - you need one. Doesn't come with the product. Hmmm - this means -
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VeriFone PAYware Mobile costs are on top of the costs you are already paying for your merchant account or will pay when you get one.
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It negates some of the unknowns and drawbacks we outlined regarding
Square, it's costs, (not sure) and limitations, i.e. ticket parameters, reserves, lack of fund control, timeliness of funds, impact on cash flow (again - we just don't know and when it comes to business and money - we NEED to know).
We still contend - like others, that Dorsey's Square seems far more suitable for the now and again, person to person payment than for a small business looking to increase revenues and cash flow with quick, efficient, and SECURE credit card processing through use of Apple's iPhone - all depends on your needs I guess.
That get's back to what we do! Electronic payment professionals at XBS assess the needs of each individual business we work with - we'll tell you straight up and point you in an "educated" direction.
When it comes to processing electronic payments, ignorance is not bliss - it's risky.
Posted by Sharon Robb on Sat, Feb 27, 2010 @ 09:10 AM
And by chaos you know what I mean - the financial debacle in the US, right now. The Dow's up -but for how long? Lending is non-existent, bankers are still drawing some ah, unusual salaries and bonuses and now Barney Frank of the House Financial Services Committee says the issue of interchange fees is not on the 2010 agenda.
Arggghhhh. That's for my merchant friends. I can tell by the way they hang up when we call them to market our electronic payment services that they are confused about what we do....we don't make money on interchange. We do collect interchange fees for card issuing banks for each credit or debit card transaction run by our merchants. We PROCESS the transaction. Whew! just wanted to clarify... again.
If you're still confused about interchange revisit our blog on the issue -you're certainly not alone.
What is of concern is the rising cost of these fees - set by VISA and MasterCard and paid to the banks that issue their branded cards - for the merchants that pay them. Merchants and advocacy groups have been pushing for years for interchange fee regulation and caps - claiming the fees force them to raise the costs of their goods and services to the consumer. Maybe.
Unfortunately the issue is complex. Will the regulation of fees really mean a cost reduction on the consumer end of things? A November 2009 article in the New York Times examines the outcome of just such an act when the Australian government stepped up in 2003, cutting merchant fees in half. The results have been predictable - tough to sort through.
While merchants are paying less - it would seem sometimes the consumer is paying more - with less available credit, fewer or shrunken rewards programs (no!), higher annual credit card fees, and shorter time periods before the accumulation of interest on balances.
More bizarre is the unexpected surcharges by Australian retailers and merchants to the consumer that uses a credit card (not allowed currently by the card networks but with deregulation....) - and this after their own costs have been lowered. Not only are some merchants covering costs with the surcharges, some are making a profit. Now that's a fine how do you do!
Yes, US banks make billions from interchange fees. They have lobbied hard against government intervention and claim that the consumer will experience rising costs with credit card use and fewer benefits should the fees be capped or regulated. Again, maybe.
Of course last year keep in mind - a new trend developed that will no doubt ooze into 2010, maybe even beyond - record losses. In yet another NY Times article last year, Banks Brace for Credit Card Write Offs, authors Dash and Martin tout estimates of between 82.4 to 186 billion in overall losses for card issuing banks, as the US continues to shed jobs and with that, the ability of Americans to pay their credit card bills.
What to believe? What to do?
Only that at the very least, for 2010 anyway - interchange fees will remain intact - plan on it. Merchants should be aware of costs and educate themselves on how to implement cost saving processing methods. The credit card processing industry seems hell bent on ever increasing complexity.
To do this, you need an electronic payments professional you can count on, not entry level sales staff. That's just the way it is. ASK your provider...how long have you been in this industry? Review your methods and pricing, secure a professional relationship and focus on what you do best - you're own products and services.
Posted by Sharon Robb on Tue, Feb 23, 2010 @ 12:06 PM
All of the December 2009 and January 2010 credit card processing industry rags are touting mobile payments as "the thing" in 2010. Growth, applications, and opportunities are arriving rapid fire - and so we're going to try help our merchants sort it all out (I'm dancing as fast as I can).
So....let's launch with the newest gadgetry that's creating a great deal of buzz...Square.
Jack Dorsey, founder of twitter (very cool we agree) -announced a new venture - development of mobile payment technology compatible with Apple's iPhone called Square. The hardware and service is in "beta" mode (just testing so chill folks) but it sure has raised a ruckus of attention in the online community.
