And then lastly in Asia Pacific, as Jeff highlighted in his prepared remarks, we had our best first quarter in Asia since 2018. We saw mid-to-high teens growth as we finally got re-openings across really all of the Asia Pacific markets in which we operate. We’re starting to see more intra-Asia cross-border activity, which is good for our business yet to see meaningful, sort of inter-Asia cross-border, but obviously that’s the next leg of the stool as Asia fully reopens and we get back to full normality in that market. So, I think as we step back and look at the merchant business, we accelerated a point sequentially versus the fourth quarter from a top line growth matter before factoring in. Obviously the addition of EVO for roughly one week of the quarter.
So feel very good about the trends kind of coming off of the quarter and remain very poised, I think for the balance of the year to achieve the guidance – the updated guidance that we provided this morning.
Ashwin Shirvaikar: That’s very useful. Thank you very much. And then sticking with merchant, the adjusted rev growth was greater than volume growth, I think, probably for the first time in a couple of years. What’s driving that? Is that value-add services? Is there, sort of different business model with, like, more subscription revenue or something like that or do you expect that to sustain?
Cameron Bready: Yes, it’s really mix, Ashwin more than anything else. Our vertical market businesses, which are predominantly software driven had a strong quarter, which obviously contributes a little bit more to the top line then it does to the volume related metrics. But you’re talking a few tens of basis points difference between the two, one rounded up, one rounded down. That’s kind of the difference. So, I wouldn’t put too much weight to the 11 versus the 10. It’s going to fluctuate sometimes it will be on top of each other, sometimes volume may be a little bit better, sometimes revenue growth may be a little bit better. I think what we step back and look at fundamentally is, are those two moving in correlation to each other and is that gap relatively minimal, 10 to 11 is very tight versus others in the marketplace.
So, I think fundamentally looking at the underlying volume growth of the business, we’re very happy with how things are trending and obviously the revenue demonstrates that as well.
Ashwin Shirvaikar: Understood. Congratulations again. Thank you.
Cameron Bready: Thanks, Ashwin.
Operator: Your next question is coming from Darrin Peller from Wolfe Research. Your line is now live.
Darrin Peller: Hey, guys. Thanks. First of all, Jeff and Cameron, congrats to both of you on the transition. Jeff, if it’s possible to give us a sense of where you – you know the timing and why now and maybe a little more in your thought process of what’s to come for you, as well as what you’re most excited about when you look at GPN going forward? Just curious if you can give a little more color on the change.
Jeff Sloan: Darren, it’s Jeff. Thanks for saying that. Let me just start by saying Cameron and I have worked close together for nine years and probably in his judgment, it’s nine years too late. Probably where I start, but look, I would say, as we said in the press release and our prepared remarks that look, we just posted the best first quarter since 2019. We talked about in February hoping that we were in an environment of normalcy. I think we’re there today. We’ve got our first real beat-and-raise in 18 months. And then really importantly, Darrin, we’ve said publicly for 12 months that we’re focused on closing EVO, closing Netspend, closing the sale on Gaming Solutions, but not surprising you, those probably started like 18 months ago, right.
