Question-and-Answer Session
Operator
(Operator instructions) We’ll pause for just a moment to compile the Q&A roster. So our first question is from Wayne Johnson with Raymond James.
Gora Bora – Raymond James
Hello.
Bill McKiernan
Hi, Wayne.
Gora Bora – Raymond James
Hi. Actually this is Gora Bora [ph]. I work with Wayne. I’m going to ask a question on his behalf.
Bill McKiernan
Sure.
Gora Bora – Raymond James
All right. So could you expand on pending European merchant connections, and are European banks involved in that process? And I guess, which ones?
Bill McKiernan
Yes. So Gora, we – as we’ve talked about on prior calls, we’ve been working hard to develop a relationship with the European who provide sponsorship to CyberSource to allow us to underwrite merchants outside the US. We have identified a potential sponsor. Those discussions have matured very nicely. We’ve got a pilot currently underway. The final agreement is not done yet, but we’ve gotten far enough where we got a pilot underway to test the connection and get some merchants live.
So as I said in my earlier remarks, within the next 90 days, we’ll be able to share more about the relationship and the opportunity there.
Gora Bora – Raymond James
Okay. Sounds good, looking forward to hear it. And one more question, do you guys have plans for future expansion overseas in China or any other Asian countries?
Bill McKiernan
Yes. That’s a good question. What we’ve talked about is that Europe was – is at the top of our list, but Asia is right behind it. As a matter of fact, our COO, Scott Cruickshank, is heading off to Asia this weekend to meet with potential partners in that region of the world as well, so. I think we’re buoyed by the progress we made in Europe, and now looking at Asia as the next big opportunity for us.
Gora Bora – Raymond James
Great. Thank you so much. Appreciate it.
Operator
Your next question is from David Shore with JMP Securities.
David Shore – JMP Securities
Hi. Good afternoon, Bill.
Bill McKiernan
Hi, David.
David Shore – JMP Securities
A couple of questions here. First, just on the small business side, on A.Net, any comments you can give us about the pricing environment with contract renewals. Is it staying pretty firm in this environment?
Steve Pellizzer
Yes. I mean we haven’t seen anything change with regard to the pricing of that small business and small business market. In fact, if you look at sort of the average transaction price with that small business sector, it’s actually increased $0.01 compared to last quarter, so. It’s been a positive change, if any.
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