Segment Information

3 Months Ended

Mar. 31, 2014

Segment Reporting [Abstract]

SEGMENT INFORMATION

SEGMENT INFORMATION

The Company’s reportable operating segments have been determined in accordance with ASC Topic 280, Segment Reporting. The Company currently operates in the following three reportable operating segments:

1) Through the EFT Processing Segment, the Company processes transactions for a network of ATMs and POS terminals across Europe, the Middle East and Asia Pacific. The Company provides comprehensive electronic payment solutions consisting of ATM cash withdrawal services, ATM network participation, outsourced ATM and POS management solutions, credit and debit card outsourcing, dynamic currency conversion and other value added services. Through this segment, the Company also offers a suite of integrated electronic financial transaction software solutions for electronic payment and transaction delivery systems.

2) Through the epay Segment, the Company provides distribution, processing and collection services for prepaid mobile airtime and other electronic payment products in Europe, the Middle East, Asia Pacific, the United States and South America.

3) Through the Money Transfer Segment, the Company provides global consumer-to-consumer money transfer services through a network of sending agents and Company-owned stores (primarily in North America and Europe), disbursing money transfers through a worldwide correspondent network. The Company also offers customers bill payment services, payment alternatives such as money orders and prepaid debit cards, comprehensive check cashing services, foreign currency exchange services and mobile top-up.

In addition, the Company accounts for non-operating activity, most share-based compensation expense, certain intersegment eliminations and the costs of providing corporate and other administrative services in its administrative division, “Corporate Services, Eliminations and Other.” These services are not directly identifiable with the Company’s reportable operating segments.

The following tables present the Company’s reportable segment results for the three months ended March 31, 2014 and 2013:

	For the Three Months Ended March 31, 2014
(in thousands)	EFT Processing		epay		Money Transfer		Corporate Services, Eliminations and Other			Consolidated
Total revenues	$	74,605	$	185,064	$	94,000	$	(354	)	$	353,315
Operating expenses:
Direct operating costs	37,338		143,341		45,972		(313		)	226,338
Salaries and benefits	11,095		13,594		23,310		5,575			53,574
Selling, general and administrative	6,102		9,087		16,145		1,537			32,871
Depreciation and amortization	7,296		4,146		4,633		75			16,150
Total operating expenses	61,831		170,168		90,060		6,874			328,933
Operating income (expense)	$	12,774	$	14,896	$	3,940	$	(7,228	)	$	24,382

	For the Three Months Ended March 31, 2013
(in thousands)	EFT Processing		epay		Money Transfer		Corporate Services, Eliminations and Other			Consolidated
Total revenues	$	63,334	$	189,575	$	82,903	$	(168	)	$	335,644
Operating expenses:
Direct operating costs	32,912		146,657		39,672		(154		)	219,087
Salaries and benefits	9,645		14,095		20,084		4,903			48,727
Selling, general and administrative	5,848		9,667		12,347		3,141			31,003
Depreciation and amortization	8,316		4,503		4,758		92			17,669
Total operating expenses	56,721		174,922		76,861		7,982			316,486
Operating income (expense)	$	6,613	$	14,653	$	6,042	$	(8,150	)	$	19,158

The following table presents the Company’s property and equipment and total assets by reportable segment:

	Property and Equipment, net as of				Total Assets as of
(in thousands)	March 31, 2014		December 31, 2013		March 31, 2014		December 31, 2013
EFT Processing	$	66,372	$	64,972	$	380,268	$	347,073
epay	26,787		27,176		670,763		757,942
Money Transfer	24,167		23,768		486,671		472,390
Corporate Services, Eliminations and Other	275		314		19,458		20,710
Total	$	117,601	$	116,230	$	1,557,160	$	1,598,115