We are a value-added provider of merchant payment processing services and other related software products. We provide credit and debit card-based payment processing solutions and services to small to medium-sized merchants who operate either in a physical "brick and mortar" business environment or over the Internet. Our payment processing services enable merchants to process both traditional card-present, or "swipe," transactions, as well as card-not-present transactions. A traditional card-present transaction occurs whenever a cardholder physically presents a credit or debit card to a merchant at the point-of-sale. Card-not-present transactions occur whenever the customer does not physically present a payment card at the point-of-sale, including over the Internet or by mail, fax or telephone.

Our primary customer base consists of small to medium-sized merchants. We estimate that there are approximately 4.9 million merchants in the United States, representing 6.1 million locations, of which we estimate there to be 3.2 million small to medium-sized merchants currently accepting Visa and MasterCard credit cards. Additionally, a little under 600,000 new businesses open every year in the United States. We believe that the small to medium-sized merchant market offers us significant growth opportunities for the "first time" installation and subsequent servicing of credit card authorization and payment systems.