Rapid economic growth and subsequent infrastructure development—expanding presence of IP and wireless communication networks in Eastern Europe, Latin America, and East Asia have led to significant increases in demand for Verifone's electronic payment products. Verifone has strategically gained exposure to these growing markets and its 2008 revenue breakdown is a good indication of this. In particular, during the fiscal year ended October 31, 2008, 65.2% of Verifone's net revenues were generated outside of the United States. Verifone expects the percentage of net revenues generated outside of the United States to continue to increase in the coming years.