Matt Feierstein: I think that’s the best metric. You mentioned elasticity. That’s probably our best metric in the U.S. as is actually our expected and anticipated churn with all of them are running lower than where we expected. So I think we met that mark from an elasticity standpoint that would mean there’s slightly more there.
Eric Remer: Opportunity as you look at the ’24 to maintain and/or increase pricing actions into ’24.
Unidentified Analyst: Okay. That was really helpful color there. And then I know we only get logo growth annually. But I’m just curious if there’s been any changes in terms of the vertical or micro verticals driving the growth that you’ve seen so far this year through July. Thanks.
Eric Remer: It’s been pretty consistent across the board. The one area that we talked about and we’ve talked about before, our fitness kind of category has been a laggard in the industry. It’s starting to — some of the client of fitnesses came out and said they’re starting to see some growth in stores. But in general, the market has just been slow to recover from COVID. That’s the one area within the ecosystem that we serve that we’ve kind of a lack of growth, but the rest of them has been pretty consistent, pretty across the board.
Unidentified Analyst: Thank you very much.
Operator: The next question comes from Bhavin Shah with Deutsche Bank. Your line is open.
Bhavin Shah: Great. Thanks for taking my question. I just wanted to follow up on an earlier comment you made about kind of mandating payments across your solutions. What’s been the customer reception to that? And how long will that take to play out to go throughout that customer base or those two respective customer bases?
Eric Remer: Yes. So the mandate — I’ll let Matt on specific, mandate was really driven A, you kind of convert to our payments. We had about 35% in a specific vertical — specific solution utilizing it, went off of the back book and said, if you take our payments, that’s great, otherwise, you got a pretty significant price increase if you do not take it. And so we did plan — some people might be up attrition against it. Attrition has been significantly lower than we had expected. Response has been very positive. It takes some time. Matt gives more specific in terms of the time of rollout and then ultimately seeing the value of that.
Matt Feierstein: Yes. To Eric’s point, there’s really three outcomes from that, two that we like, the one that we really like, which is more people will sign up and take payments and start utilizing that. The second is they opt into paying an incremental amount for their software. And the third is obviously we don’t like this at all and they may choose to leave the solution. Starting from the back forward, again, churn when we model it against these mandates has been lower than we expected, incremental take rate again, some of these mandates have been in place for several quarters, one that we just started this quarter, we’re kind of right where we expected to be from incremental folks taking payments, which is good. And again, folks that say we don’t opt into this and are taking the price increase.
Again, we’ve just seen less-than-expected churn against that. So we feel good about the execution of the mandates that we’ve done to date, and it’s certainly a strategy that we’ll continue to use across the portfolio.
Eric Remer: And I think because of the way it rolls out, you get them and say, yes, you sign them up, they transition to payments, they start processing as you go in through a base of thousands of customers, you’ll start to see the benefit of that in 2024.
