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Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net income $ 1,417,540 $ 1,760,305
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation expense 325,872 603,968
Depreciation and amortization expense 552,982 608,990
Provision for doubtful accounts 3,786 57,328
Deferred tax benefit 36  
Changes in operating assets and liabilities:    
(Increase) decrease in settlement assets (294,389) 117,192
Increase in accounts receivables, prepaid expenses and other current assets (890,025) (493,038)
Decrease in other long-term assets 314,915 124,786
Increase (decrease) in accounts payable and accrued expenses 33,022 (193,076)
Increase (decrease) in due to merchants 264,847 (120,449)
Other 23,894 34,365
Net cash provided by operating activities 1,752,480 2,500,371
Cash flows from investing activities:    
(Increase) decrease in restricted cash (57,731) 2,038
Increase in merchant reserve (4,369) (1,990)
Purchase of property and equipment (83,159) (60,746)
Capitalized software development (167,311) (288,162)
Net cash used in investing activities (312,570) (348,860)
Cash flows from financing activities:    
Proceeds from issuance of common stock 936,053 772,813
Principal payments on capital lease obligations (78,110) (106,528)
Purchase of treasury stock   (3,621,505)
Common stock repurchases for tax withholdings (25,905) (22,255)
Net cash provided by (used in) financing activities 832,038 (2,977,475)
Net increase (decrease) in cash and cash equivalents 2,271,948 (825,964)
Cash and cash equivalents at beginning of period 13,305,816 14,675,515
Cash and cash equivalents at end of period 15,577,764 13,849,551
Cash paid for:    
Interest 87,825 8,544
Income taxes 295,755 295,589
Non-cash investing and financing activities:    
Common stock issued for stock options exercised 419 98
Assets acquired under capital leases 47,067 98,988
Accrued capitalized hardware, software and fixed assets 64,259 30,667
Capitalized stock-based compensation $ 5,921 $ 6,366