Global Payments Inc. (NYSE:GPN) Q4 2023 Earnings Call Transcript

Cameron Bready: Yes, it’s a good question, and obviously not surprisingly, we don’t get into specific conversations around pricing for any particular customer. I would say a couple things. One is we were obviously delighted to renew two flagship customers, as I called out in my prepared remarks. Those are customers that have been with us for a very long period of time, we have very strong relationships with, and obviously getting those renewals done, I think was important. It’s also reflected in the guide for the business, so as you can see, obviously we’re able to manage those in the context of still growing the issuer businesses, kind of at our targeted rate of growth heading into 2024. I would say more broadly, as we continue to invest in modernization, we continue to invest in more enablement capability for our clients and building our more cloud-native solutions and more micro services that allow our clients to be able to consume capabilities more easily, I think that’s going to open up new channels and new avenues for growth for that business, which we think long term obviously helps to drive better growth prospects for the issuer solutions business, so we’ve made a substantial amount of progress on our modernization efforts.

We talked about what’s in plan for 2024 as we’re running a number of pilots across the business, different geographies, products and services, and bundles that we sell into the market that obviously position us to begin to start to commercializing those solutions in the near term, so we’re pleased with how that project is progressing and we’re pleased with how it positions that business, I think to obviously sustain current rates of growth; but obviously the goal and the objective is to be able to accelerate those rates of growth over time by opening up new markets and opening up new revenue channels for the issuer business.

Andrew Jeffrey: Thank you very much.

Cameron Bready: Thanks Andrew. With that, I’d like to thank everyone for joining our call this morning. We appreciate your interest in Global Payments and all of your support, and I’ll wish everyone a happy Valentine’s day. Have a great day.

Operator: Thank you. This concludes today’s conference call. You may disconnect your lines at this time. Thank you for your participation.