The ruckus is two fold -
One is WOW that's mobility in a small convenient package. The Square, is little, plugs directly into the IPhone, and allows the iPhone user to accept a credit card payment from anyone, anywhere - swiped (lower risk).
Two - it comes with the merchant account with a simple, flat rate transaction fee (no rates on the website so we only have rumors and tweets for info). Excuse me? No application, no underwriting? Fascinating.
Jeff Green, Editor-in-Chief of Payments Source - talks about the device and service in his Editors Letter in the January/February 2010 issue. It's exciting and Dorsey's getting a lot of publicity, but things are all quite vague when it comes to the payments processing and Green notes in his letter that perhaps Square will act as an payments aggregator, such as PayPal, running all of the transactions through their own merchant account. All still up in the air - but a quick gander at the site turns up a few vital points for our small business friends always looking to reduce costs we know -
- Square touts No contracts - I printed 17 pages worth of Square "Service Agreements and Payment Services Agreements" right off the site. Most of us don't need to check with an attorney to know what that means - legal agreement = contract. There might not be a length of service contract but anybody taking money from and delivering to, bank accounts electronically is working on a contract - has to be. In this case apparently there may even be two - one with square and if they deem it so, one directly with the payment processor.
The Square Service Agreement -
- No warranty - this one's pretty clear - at this poing in time Square does not guarantee it's service - for availability, dependability or risk. No mention of PCI DSS.
- Communications - electronic only currently - no matter what your question or issue - no calling'em.
The Payment Services Agreement-
- Reserves - "Reasonably determined" - new accounts have to have one (I'm guessing that's everybody) equal to 14 days of sales activity plus pending disputes. The reserve could be raised or removed based on activity, credit reviews etc. If you don't keep sufficient funds in the reserve it may get funded from your Square Account, i.e. credit card processing sales.
- Transaction limits - Square accounts have transaction limits - no idea what these are yet - stay tuned.
- You need to provide a written receipt to your customers for any transaction over $15 - you can give the customer the option to decline it of course and you can offer an email receipt, but not in lieu of.
- Availability of Funds - doesn't say when you get your money - 2 days? 3? 5? just that Square can limit your access to your Square account funds if they feel they are at financial risk or other agreement parameters are in dispute.
- Fees - doesn't say.
Ok - so remember Square is in Beta - I'm sure they'll work out these kinks but at quick glance we can't help but think these current questions raise some real issues for businesses. The application does seem fun for P2P (person to person) payments - think garage sales, girl scout cookies, PTA fundraisers, etc. or maybe the handyman, lawn guy, tupperware and avon lady, that doesn't do enough processing to warrant their own merchant account but wants to offer the convenience of credit card sales. That's cool.
The term small business is pretty broad though. Most merchants we service need electronic payments professionals to navigate POS equipment, funding and value added services above and beyond the "merchant account".
Today there are a number of overwhelming factors that impact a merchant's ability to process credit cards securely AND profitably. Merchant account agreements are indeed complex and typically include 8-12 types of fees depending on the type of card used in the sale as well as the method and equipment used in the processing. Cash flow, prompt funding, fees and rates, PCI DSS are essentials for processing success and a casual approach isn't recommended.
We'll be hearing more about Square for sure - I'll keep you posted - in the mean time - think payments professional to answer your processing questions about rates, equipment and "going mobile with your business".
Posted by Sharon Robb on Wed, Feb 10, 2010 @ 03:09 PM
I waited to write this post, in hopes that the new year would wreak some sense out of the chaos regarding the "credit crunch" that has besieged US businesses. The information "out there" is ...conflicting at best. But you don't have to be a news junkie to get the gist - US businesses are failing at alarming rates - and cash flow seems to be a predominant issue.
Accordin
g to the American Bankruptcy Institute - an organization that tracks insolvency in this country, business bankruptcies increased by 44% from 2006 to 2007, and 54% from 2007 to 2008. Ouch.
Ironically, a recent article in the December 2009 issue of CFO poses the argument that access to credit is not at issue - and the "contraction in small-business credit is actually due to a lack of demand". Is this possible? The author Alix Stuart goes on to cite a survey by the National Federation of Independent Business (NFIB) in September in which only 10% of 827 small business owners surveyed said they couldn't access financing.
