In reply to Ed Starrs.

Agreed, Ed. We, at LoopPay, welcome the news of Apple Pay and think it will ignite consumer interest and help advance mobile payment adoption. However, to bring consumers the ease of mobile pay, reasonable merchant acceptance is critically important. Currently in the U.S., only ~3% of merchants accept NFC. NFC penetration takes patiences and investment. Until we get there, consumers still need to carry wallet and fumble through cards most of the time. It is still very difficult to change the consumer payment behavior to date.