This story was originally published on Payments Dive. To receive daily news and insights, subscribe to our free daily Payments Dive newsletter. Dive Brief: Elavon, a subsidiary of U.S. Bank, has appointed Wally Mlynarski to lead its payments processor unit, recruiting him from Bank of America, where he had led a merchant services and receivables unit, according to a Wednesday press release. Mlynarski started in his new Elavon role on Monday, the company’s spokesperson John Friess said by email. Mlynarsk ...

Summary of Fiserv Conference Call Company Overview - **Company**: Fiserv - **Industry**: Payments Processing and Financial Technology Key Points and Arguments Business Stabilization and Management - Fiserv has experienced stabilization in its business since the leadership change and reset in October 2022, focusing on daily operations and executing the "One Fiserv" plan [2][7][8] - The management team has been bolstered with new talent, enhancing the company's capabilities and execution [14][16] One Fiserv Plan - The "One Fiserv" plan consists of five pillars aimed at driving sustainable, client-driven revenue growth [14][21] - Key areas of focus include: 1. Client-first mindset emphasizing service quality and product resilience 2. Clover growth and modernization of technology platforms 3. Project Elevate for operational efficiency 4. Optimal capital management to maintain investment-grade ratings [21][27][28] Financial Performance and Growth Expectations - Fiserv has reset long-term growth expectations, indicating a sustainable growth rate of double digits over the next four years, despite cyclical factors affecting performance [8][10] - The company anticipates low single-digit growth (1%-3%) in the first half of the year, with expectations for acceleration in the second half [59][61] Core Banking Business and Customer Retention - The core banking business has faced higher attrition rates, attributed to past service issues and technology resilience [64][70] - Fiserv emphasizes a core modernization strategy rather than forced consolidation, respecting customer timelines for technology changes [71][72] AI and Technology Integration - Fiserv views AI as a significant opportunity to enhance operational processes and customer experiences, positioning itself as an orchestration layer for AI applications in banking and payments [101][106] - The company is focused on leveraging its data to improve service delivery and reduce fraud [109][115] Clover Platform and Market Position - Clover continues to gain market share in the restaurant and retail sectors, with plans for vertical and horizontal expansion [158][160] - The company aims to transition Clover from a point-of-sale system to a comprehensive operating system for small businesses [168][170] Value-Added Services (VAS) - VAS accounted for 27% of revenue in Q4, with opportunities for growth in areas like Clover Capital, which is currently under-penetrated compared to peers [222][224] - Fiserv is enhancing its VAS offerings to improve customer stickiness and satisfaction [226][234] Issuing Business and Competitive Landscape - The issuing business remains competitive, with significant investments in technology and partnerships to enhance service delivery [239][241] - Fiserv is focused on maintaining a strong pipeline of new wins and implementations in this segment [236][238] Stablecoin Initiatives - Fiserv is piloting stablecoin solutions in response to customer interest, preparing for regulatory developments that could impact the banking sector [245][248] - The company aims to provide wallet capabilities for customers, facilitating transactions in both fiat and stablecoin [247][259] Investor Day Expectations - Fiserv's Investor Day is scheduled for May 14, 2024, where the company will present its findings and future strategies, emphasizing the constant compounder investment case [261][265] Additional Important Insights - The company is committed to improving service quality and technology resilience, addressing past customer frustrations [72][80] - Fiserv's approach to customer migration is cautious, focusing on value propositions rather than forced transitions [210][216] - The competitive landscape remains stable, with no major shifts anticipated, allowing Fiserv to continue its growth trajectory [156][236]

Core Insights - The BBH Select Series – Mid Cap ETF decreased by 3.9% in Q4 2025, underperforming the Russell Midcap Index which returned 0.2% [1] - The year saw unprofitable and highly volatile companies outperforming, with healthcare and materials being the top sectors while communication services and real estate declined [1] - The firm anticipates a market shift back to financial fundamentals like profitability and cash flow [1] Company Focus: Shift4 Payments, Inc. - Shift4 Payments, Inc. (NYSE:FOUR) experienced a stock price of $46.88 on March 10, 2026, with a one-month return of -20.19% and a 52-week loss of 48.10% [2] - The company has a market capitalization of $4.789 billion [2] - Despite strong fundamental performance, Shift4 Payments was a significant detractor in Q4 2025, declining by 18.6% and holding a weight of 3.8% in the fund [3] - Shift4 specializes in integrated payment processing for the hospitality sector and reported strong quarterly results, beating both top and bottom line expectations [3] - The company announced a $1 billion share buyback authorization, although it slightly lowered its volume guidance due to modestly worse same-store sales and foreign exchange headwinds [3] - Concerns arose from Fiserv's earnings miss and guidance cut, impacting sentiment in the payments sector, but the outlook for Shift4 is considered sustainable [3]

This story was originally published on Payments Dive. To receive daily news and insights, subscribe to our free daily Payments Dive newsletter. Stripe’s tender offer on Tuesday to purchase the shares of current and past employees values the payment processing behemoth at $159 billion.  The company said in a press release that most of the funds for the offer are from venture capital firms Thrive Capital, Coatue, a16z and others. Stripe is also purchasing some of the shares. The sale allows Stripe employees ...