What's with all the bankruptcies then?
The fact remains that SBA lending between September of 2008 and 2009 was down by 35% (remember even with SBA backing - it's your bank's money being loaned). Even private investment in US small business remains markedly low when compared to recent years.
General consensus despite the naysayers remains - access to capital for todays new and veteran business owner remains negligible.
Merchant cash advance for processing merchants remains an option for access to capital. This advance is based on a merchants future credit card processing sales. Unlike a traditional loan there is no set payment amount because payments are based on a percentage of the monthly credit card sales volume and as such fluctuates with the merchants income - a big plus.
Remember some of the other benefits we've touted in our blog post - no personal guaranty, quick approval times, fast cash in the bank, etc. The drawback is typical of fast money - cash advances can be costly....but if the alternative is bankruptcy, is it worth it?
Unlike in years past, even merchant cash advance providers are taking a closer look at the merchants they work with. Merchants must show a processing history of 4 months to even a year as well as a certain monthly volume in sales, may be asked to produce an active property lease, and/or may even have their credit checked (say it ain't so! is there no end to the scrutiny?).
As a merchant account cash advance provider we don't claim to know or provide advice as to whether this option is a good one for each and every one of our very unique merchants...but we can't help but think it's a viable one - if bankruptcy is looming.
Typical merchant use for cash advance use to be things like paying taxes and remodeling, but our industry is touting new uses by their merchants with the money advanced on future sales. Not just in survival mode, merchants are using the money to refine their product lines or tweaking their brands in reaction to the marketplace.
We like this.
Posted by Sharon Robb on Mon, Dec 14, 2009 @ 03:09 PM
So many numbers!
Remember we've defined interchange - simple. Then we moved on to interchange cost plus pricing - also referred to as "pass through" or even wholesale pricing. This model of pricing credit card transactions remember - passes on the true wholesale cost of the transaction to the merchant - you can see it. It would be like seeing how much that Dell computer cost Best Buy - now you know the markup. Pretty sweet.
Merchants seem to be troubled by the fact though, that Visa and MasterCard have upwards of 150 or more different interchange rates based on how the credit card is processed, risk, type of card, type of business, etc.
We ask you to keep in mind however, that certainly most merchants do not encounter this many different interchange rates on their monthly statement. In fact the average merchant may see only 8-10 different interchange rates on their typical monthly statement from their payment processor. Not all that different from a statement with tiered pricing - just less costly!
Very clear cut really. Very dependable. The most cost effective, transparent pricing model in the industry, recommended by merchant advocates everywhere.
Posted by Sharon Robb on Tue, Dec 08, 2009 @ 02:50 PM
Free equipment, free credit card processing terminals! An online search for merchant accounts, credit card processing or credit card terminals and printers creates a brouhaha of results such as these.
So is this a good thing?
A word or two - about credit card processing "equipment".
A free standard credit card terminal and/or credit card imprinter, software or some lower end free solutions are fine for newly processing or low volume merchants. Understand that free is a relative term however, and accepting these programs ties you to the loaning merchant account provider and payment processor for the length of use. Usually a few additional "conditions" in the paperwork. Might work.
Keep in mind however, that in the overall equation of credit card processing - the free equipment offer is a small component - while the merchant account itself - pricing, fees, how the application is processed and set up - is what largely determines a merchants monthly costs to process sales via credit cards.
Yes XBS has free equipment programs - but free equipment doesn't meet the needs of every business -not by any stretch of the imagination.
Credit card processing equipment has changed radically with technological advances over the past 40 years, - think about it.
When I worked my way through college waitressing and tending bar I used a credit card imprinter for restaurant charges. Walked around with a wad of credit card receipts in my apron (if any went lost there went the merchants sale and money!) to be accounted for, tallied and I suppose - literally mailed out to the payment processor in the morning by the bookkeeper - talk about labor intensive! and secure? ah, not. I'll bet those funds didn't hit the business bank account for a good 7-10 business days - what a drag.
Compare that to todays equipment and security requirements (PCI DSS) by card associations- processing credit card transactions in real time with secure data encryption methods, via the internet, phone lines or cell phone service. Funding in 24-72 hrs depending on your processor. Transaction authorizations in seconds (they used to expect merchants and their employees to pour through outdated books of bad cards - get real!).
