The U.K.’s Competition Appeal Tribunal announced its judgment Tuesday (May 20) in a long-running class action lawsuit that was brought against Mastercard over its swipe fees.The judgment determines the distribution of the settlement of 200 million pounds that was announced in February, the Competition Appeal Tribunal said in a summary of the judgment.It approves the settlement sought by the class representative, Walter Merricks, and Mastercard, according to the summary.The funder of Merricks’ lawsuit, Innsw ...

Summary of WEX FY Conference Call (May 20, 2025) Company Overview - **Company**: WEX Inc. - **Industry**: Mobility and Corporate Payments Key Points Mobility Segment - **Tariff Impact**: The Over the Road (OTR) segment, which constitutes about one-third of the Mobility business, experienced strong volumes initially in Q1, but saw a softening towards the end of April due to tariff discussions and Easter-related disruptions [2][3] - **Domestic vs. Import Freight**: Approximately 90% of trucking in the U.S. involves domestically produced goods, with only 10% related to imports. This indicates a limited impact from import-related freight on overall volumes [4][5] - **Volume Increase**: A 50 basis point increase in volumes was estimated from Q4 to Q1 due to demand pull forward [4][5] - **Freight Pricing Correlation**: There is a loose correlation between freight prices and WEX's performance, particularly with spot rates reflecting real-time shipment needs [6][9] Credit Management - **Dynamic Credit Box**: WEX has invested in data analytics and machine learning to manage its credit box dynamically, allowing for adjustments based on customer spending patterns and delinquencies [10][11] - **Credit Losses**: Credit losses improved to 12 basis points in Q1, down from 15 basis points in the previous year, indicating effective credit management [12][13] - **Recession Preparedness**: The company has conducted scenario modeling for potential recession impacts and feels well-prepared to manage credit losses [17][18] Electric Vehicle (EV) Transition - **Market Readiness**: WEX has developed solutions for the EV transition, including on-route charging and home charging solutions, but adoption in commercial fleets is slow due to complexity and varied use cases [21][24] International Opportunities - **Global Expansion**: WEX sees potential for international growth, particularly in Europe and Australia, but prioritizes investments based on the highest return opportunities [26][28] Corporate Payments Segment - **Travel and Non-Travel Business**: The travel segment is undergoing a contract migration, which has temporarily affected revenue, but volumes remain strong. The non-travel segment is slower growing, but investments in embedded and direct business are yielding positive results [29][31] - **Volume Growth**: The direct business saw a 25% volume growth in both Q1 and Q4, reflecting successful investments [33] Competitive Landscape - **Infrastructure Advantage**: WEX's established infrastructure for servicing complex travel needs provides a competitive edge over new entrants who lack similar capabilities [40][41] - **Market Position**: WEX has captured market share due to its scale and ability to meet sophisticated client needs across multiple geographies [48] Financial Sensitivity to Interest Rates - **Revenue Impact**: A 100 basis point change in interest rates could impact revenue by approximately $40 million, primarily affecting the mobility and HSA segments [54][55] - **EPS Sensitivity**: Higher interest rates could negatively impact EPS due to corporate debt, despite benefiting revenue [56] Capital Allocation Strategy - **Leverage Management**: WEX is focused on reducing leverage to historical levels and is not currently pursuing M&A opportunities [63][64] Additional Insights - **SaaS Accounts Growth**: A 6% increase in SaaS accounts was noted, driven by a successful open enrollment season [49][50] - **HSA Market Trends**: The HSA market continues to grow, supported by regulatory advocacy and employer interest, despite a slowdown in account growth rates [51][52] This summary encapsulates the key insights and data points from the WEX FY Conference Call, highlighting the company's performance, strategic initiatives, and market dynamics.

Berkshire Hathaway owns dozens of stocks in its huge $288 billion portfolio. There's one tiny position that the Warren Buffett-led conglomerate owns that has generated a total return of 13,690% since its initial public offering in May 2006. Investors might want to learn what this business is.As of May 14, this financial stock is up 9% in 2025. At the same time, the S&P 500 index is little changed. Is it time to add this Buffett holding to your own portfolio and keep it for the next two decades? Business as ...