Financial Data and Key Metrics Changes - In Q4 2025, adjusted EPS was $2.39, reflecting double-digit year-over-year earnings growth despite external pressures [24][25] - For the full year, revenue was $4.2 billion, adjusted operating income was $550 million, and adjusted EBITDA was $743 million, with adjusted EPS of $9.61, indicating another year of double-digit growth [33][34] - Consolidated operating margins expanded by approximately 30 basis points compared to the previous year, with expectations for continued margin improvement into 2026 [33] Business Line Data and Key Metrics Changes - The EFT segment showed strong performance with revenue growing 8%, adjusted operating income increasing 12%, and adjusted EBITDA growing 13% [25] - The epay segment experienced a revenue decline of approximately 2%, with adjusted operating income down 7% and adjusted EBITDA down 8%, attributed to macroeconomic pressures [26] - The money transfer segment saw a revenue decline of 1% year-over-year, with adjusted operating income down 6% and adjusted EBITDA down 5%, primarily due to macroeconomic conditions and immigration-related dynamics [27][28] Market Data and Key Metrics Changes - The global digital channel for money transfer delivered 31% transaction growth and 33% revenue growth in Q4, with a significant increase in new customer acquisitions [21] - The gaming-related branded payments business within epay accounted for 37% of total branded payments margin, benefiting from the growth in the global video game market, which was approximately $290 billion in 2025 [17] - Remittances into Mexico declined approximately 2% in Q4 2025, reflecting broader market trends, but the company managed to achieve a modest increase in remittance volumes for the year [28] Company Strategy and Development Direction - The company remains focused on executing growth initiatives across all segments, particularly in digital strategies and expanding its global network [5][10] - Recent acquisitions, including Kyodi and Credia Bank's merchant acquiring business, are expected to drive multiyear growth [9][12] - The company emphasizes a shift from traditional ATM ownership to a focus on payments infrastructure and merchant acquiring, enhancing its capabilities in modern payment processing [15] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging operating environment due to immigration policy uncertainty and economic stress among lower-income consumers, but expressed confidence in the company's competitive position and growth initiatives [5][6] - The company anticipates adjusted EPS growth of 10%-15% in 2026, supported by a strong pipeline of growth initiatives and an optimized operating model [32] - Management highlighted the importance of maintaining a diversified business model to withstand macroeconomic pressures, ensuring resilience and continued growth [7][36] Other Important Information - The company returned approximately $388 million in capital to shareholders through share repurchases in 2025, reflecting a disciplined capital allocation strategy [8][34] - The company is actively pursuing digital growth opportunities across all segments, with a focus on enhancing customer experience and operational efficiency [31] Q&A Session Summary Question: Are there signs of improvement in macro issues affecting the business? - Management noted some positive trends in January but cautioned against over-optimism due to ongoing challenges in the operating environment [40][41] Question: What triggered the review of the money transfer business? - The review was initiated to ensure organizational alignment with the growth of the money transfer segment, which has seen significant success since the acquisition of Ria [45][47] Question: Can you provide details on the growth of the merchant processing business? - The merchant acquiring business has shown strong growth, with epay growing over 20% and EFT's merchant acquiring business growing over 30% [54] Question: What are the expectations for CoreCard in 2026? - Management expressed optimism about CoreCard's contribution, indicating that it is expected to perform well and potentially exceed previous revenue figures [75][78] Question: How does the company view the impact of competitors' partnerships? - Management indicated that the impact from competitors, such as Kroger's exclusive relationship, would be marginal and not significantly affect their business [82]

Fourth Quarter and Full Year 2025 Financial Results Michael J. Brown | Chairman, CEO and President Rick Weller | EVP & CFO Adam Godderz | General Counsel Euronet | www.euronet.com 1 020626-1 Forward Looking Statements Statements contained in this news release that concern Euronet's or its management's intentions, expectations, or predictions of future performance, are forward-looking statements. Euronet's actual results may vary materially from those anticipated in such forward-looking statements as a resul ...

