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SETTLEMENT PROCESSING ASSETS AND OBLIGATIONS
 6 Months Ended
Jun. 30, 2019
Offsetting [Abstract]  
SETTLEMENT PROCESSING ASSETS AND OBLIGATIONS SETTLEMENT PROCESSING ASSETS AND OBLIGATIONS

As of June 30, 2019 and December 31, 2018, settlement processing assets and obligations consisted of the following:
 
June 30, 2019
 
December 31, 2018
 
 
 
 
 
(in thousands)
 
 
 
 
Settlement processing assets:
 
 
 
Interchange reimbursement
$
260,103

 
$
154,978

Receivable from members
176,687

 
228,107

Receivable from networks
2,412,382

 
1,221,060

Exception items
11,042

 
7,636

Merchant reserves
(15,947
)
 
(11,559
)
 
$
2,844,267

 
$
1,600,222

 
 
 
 
Settlement processing obligations:
 
 
 
Interchange reimbursement
$
89,895

 
$
193,235

Liability to members
(23,815
)
 
(182,450
)
Liability to merchants
(2,400,467
)
 
(1,144,249
)
Exception items
11,505

 
7,146

Merchant reserves
(151,450
)
 
(145,826
)
Reserve for operating losses and sales allowances
(4,041
)
 
(4,212
)
 
$
(2,478,373
)
 
$
(1,276,356
)