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SETTLEMENT PROCESSING ASSETS AND OBLIGATIONS
 9 Months Ended
Sep. 30, 2018
Offsetting [Abstract]  
SETTLEMENT PROCESSING ASSETS AND OBLIGATIONS
SETTLEMENT PROCESSING ASSETS AND OBLIGATIONS

As of September 30, 2018 and December 31, 2017, settlement processing assets and obligations consisted of the following:
 
September 30, 2018
 
December 31, 2017
 
 
 
 
 
(in thousands)
 
 
 
 
Settlement processing assets:
 
 
 
Interchange reimbursement
$
262,487

 
$
304,964

Receivable from members
116,843

 
104,339

Receivable from networks
2,521,106

 
2,055,390

Exception items
10,558

 
7,867

Merchant reserves
(16,768
)
 
(13,268
)
 
$
2,894,226

 
$
2,459,292

 
 
 
 
Settlement processing obligations:
 
 
 
Interchange reimbursement
$
93,736

 
$
72,053

Liability to members
(23,693
)
 
(20,369
)
Liability to merchants
(2,352,216
)
 
(1,961,107
)
Exception items
6,307

 
6,863

Merchant reserves
(143,020
)
 
(133,907
)
Reserve for operating losses and sales allowances
(4,183
)
 
(4,042
)
 
$
(2,423,069
)
 
$
(2,040,509
)