Financial Data and Key Metrics Changes - Throughout financial year 2025, total transaction values (TTVs) remained soft, continuing the trend from financial year 2024, but top line revenue grew due to a focus on customer verticals with strong payment economics [13][17] - Average ticket size per merchant increased by 15% compared to the same time last year, and average TTV per newly onboarded merchants rose approximately 20% compared to the existing fleet average [17][18] - Customer attrition ratios for 2026 are consistent with the last two years, indicating stability in customer retention [18] Business Line Data and Key Metrics Changes - The company maintained transacting terminal margins across its fleet, with better revenue profiles from newly onboarded Australian customers [13][14] - New Zealand acquiring revenues are starting to come online, with average revenue per terminal above expected fleet averages due to a focus on higher value merchants [18][28] - The company is targeting over 5,000 merchants on its New Zealand acquiring solution by the end of financial year 2026 [28] Market Data and Key Metrics Changes - In Australia, the company continues to grow market share despite a competitive environment, focusing on verticals with strong unit economics [14][15] - The Reserve Bank of Australia's preliminary decision to remove the prohibition on surcharging could impact Australian transactional revenues by up to 10% [24] - The New Zealand Commerce Commission's decision to reduce interchange caps may improve gross margins for the company [25][26] Company Strategy and Development Direction - The company is executing a three-stage strategic plan, with good progress made in all stages throughout financial year 2025 [14][29] - The focus is on embedding solutions and brand within customers' businesses to realize value for shareholders [14] - The company is developing a comprehensive in-store business and payment solution, including point of sale and cash flow management tools [29][30] Management's Comments on Operating Environment and Future Outlook - Management highlighted resilience in business unit economics despite challenging economic conditions faced by customers [13] - The company is well-prepared and structured to maximize efficiency and deliver strong operating leverage over the coming years [18][32] - Future growth is expected to be accelerated with the growth in New Zealand revenues from the conversion of a captured base of over 24,000 merchants [32] Other Important Information - The company is progressing well with the completion of a scheme of arrangement following an acquisition offer by Shift4 Holdings Limited [7][8] - A major marketing campaign was launched in Australia coinciding with the introduction of a next-generation Android payment terminal [15][16] Q&A Session Summary Question: Are there any questions from the online attendees? - No questions were raised from online attendees [34] Question: Are there any questions regarding the resolutions? - No questions were raised regarding the resolutions [36][39][40]

2025 ANNUAL GENERAL MEETING 28 AUGUST 2025 S M A R T P A Y H O L D I N G S L I M I T E D Important Notice This presentation has been prepared by Smartpay Holdings Limited (NZX: SPY/ASX: SMP) (the Company or Smartpay) for the purpose of briefings in relation to its financial statements. This presentation may contain certain statements and projections provided by or on behalf of Smartpay Holdings Limited Group (Smartpay) with respect to anticipated future undertakings. Any forward-looking statements reflect v ...

Core Insights - Mastercard has strengthened its partnership with Circle to introduce USDC and EURC settlements for acquirers in the EEMEA region, with Arab Financial Services and Eazy Financial Services being the first to benefit from this initiative [1][10] - The expanded partnership allows acquiring institutions to settle transactions in USDC or EURC, facilitating faster and more cost-efficient digital trade across emerging markets [2][4] - This initiative aligns with Mastercard's strategy to promote stablecoin adoption, enhance payment capabilities, and expand its presence in the crypto ecosystem [3][4] Company Developments - Mastercard supports various regulated stablecoins, including USDC, USDG, FIUSD, and PYUSD, while also advancing cross-border remittances and B2B payments through its platforms [4] - The collaboration with Circle is expected to increase the usage of Mastercard-branded cards and boost net revenues derived from its payment network, which saw a 17% year-over-year increase in total net revenues in Q2 2025 [5] Competitive Landscape - Competitors such as PayPal and Visa are also expanding their presence in the crypto space, with PayPal allowing users to buy and sell cryptocurrencies and Visa supporting crypto-linked card programs [6][7][8] - PayPal's net revenues rose 5% year-over-year in Q2 2025, while Visa's net revenues advanced 14% year-over-year in Q3 fiscal 2025 [7][8] Financial Performance - Mastercard's shares have increased by 25.4% over the past year, outperforming the industry's growth of 20.8% [9] - The Zacks Consensus Estimate for Mastercard's 2025 earnings indicates an 11.7% rise from the previous year, with a projected revenue growth of 15.1% year-over-year [13] Valuation Metrics - Mastercard trades at a forward price-to-earnings ratio of 32.75, which is above the industry average of 22.24 [12]

