Revenues derived from our products sold at retail distributors constituting greater than 10% of our total operating revenues were as follows:



	Three Months Ended June 30,		Six Months Ended June 30,
	2015	2014	2015	2014
Walmart	48%	54%	42%	58%

Note 15—Significant Customer Concentration (continued)

Excluding stock-based retailer incentive compensation of $0.6 million and $2.0 million for the three months ended June 30, 2015 and 2014, respectively, and $2.5 million and $4.4 million for the six months ended June 30, 2015 and 2014, respectively, revenues derived from our products sold at retail distributors constituting greater than 10% of our total operating revenues were as follows:



	Three Months Ended June 30,		Six Months Ended June 30,
	2015	2014	2015	2014
Walmart	48%	55%	43%	58%

The concentration of GPR cards activated (in units) and the concentration of sales of cash transfer products (in units) derived from our products sold at our four largest retail distributors, including Walmart, was as follows:



	Three Months Ended June 30,		Six Months Ended June 30,
	2015	2014	2015	2014
Concentration of GPR cards activated (in units)	59%	71%	60%	72%
Concentration of sales of cash transfer products (in units)	81%	80%	81%	81%

Settlement assets derived from our products sold at our four largest retail distributors comprised the following percentages of the settlement assets recorded on our consolidated balance sheets:



	June 30, 2015	December 31, 2014
Walmart	63%	22%
Three other largest retail distributors, as a group	13%	6%