In a letter dated Tuesday (May 13) and addressed to the commission's antitrust chief, financial services commissioner and economy chief, the associations also called for price controls on interchange fees, transparency and non-discriminatory obligations for International Card Schemes (ICSs), and a tool for regulators to scrutinize ICSs' actions, Reuters reported Wednesday (May 14), citing a copy of the letter. "International Card Schemes (ICS) have been able to increase their fees without competitive challe ...

Financial Performance - Total Payment Volume (TPV) reached $8.1 billion, a 53% year-over-year increase and a 5% quarter-over-quarter increase[16] - Revenue was $217 million, up 18% year-over-year and 6% quarter-over-quarter[17] In constant currency, revenue increased 36% year-over-year[17,76] - Gross profit was $85 million, a 35% year-over-year increase and a 1% quarter-over-quarter increase[19] In constant currency, gross profit increased 59% year-over-year[17,76] - Adjusted EBITDA was $58 million, up 57% year-over-year and 2% quarter-over-quarter, with an Adjusted EBITDA/Gross Profit Ratio of 68%[18] - Net income was $47 million, up 163% year-over-year and 57% quarter-over-quarter[18] - Free cash flow (FCF) was $40 million, up 200% year-over-year and 22% quarter-over-quarter, with FCF to net income ratio at 85%[20] TPV Breakdown - Cross-border TPV reached $4 billion, up 76% year-over-year and 14% quarter-over-quarter[32,36] Cross-border TPV accounted for 53% of total TPV[31,63] - Local-to-local TPV increased 33% year-over-year but decreased 3% quarter-over-quarter[32] Local-to-local TPV accounted for 47% of total TPV[31,63] - Pay-ins TPV increased 49% year-over-year and 2% quarter-over-quarter[33] Pay-ins accounted for 67% of total TPV[33,62] - Pay-outs TPV increased 61% year-over-year and 12% quarter-over-quarter[33] Pay-outs accounted for 33% of total TPV[33,62] Regional Performance - Latin America revenue increased 30% year-over-year and 7% quarter-over-quarter[37] - Africa & Asia revenue decreased 9% year-over-year but increased 4% quarter-over-quarter[37]

Paymentus (PAY) FY Conference May 13, 2025 04:30 PM ET Speaker0 Alright. Let's get started. My name is Tien Tsin Huang. I follow payments and IT services at JPMorgan, and this is the Paymentus fireside chat. We're happy to take questions at the end and also through the through the portal. But thank you to the Paymentus team for being here. Dushant Sharma, CEO Sanjay Kahara, CFO. Again, thank you both for for being here. I I always say like, Dushant, what you founded Paymentus of what, 02/2004, is that what ...

Financial Data and Key Metrics Changes - The company reported a 4% decline in revenue to $401 million, but organic revenue increased by 5% when excluding inorganic impacts from foreign exchange, interest, and divestitures [20][21] - Adjusted EBITDA was $95.2 million, with an adjusted EBITDA margin of 23.7%, slightly ahead of expectations [21][28] - Unlevered free cash flow for the quarter was $57 million, reflecting a 60% conversion of adjusted EBITDA [22] Business Line Data and Key Metrics Changes - Merchant Solutions volume increased by 11% to $34.3 billion, resulting in organic revenue growth of 6% [25] - Digital Wallet segment revenue was $187.6 million, an increase of 3% on an organic basis, with volume up 5% to $5.9 billion [26] - The enterprise sales organization signed over 100 enterprise-level contracts in Q1, with strong growth in gaming and e-commerce [7][14] Market Data and Key Metrics Changes - E-commerce growth was strong at 31% for the first quarter, with processing growth in iGaming exceeding 50% year-over-year [14] - The company anticipates that the Latin American market will contribute to mid to upper single-digit growth, with expectations for low double-digit growth as the year progresses [83] Company Strategy and Development Direction - The company is focusing on expanding its PaySafe wallet platform to unlock geographic expansion and target new consumer groups [9] - Partnerships are a key strategy, with recent collaborations including Fiserv and Tilde to enhance product offerings and market reach [18][19] - The company aims to achieve at least 10% of annual revenue contributions from products released in the last three years [50] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in accelerating growth in the second half of the year, driven by existing contracts and new product initiatives [8][30] - The company is mindful of macroeconomic dynamics but remains confident in delivering full-year guidance [28][29] - Management noted that attrition in the SMB segment has been slightly higher than expected, but improvements are anticipated as new initiatives are implemented [29] Other Important Information - The company repurchased 613,000 shares during the first quarter and an additional 693,000 shares in April, returning approximately $20 million to shareholders year-to-date [28] - Total debt at the end of the quarter was just under $2.4 billion, with net leverage increasing slightly to 4.9 times [27] Q&A Session Summary Question: How much of the sales pipeline is booked but not yet live? - Management indicated good visibility in the sales pipeline, with strong enterprise sales and a positive outlook for onboarding merchants [35][38] Question: Expectations for Q2 EBITDA margin? - Management expects Q2 EBITDA margin to be similar to Q1, with an increase in the second half of the year [39][40] Question: Update on e-commerce mix within the merchant segment? - E-commerce accounts for about a quarter of the merchant segment revenue, with iGaming being a significant contributor [44][45] Question: Strategy for the SMB side of the business? - The company is focusing on balancing direct sales and ISO channels, with recent investments aimed at increasing direct sales productivity [54][56] Question: Differentiation of Clover in the market? - Management believes Clover has a strong growth profile and is investing in additional services to enhance its competitive position [62][63] Question: Availability of Clover's software packages to merchants? - The company is expanding its product offerings through Clover, including digital wallets and other services [70] Question: Commission structures for direct versus indirect sales? - The commission structures differ significantly, with direct sales having shorter-term residuals compared to the ISO channel [72][76] Question: Conviction for growth from new products? - Management highlighted strong sales performance and new product launches, including the Pago Effectivo wallet, as key growth drivers [80][81]