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Financial Data and Key Metrics Changes - Revenue for FY 2025 increased by 9% to $220.9 million, with customer revenue (excluding interest income) up 3% to $157 million [7][8] - Underlying EBITDA rose by 13% to $58.6 million, aligning with the upper end of guidance [19][21] - Statutory loss after tax for continuing operations was $53 million, impacted by nonrecurring items including a class action settlement [21][8] - Cash balance improved by 46% year-on-year to $59.3 million [8][40] Business Line Data and Key Metrics Changes - European segment revenue increased by 18% to $128.6 million, driven by a 6% uplift in customer revenue and a 40% increase in interest revenue [22][23] - Asia Pacific segment saw customer revenue grow by 2%, with active benefit accounts in the Human Capital Management vertical increasing by 6% [25][27] - North American segment revenue decreased by 3%, attributed to lower breakage and soft incentive product performance, despite a 10% growth in GDV [30][31] Market Data and Key Metrics Changes - GDV in Europe rose by 7% to $6.1 billion, reflecting a return to growth post-restrictions [22] - North American GDV grew by 10%, primarily due to increased volume for Vans products [31] - Customer store balances increased from $2.1 billion to $2.35 billion, with most growth coming from Europe [36] Company Strategy and Development Direction - The company is focused on the AML 2.0 transformation strategy, aiming for sustainable double-digit growth over the long term [9][14] - Project Arlo is a key initiative to create a single global platform, enhancing operational efficiency and customer responsiveness [45][46] - The company plans to grow its pipeline to over $90 million by December 2025, with a focus on new product solutions and improved customer engagement [43][47] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the transformation agenda and the ability to drive growth despite challenges [15][41] - The outlook for FY 2026 anticipates underlying EBITDA in the range of $58 million to $63 million, factoring in new business growth and historical client terminations [42] - Management highlighted the importance of Project Gallo for future efficiency and growth aspirations [45] Other Important Information - The company has settled the Shine class action provisionally, which is expected to positively impact future financials [6] - A yield lock program has been structured with Citigroup to provide income certainty through a forecast down cycle [5] Q&A Session Summary Question: Thoughts on demand from different regions heading into FY 2026 - Management noted seasonality in Australia and consistent growth in government programs in Europe, with new client additions contributing to GDV [49][50] Question: Factors affecting guidance range for FY 2026 - Key factors include winning clients from the pipeline and the speed of onboarding, with a focus on operational efficiencies and reinvestment in sales [53][54] Question: Market growth rates in main verticals - Management indicated that the markets are running at CAGRs of 10% to 12%, with expectations to reach that level of growth by 2028 [59][60] Question: Clarification on top line growth and conversion dynamics - Management stated that conversion dynamics will be clearer by the end of the year, with faster-than-expected conversion rates observed [89][90] Question: Exclusion of Project Arlo costs from underlying EBITDA - Management clarified that Project Arlo is a significant one-time investment, hence its exclusion from underlying EBITDA [93][94]

Financial Data and Key Metrics Changes - Revenue for FY 2025 increased by 9% to $220.9 million, with customer revenue (excluding slight interest income) up 3% to $157 million [7][16] - Underlying EBITDA rose by 13% to $58.6 million, at the upper end of the guidance range of $54 million to $60 million [16][19] - Statutory loss after tax for continuing operations was $53 million, impacted by nonrecurring items including a class action settlement [7][19] - Cash balance improved by 46% year-on-year to $59.3 million, reflecting strong operating cash flows [7][19] Business Line Data and Key Metrics Changes - The European segment, the largest, saw total revenue increase by 18% to $128.6 million, driven by a 6% uplift in customer revenue and a 40% increase in interest revenue [20][21] - Asia Pacific segment achieved a modest customer revenue growth of 2%, with existing customer revenue growth at 5% [23][24] - North American segment experienced a 3% decline in total revenue, attributed to lower breakage and soft incentive product performance [26][27] Market Data and Key Metrics Changes - Gross Debit Volume (GDV) in Europe increased by 7% to $6.1 billion, reflecting a return to growth post-restrictions [20][21] - GDV in the Asia Pacific segment decreased by 7%, influenced by a change in customer and product mix [24] - North American GDV grew by 10%, primarily due to increased volume for Vans products [28] Company Strategy and Development Direction - The company is focused on the AML 2.0 transformation strategy, aiming for sustainable double-digit growth over the long term [3][8] - Key initiatives include rebuilding the leadership team, enhancing customer relationships, and expanding the commercial team [4][9] - Project Arlo aims to deliver a single global platform to streamline operations and improve service delivery [43][44] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the transformation agenda and the ability to drive growth despite challenges [14][39] - The outlook for FY 2026 anticipates underlying EBITDA in the range of $58 million to $63 million, factoring in new business and historical client terminations [40][41] - The company expects to grow its pipeline to over $90 million by December 2025, with a focus on improving conversion dynamics [41][45] Other Important Information - The company has settled the Shine class action provisionally, with court presentation expected in October [6] - A yield lock program has been structured with Citigroup to provide income certainty through a forecast down cycle, covering approximately 45% of floating interest income [5][19] Q&A Session Summary Question: Thoughts on demand from different regions heading into FY 2026 - Management noted seasonality impacts in Australia and consistent growth in government programs in Europe, with new client additions contributing to GDV [47][48] Question: Factors affecting guidance range for underlying EBITDA - Key factors include winning clients from the pipeline and the speed of onboarding, alongside flat overhead costs [50][52] Question: Market growth rates in main verticals - The markets are expected to grow at CAGRs of 10% to 12%, with the company aiming to match this growth over the next few years [56][57] Question: Clarification on top line growth and revenue translation - Management indicated that the growth trajectory is based on financial years, with a better sense of conversion dynamics expected by the end of the year [81][83] Question: Exclusion of Project Arlo costs from underlying EBITDA - Project Arlo costs are excluded due to being a significant one-time investment aimed at transforming existing platforms [86][87]