Core Insights - Euronet reported a challenging financial performance in Q4 2025, with a focus on long-term value creation despite economic pressures, particularly in Money Transfer and epay segments [6][9] - The company achieved a full-year adjusted earnings per share growth of 12%, consistent with previous expectations, following a 15% increase in 2024 [7] Financial Performance - Q4 2025 revenues reached $1,108.7 million, a 6% increase from $1,047.3 million in Q4 2024, with a 1% increase on a constant currency basis [9] - Operating income for Q4 2025 was $101.0 million, an 18% decrease from $122.7 million in Q4 2024, reflecting a 23% decrease on a constant currency basis [9] - Full-year 2025 revenues totaled $4,244.2 million, a 6% increase from $3,989.8 million in 2024, with a 4% increase on a constant currency basis [9] - Full-year operating income was $529.8 million, a 5% increase from $503.2 million in 2024, with a 1% increase on a constant currency basis [9] Segment Performance - The Money Transfer segment experienced a 2% decline in U.S.-originated money transfers, while international-originated transfers grew by 1%, including a 32% increase in direct-to-consumer digital transactions [19] - The epay segment reported revenues of $303.3 million in Q4 2025, a 14% increase from $265.6 million in Q4 2024, with transactions increasing by 34% [15] - Euronet Merchant Services added approximately 3,700 new acquiring merchants in Q4 2025, demonstrating continued expansion [14] Strategic Initiatives - The company signed an agreement to acquire CrediaBank's merchant acquiring business, which will add approximately 20,000 merchants [8] - Euronet expanded its epay digital content distribution with Revolut to 20 countries, enhancing its global partnership [18] - A $20.4 million charge was recorded for a Money Transfer optimization initiative aimed at improving margins and driving growth in digital products [11][24] Balance Sheet and Financial Position - As of December 31, 2025, Euronet had cash and cash equivalents of $1,040.3 million, with total indebtedness of $2,021.8 million [26] - The company reported availability under its revolving credit facilities of approximately $1,780.5 million [26] Future Outlook - Euronet anticipates delivering another year of double-digit adjusted earnings growth in 2026, projected in the range of 10%-15%, excluding impacts from foreign exchange rates and other unforeseen factors [12]

Core Insights - Adyen reported a net revenue of 1.27 billion euros ($1.51 billion) for the second half of 2025, reflecting a 21% increase on a constant currency basis, indicating strong growth compared to European competitors and U.S. firms like PayPal and Stripe [1] - The full-year revenue for Adyen also rose by 21% to 2.36 billion euros, with the core profit margin expanding to 53% from 50% the previous year, driven by increased wallet share among existing customers and effective cost management [1] - The company forecasts revenue growth of 20-22% for 2026 and expects the EBITDA margin to exceed 55% by 2028 [1] Financial Performance - Adyen's revenue for the second half of 2025 was 1.27 billion euros, marking a 21% increase [1] - The full-year revenue reached 2.36 billion euros, also up 21% [1] - The core profit margin improved to 53%, up from 50% year-over-year [1] Market Position - Adyen has solidified its position in the market, outpacing struggling European rivals and competing effectively against U.S. giants [1] - The company processed 173 billion euros in transactions through point-of-sale terminals in the second half of the year, a 26% increase from the previous year [1] - Partnerships with key clients such as Starbucks and Uber have contributed to Adyen's growth in unified commerce [1]

PayPal Holdings ( PYPL ) has had better days, to say the least. The transactions and payments processing company is facing competitive pressures across its operating segments, and its just-released results put a stamp to those pressures. Adding to the woes is a leadershipAnalyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own op ...

Market Overview - Stocks opened higher but experienced a significant plunge, ultimately closing down with the S&P 500 down about 0.9% and the Nasdaq down about 1.4% [6][7] - The Dow Jones Industrial Average also closed down about 0.4% while the Russell 2000 managed to close positive, up 0.3% [7] Sector Performance - The information technology sector was the biggest underperformer, down more than 2%, despite strong performance from companies like Palantir [8] - The energy sector saw a rise of more than 3% due to an increase in crude prices [9] Company Highlights - Palantir was a notable gainer, finishing the day up about 6.8% after a revenue forecast for fiscal 2026 that exceeded Wall Street expectations, projecting a 61% annual revenue increase [10] - Amgen reported a fourth-quarter adjusted EPS of $5.29, beating estimates of $4.71, indicating strong performance from its top drugs [12] - Walmart's stock closed up about 3%, marking a 14% increase year-to-date, attributed to its digital transformation and technology integration [14][15] Homebuilders - Homebuilders' stocks rose nearly 6% in the session, with the homebuilding index up about 2.5%, as they seek to develop affordable housing solutions [16] Notable Decliners - PayPal shares fell more than 20% following the announcement of a new CEO after a failed turnaround plan [17] - Novo Nordisk shares dropped over 14% after the company projected a sales decline of 5% to 13%, exceeding analyst expectations of a 1.4% decline [19] Earnings Reports - Silicon Labs stock surged about 39% in aftermarket trading due to reports of advanced talks with Texas Instruments [21] - Chubb's fourth-quarter net premiums came in at $13.13 billion, slightly above street estimates, while its combined ratio was 81.2%, below the expected 84% [27][28]