Accounts Payable and Accrued Expenses

9 Months Ended

Sep. 30, 2015

Accounts Payable and Accrued Expenses [Abstract]

(6) Accounts Payable and Accrued Expenses

The following is a summary of accounts payable and accrued expenses (in thousands):


	September 30,		December 31,
	2015		2014
		(unaudited)

Accounts payable	$	1,014	$	979
Accrued processing and disbursement costs		3,282		2,793
Accrued marketing expense		2,205		3,421
BlueKite Acquisition holdback liability		—		1,500
Accrued professional services		1,768		1,294
Disbursement payable		2,966		291
Accrued payroll and employee benefits		1,727		1,307
Other accrued expenses		3,003		2,948
Total accounts payable and accrued expenses	$	15,965	$	14,533

Other accrued expenses in the table above include a reserve for transaction losses. The Company is exposed to transaction losses due to fraud, as well as nonperformance of third parties and customers. The Company establishes a reserve for such losses based on historical trends and any specific risks identified in processing customer transactions. The following table summarizes the activities of the Company’s reserve for transaction losses during the period presented (in thousands):


		(unaudited)
Balance as of December 31, 2014	$	189
Additions to expense		9,871
Losses incurred, net of recoveries		(9,741)
Balance as of September 30, 2015	$	319