There is immeasurable value in these advances - lower costs - processing and labor, increased cash flow, integration with additional POS equipment and accounting systems. Heady stuff! In addition to all the benefits - like most technological advances (think computers) - costs are not as high for these products as they once were. Investing in state-of-the-art credit card processing equipment for a busy, viable, growing business - is a worthwhile endeavor.
Watch out for proprietary equipment! Some equipment and solutions only work with specific processors. Today's equipment should be reprogrammable so that should you need or want to - you can change payment processors.
Again, like computers, credit card processing terminals have operating systems (progressive versions) and a certain amount of memory. Two terminals can appear to be the same when in reality they have different performance, function and memory capability, a factor that can influence some of the wildly varied pricing you may see across the internet - vendor by vendor.
Due diligence please to equipment! Todays equipment costs, like the capital investments we make in computers and other hardwares and their operating systems, typically create tomorrows savings, efficiency's and streamlined processes.
What is important, is that you get the best value for your business. That may or may not be, free credit card processing equipment.
Posted by Sharon Robb on Mon, Nov 23, 2009 @ 06:22 AM
Fascinating news in this mornings Observer - Charlotte's Salvation Army is testing credit card acceptance - Visa, MasterCard and American Express - at a number of red kettles this Christmas season throughout the city.
Jim Price - the agency's director, points out that folks appear to be carrying less cash than in years past (pretty observant) and other payment options seem to be called for.
Apparently - the idea has been tested in a Salvation Army chapter in Dallas/Fort Worth and guess what? Credit card donors gave an average of $14 at the Kettle, compared to the average $2 given by cash donors.
What's interesting about this picture?
- It is textbook credit card processing benefits - i.e. using credit cards can increase the amount of your average ticket or sale or in this case donation.
- Using credit cards makes tracking sales easier.
- The salvation army is a smart merchant, combining what we know about trends in credit card use and cash on hand.
- Mobile or wireless credit card processing is easy!
The Salvation Army is not rated by Charities Navigator because of the agency's religious mission and thus a lack of reporting requirements -but sure has been around doing good works for a long time.
Charlotte's Salvation Army Chapter is working to serve more families than ever before, like all of our charitable organizations this year. Check out the agencies mission and give'em a call if you have the faith in their missions and outreach.
We can certainly say this about the organization - their implementation of a program to accept cashless transactions or credit card payments-donations is smart, cost effective and likely to increase cash flow.
I like that in my charities.
Posted by Sharon Robb on Thu, Nov 19, 2009 @ 11:37 AM
Kate Fitzgerald's recent article in Cards & Payments put some umph in recommendations that wholesale or business to business merchants give some serious thought to accepting credit and purchase cards for payments.
It seems some major card issuers are seeing purchasing and T and E (travel and entertainment) card activity on the move...upwards - as more businesses make the shift from spending with paper check to plastic. The benefits are bountiful in tough economic times - primarily - the ability to track and control costs across the board. Benefits go deeper - but substantial cost savings are a great place to start.
But how does this affect the wholesale merchant or business providing services and products to these businesses that now purchase with cards?
Fitzgerald notes that key categories for purchasing card transactions include computers, telecom and printing equipment, media and advertising services, as well as transportation and delivery serivces.
Merhants who sell these products and services to other businesses should take note, processing commercial cards with the wrong equipment or without a specialized B2B merchant account can be costly. B2B credit card processing or wholesale processing is more than just taking cards. Level II processing requires the appropriate input of information with the transaction and Level III processing means the appropriate equipment, programming and merchant account...if you want to process your customers cards at the lowest possible interchange or discount rate.
Besides keeping your customers who now buy products with corporate credit or purchasing cards happy, your business can benefit from reduced paper transactions in the same way your customers have. Consider Fitzgeralds references to the cost of an average paper transaction - $90...up to $150 in large organizations! How about eliminating paper invoices and bulky statements?
It's true, accepting the card vs a check has a cost to it as well - interchange fees and the cost of the service, but quick, guaranteed payment via the card is huge, not to mention those overhead cost savings Fitzgerald touts.
Purchasing cards are being touted as the norm in as little as "five years" ...will you be a B2B processing merchant by then? or more importantly, will you be a profitable, B2B processing merchant?