Chris A. McWilton: In the U.S., we are going to process the transaction whether it’s cross-border or not. Yields is much higher in the U.S. than we see in other parts of the world if you take out the cross-border activity, just based on processing. We also process in the U.K., Canada, and Australia and Brazil.

Gregory Smith (Merrill Lynch): Is it possible for sales and marketing to be down for the full year, despite your optimistic outlook?

Chris A. McWilton: Sometimes we have shifts in timing of our end marketing programs that are driven by our customers that we do not have unilateral control over.
Robert J. Dodd (Morgan, Keegan): On the G&A side, why have some of those expenses slipped into the fourth quarter?

Chris A. McWilton: The biggest piece is the personnel cost. Our business units have plans to bring the folks on board to work on projects and initiatives with customers. We saw a delay in hiring as people did not come on as quickly as we thought they would.

Robert J. Dodd (Morgan, Keegan): Why are you having the delays in hiring?

Chris A. McWilton:There is a relative scarcity of resources in the technology area, as well as customer-facing people that have the skill sets we are looking at to deal with customers at the level we are expecting to.

Mark Sproule (Thomas Weisel Partners): On the debit market, is there any inclination of trying to make a bigger splash in the PIN debit market to counteract competition?

Robert W. Selander: We are making big splashes in it. We had nearly 15% growth in purchase volume in our domestic signature-based debit. Outside of the U.S., Maestro is a very strong performer, with over 600 million Maestro cards.