S-I/A Table of Contrail wholly-owned entity in Poland named PoIcard, which we acquired in 2007. In the Middle East and Africa, we have established a footprint in the United Arab Emirates, Saudi Arabia, Qatar. Egypt, and we recently launched our acquiring business in South Africa. We believe our EMEA business will continue to benefit from several industry and regulatory trends. We believe the shift to electronic payments will continue to drive growth in the region. particularly as more commerce moves online and businesses and financial institutions in Central and Eastern Europe and the Middle East and Africa continue to develop and mature. Similar to the United States and Canada, we believe the penetration of new industry verticals, small businesses, online and mobile commerce. prepaid products, and commercial transactions will continue to drive core growth in the region. while the adoption of more advanced commerce-enabling solutions, such as IPOS, business management software apps. and data and analytics solutions, will fuel a second wave of growth among mote established bunnesscs. In the European Union. we believe there are also several regulatory initiatives which could help drive new growth opportunities for First Data. We believe the implementation of the E.U. Regulation on Multilateral Interchange Fees, which caps interchange fees at 30 basis points for credit transactions and 20 basis points for debit transactions, could help incentivize more businesses, particularly smaller ones, to accept electronic payments and adopt complementary commerce-enabling solutions. Since the European Union also has a proportionally high use of debit cards, we believe this regulation could also drive financial institutions to seek new sources of revenue through the issuance of new payment products, technology innovation and the adoption of other commerce-enabling solutions, which we are well positioned to help them achieve. We believe the implementation of the E.U