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SETTLEMENT PROCESSING ASSETS AND OBLIGATIONS (Tables)
 6 Months Ended
Jun. 30, 2017
Offsetting [Abstract]  
Offsetting liabilities
As of June 30, 2017 and December 31, 2016, settlement processing assets and obligations consisted of the following:
 
June 30, 2017
 
December 31, 2016
 
 
 
 
 
(in thousands)
Settlement processing assets:
 
 
 
Interchange reimbursement
$
292,935

 
$
150,612

(Liability to) receivable from members
(138,825
)
 
71,590

Receivable from networks
855,021

 
1,325,029

Exception items
6,731

 
6,450

Merchant reserves
(15,916
)
 
(6,827
)
 
$
999,946

 
$
1,546,854

 
 
 
 
Settlement processing obligations:
 
 
 
Interchange reimbursement
$
67,467

 
$
199,202

Liability to members
(17,468
)
 
(177,979
)
Liability to merchants
(768,353
)
 
(1,358,271
)
Exception items
7,531

 
21,194

Merchant reserves
(154,826
)
 
(158,419
)
Reserve for operating losses and sales allowances
(4,785
)
 
(2,939
)
 
$
(870,434
)
 
$
(1,477,212
)
Offsetting assets
As of June 30, 2017 and December 31, 2016, settlement processing assets and obligations consisted of the following:
 
June 30, 2017
 
December 31, 2016
 
 
 
 
 
(in thousands)
Settlement processing assets:
 
 
 
Interchange reimbursement
$
292,935

 
$
150,612

(Liability to) receivable from members
(138,825
)
 
71,590

Receivable from networks
855,021

 
1,325,029

Exception items
6,731

 
6,450

Merchant reserves
(15,916
)
 
(6,827
)
 
$
999,946

 
$
1,546,854

 
 
 
 
Settlement processing obligations:
 
 
 
Interchange reimbursement
$
67,467

 
$
199,202

Liability to members
(17,468
)
 
(177,979
)
Liability to merchants
(768,353
)
 
(1,358,271
)
Exception items
7,531

 
21,194

Merchant reserves
(154,826
)
 
(158,419
)
Reserve for operating losses and sales allowances
(4,785
)
 
(2,939
)
 
$
(870,434
)
 
$
(1,477,212
)