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Revenue
9 Months Ended
Sep. 30, 2023
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
The Company’s disaggregated net revenue by category and geographic region were as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
(in millions)
Net revenue by category:
Payment network$4,210 $3,765 $11,933 $10,773 
Value-added services and solutions2,323 1,991 6,617 5,647 
Net revenue$6,533 $5,756 $18,550 $16,420 
Net revenue by geographic region:
North American Markets 1
$2,109 $2,031 $6,143 $5,769 
International Markets4,424 3,725 12,407 10,651 
Net revenue$6,533 $5,756 $18,550 $16,420 
1North American Markets includes the United States and Canada, excluding the U.S. Territories.
The Company’s customers are generally billed weekly, with certain billings occurring on a monthly and quarterly basis. The frequency of billing is dependent upon the nature of the performance obligation and the underlying contractual terms. The Company does not typically offer extended payment terms to customers. The following table sets forth the location of the amounts recognized on the consolidated balance sheet from contracts with customers:
September 30,
2023
December 31,
2022
(in millions)
Receivables from contracts with customers
Accounts receivable
$3,666 $3,213 
Contract assets
Prepaid expenses and other current assets105 118 
Other assets390 442 
Deferred revenue 1
Other current liabilities548 434 
Other liabilities300 248 
1    Revenue recognized from performance obligations satisfied during the three and nine months ended September 30, 2023 was $533 million and $1,362 million, respectively.