FY25 Results Presentation 27 August 2025 Anthony Hynes. Executive Chair For personal use only James Georgeson. Group CFO Disclaimer & Important Notice This investor presentation has been prepared by EML Payments Limited ABN 93 104 757 904 (EML) and is general background information about EML's activities current as at the date of this presentation. This information is given in summary form and does not purport to be complete. Information in this presentation should not be considered as advice or a recommend ...

Key Takeaways Visa Direct is now integrated into Authvia's TXT2PAY platform for real-time debit card payouts.This move allows businesses to send instant text-based payments, eliminating checks and apps.Increased usage of Visa Direct is expected to boost cross-border volumes.Visa Inc.’s (V) real-time money movement platform, Visa Direct, has been recently integrated into its TXT2PAY platform of Authvia. Authvia remains a pioneer in conversational commerce and text-based payment solutions. Combining Authvia’s ...

Core Insights - The payments industry is highly sensitive to consumer spending shifts, raising concerns about which companies can maintain earnings momentum amid cooling demand [1][2] Economic Context - U.S. consumer spending growth was 1.4% in Q2, an improvement from 0.5% in Q1 but significantly lower than 2.8% in 2024, marking the fifth-slowest rate since Q3 2021 [2] - Factors such as tariffs, inflation, and softer job growth are negatively impacting consumer sentiment, leading to more cautious spending behavior [2] Company Comparisons - Visa Inc. and American Express Company are highlighted as key players in the payments sector, with differing business models and customer bases that may affect their performance during a slowdown [3] - Visa's diversified customer base and lower credit risk position it favorably compared to AmEx, which relies heavily on U.S. premium cardholders and lending income [4][5] Visa's Strengths - Visa's payments volume increased by 8% year over year, with cross-border activity up 12%, indicating resilience against domestic spending weaknesses [4][6] - Visa's operational model reduces credit risk exposure, with a long-term debt-to-capital ratio of 33.6%, significantly lower than AmEx's 64.3% [5] - Investments in e-commerce and digital payment technologies enhance Visa's adaptability and relevance in the payments ecosystem [7] American Express's Position - AmEx's premium cardholder base leads to higher average spending, with a 9% year-over-year revenue increase in the latest quarter [8][9] - However, AmEx's reliance on transaction fees and lending income exposes it to higher credit risk, with rising provisions for credit losses noted [10] - AmEx's U.S.-centric model makes it more vulnerable to domestic spending downturns compared to Visa's global reach [11] Financial Performance and Valuation - Visa's fiscal 2025 earnings estimates show 11 upward revisions, with expected sales and EPS growth of 10.9% and 13.7% respectively [13] - In contrast, AmEx's estimates reflect one upward and one downward revision, with projected sales and EPS growth of 8.3% and 14.3% [14] - Visa trades at a forward earnings multiple of 27.46X, while AmEx trades at 19X, reflecting Visa's stronger earnings visibility and lower credit risk exposure [15] Market Performance - Year-to-date, Visa shares have increased by 10.4%, outperforming the broader industry and S&P 500, while AmEx shares are up 6.4% [18] Conclusion - Both Visa and American Express are key players in the payments industry, but Visa's diversified model, lower credit risk, and strong market performance position it better to withstand potential consumer spending slowdowns [21][22]