Question-and-Answer Session
Operator
(Operator Instructions) And your first question is from Glenn Greene with CIBC World Market.
Glenn Greene - CIBC World Market
Thank you. Good afternoon, guys, a nice quarter.
Bill McKiernan
Thank you, Glenn.
Steve Pellizzer
Thanks Glenn.
Glenn Greene - CIBC World Market
I just want to get a clarification on the BidPay situation. You read the press release, it says that you are looking at strategic alternatives and you talked about pursuing partnerships. Can you just help us a little bit with what the real thinking is here? Where you are planning on going?
Steve Pellizzer
Yeah, Glenn, I don't want to say too much about it because we are in discussions right now, but I think it's apparent that while BidPay has done a lot on the product side, we feel like creating a partnership with a larger company that can provide some additional marketing muscle, would allow us to get to critical mass more quickly with that business, and so that is our intent.
Glenn Greene - CIBC World Market
So we should not read into this that you're looking to sell the company?
Steve Pellizzer
You know, I think we are approaching the discussions with an open mind.
Glenn Greene - CIBC World Market
Okay. That's fair. Then the transaction growth acceleration was about 6.6%. A large part of that was this big new customer that ramped, is that fair, Steve?
Steve Pellizzer
Yeah, that's correct.
Glenn Greene - CIBC World Market
And do you have a sense what the transaction growth would have looked like without that customer?
Steve Pellizzer
I think, we still would have thought for a similar growth that we have seen in previous quarters.
Glenn Greene - CIBC World Market
Couple of percents, sequentially?
Steve Pellizzer
Correct. Obviously, this customer had a significant impact from both the revenue and volume perspective. The volumes were strong across the Board so?
Glenn Greene - CIBC World Market
Okay and then the acquiring revenue grew even quicker than it's been growing, especially growing off of a bigger base. That explains your revenue per transaction left as well, but anything that came about in the quarter? Any disproportionately large customers or anything like that, since it’s clearly a pretty big acceleration sequentially in the acquiring revenue.
Steve Pellizzer
Well, there's one customer that we mentioned, both the gateway and acquiring customer.
Glenn Greene - CIBC World Market
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