Recent improvements in credit quality, and targeted investments in the post CARD Act and Durbin reform environment cause our economic and payments outlook to shift from guarded to cautiously optimistic. Clearly a high price is being paid for this expansive change, and the impact to debit, credit, and checking overdraft revenue is sobering, but provides an important impetus for innovation, targeted growth, and scale. And while continued uncertainty about the recovery and unemployment remain, we anticipate "green shoots" in specific high-growth segments of payments like healthcare, education, global transportation, and business-to-business payments. To address that opportunity, we are already witnessing issuers, acquirers, and networks positioning alternate payments instruments, and planning new global expansion. Over the last six months many of the leading payments companies have launched new products, formed strategic partnerships, and announced plans to boost hiring across targeted distribution channels and key segments, and we anticipate this will continue. There are clearly opportunities in the shadow of the massive changes the payments industry has just experienced.
Organizations willing to embrace this point in time, with pragmatic optioning strategies, and an eye towards practical innovation are likely to be rewarded as segment leaders in our new payments environment.
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