First Quarter 2025 Earnings Supplement May 13, 2025 1 Important Disclosure 2 2 • This presentation is intended to provide general information only and is not, and should not be considered, as an offer to purchase or sell the Company's securities, or a proposal to receive such offers. In addition, this presentation is not an offer to the public of the Company's securities. By attending or viewing this presentation, each attendee ("Attendee") agrees that he or she (i) has read this disclaimer, (ii) is bound b ...

The partnership supports seamless, secure payments through Quadient’s AR and AP solutions for businesses across North America, the UK and Europe Quadient (Euronext Paris: QDT), a global automation platform powering secure and sustainable business connections, and Nuvei, a leading global payments company, today announced a strategic technology partnership to enhance cloud payment capabilities for businesses globally. Through this partnership, Nuvei’s advanced payment processing technology is now integrated i ...

Financial Performance - Q1 2025 - Revenue decreased by 4% year-over-year, from $80.7 million in Q1 2024 to $77.3 million in Q1 2025[14, 67] - Gross profit decreased by 5% year-over-year, from $61.5 million in Q1 2024 to $58.7 million in Q1 2025[14, 67] - Adjusted EBITDA decreased by 7% year-over-year, from $35.5 million in Q1 2024 to $33.2 million in Q1 2025[14, 67] - Free Cash Flow decreased significantly from $13.7 million in Q1 2024 to -$8.0 million in Q1 2025, representing a 159% decrease[14, 67] - Free Cash Flow conversion decreased from 38% in Q1 2024 to -24% in Q1 2025[14] Segment Performance - Q1 2025 - Consumer Payments revenue decreased by 6% year-over-year, from $76.1 million in Q1 2024 to $71.9 million in Q1 2025[20] - Consumer Payments gross profit decreased by 5% year-over-year, from $59.6 million in Q1 2024 to $56.7 million in Q1 2025[20] - Business Payments revenue increased by 17% year-over-year excluding political media, but increased 14% as reported, from $9.7 million in Q1 2024 to $11.0 million in Q1 2025[23, 78] - Business Payments gross profit increased by 12% year-over-year excluding political media, but increased 7% as reported, from $7.0 million in Q1 2024 to $7.6 million in Q1 2025[23, 78] Liquidity and Leverage - Total liquidity was $415 million as of Q1 2025, including cash and undrawn revolver capacity[26, 50] - Net debt was $343 million as of March 31, 2025[28] - Net leverage was 2.5x LTM Adjusted EBITDA as of March 31, 2025[28] FY 2025 Outlook - The company expects sequential quarterly acceleration in normalized growth year-over-year[34] - The company expects Q4 normalized growth of high single digit to low double digit[34] - The company expects Free Cash Flow conversion to exceed 50% in Q2 and accelerate above 60% by the end of 2025[34]