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Financial report summary
?Competition
ACI Worldwide • Star • Lesaka • Bread Financial • WEX • Kashin • LogicMark • Synchrony Financial • PayPal • Clic TechnologyRisks
- We are subject to complex and evolving global regulations that could harm our business and financial results.
- Increased scrutiny and regulation of the global payments industry, including with respect to interchange reimbursement fees, merchant discount rates, operating rules, risk management protocols and other related practices, could harm our business.
- Government-imposed obligations and/or restrictions on international payments systems may prevent us from competing against providers in certain countries, including significant markets such as China and India.
- We may be subject to tax examinations or disputes, or changes in tax laws.
- We may be adversely affected by the outcome of litigation or investigations.
- We face intense competition in our industry.
- Our revenues and profits are dependent on our client and merchant base, which may be costly to win, retain and develop.
- Merchants’ and processors’ continued push to lower acceptance costs and challenge industry practices could harm our business.
- We depend on relationships with financial institutions, acquirers, processors, merchants, payment facilitators, ecommerce platforms, fintechs and other third parties.
- Our business could be harmed if we are not able to maintain and enhance our brand, if events occur that have the potential to damage our brand or reputation, or if we experience brand disintermediation.
- Our aspirations to address corporate responsibility and sustainability (CRS) matters and considerations could adversely affect our business and financial results or negatively impact our reputation.
- Our indemnification obligation to fund settlement losses of our clients exposes us to significant risk of loss and may reduce our liquidity.
- Failure to anticipate, adapt to, or keep pace with, new technologies in the payments industry could harm our business and impact future growth.
- We may not achieve the anticipated benefits of our acquisitions, joint ventures or strategic investments, and may face risks and uncertainties as a result.
- We may be unable to attract, hire and retain a highly qualified and diverse workforce, including key management.
- The conversions of our class B and class C common stock or series A, B and C preferred stock into shares of class A common stock would result in voting dilution to, and could adversely impact the market price of, our existing class A common stock.
- Holders of our class B and C common stock and series A, B and C preferred stock may have different interests than our class A common stockholders concerning certain significant transactions.
- Delaware law, provisions in our certificate of incorporation and bylaws, and our capital structure could make a merger, takeover attempt or change in control difficult.
Management Discussion
- (1)Figures in the table may not recalculate exactly due to rounding. Percentage changes are calculated based on unrounded numbers.
- Net revenues increased over the three-month prior-year comparable period primarily due to the growth in nominal cross-border volume, processed transactions and nominal payments volume, partially offset by higher client incentives.
- Our net revenues are impacted by the overall strengthening or weakening of the U.S. dollar as payments volume and related revenues denominated in local currencies are converted to U.S. dollars. During the three months ended December 31, 2023, exchange rate movements did not have a material impact on net revenues growth.