Savneet Singh: I don’t think we see any change. I think it just continues to be high. I think, what is been exciting about this year is our engagement with some of the largest change in the world, coupled with a focus on the emerging change that we have always been very strong with. So I don’t think there is been a change. It just seems very consistent. There is not one sense of slow down because of the macro at all in that business. And I think what is really starting to click obviously is that consistent bundling payments with Brink. Not only valuing, creating tons of value for PAR, but creating, um, a lot more value for our customers.
Operator: Our next question comes from Will Nance from Goldman Sachs.
Will Nance: I wanted to ask on the Punchh business, I know you said exceeded your expectations, that seems to be a, maybe a little bit of an understatement. It looked like it was a pretty substantially sequentially. Just wondering if you could talk about the sustainability of this pace of activations in that business and just how you are thinking about the remainder of the year?
Savneet Singh: As we message on Punchh, I think we are kind of getting our footing here. We have spent a ton of money scaling the platform, the usage on Punchh. As I mentioned, it is kind of crazy, but the usage of the platform is up four times in just one year. And it was already a really big base of usage. And so, we have grown into that. We have definitely got some bruises through that. But I think what is great is. It also provides a great moat for us because there are not, we are not aware of any other organization that has the ability to deploy at the scale that we do. And so while, it is painful to make investments, obviously in this environment, it is also exciting because there really isn’t anybody that can kind of step into that scale like we can.
And so it is a long-term strategic advantage and the pipeline looks better now than the last quarter. And it looks better than when, if you asked me two quarters ago. And so we see nice momentum, I just met with the sales, one of the sales leaders, the sales leader a couple days ago. The pipeline looks strong for Q3, Q4, but we have going to close that business. We have going to win that business and make sure we pull it into 2023.
Will Nance: And then I know you mentioned a little bit of investments on the payment side. I’m just wondering if you could kind of revisit attach rates there and any updates to the expectation for 10 million to 15 million of ARR exiting the year?
Savneet Singh: We feel very good about hitting that target on payments. You can see just the big jump we had this quarter. I expect us to hit that range. I also think that, like the year with a very strong backlog for 2024, given what we see today. Detachment rates of payments on Brink is still very high. It is 80% plus is my guess. I will come back to you with the with the actual number, but it is very, very high. When we get a new customer, we are usually successful in attaching payments because it creates a ton of value to the end customer. It is generally more cost effective, simpler, one hand to shake, the servicing is – all of the above. And then, for some reason, if we don’t win the payments business, it is generally either because they are in an existing contract with somebody else that doesn’t have a buyout clause. And then we will weigh around the quarter for that opportunity to come back to us.
