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Revenue Recognition
 9 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
The Company generates revenue from the delivery of processing, service and product solutions. Revenue is measured based on consideration specified in a contract with a customer and excludes any amounts collected on behalf of third parties. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer which may be at a point in time or over time.
Disaggregation of Revenue
The Company’s operations are comprised of the Merchant and the Financial reportable segments (see Note 20). The table below presents the Company’s revenue disaggregated by business line and includes a reconciliation with its reportable segments. The
Company serves its global client base by working among its geographic teams across various regions, including the U.S. and Canada; Europe, Middle East and Africa (“EMEA”); Latin America (“LATAM”); and Asia Pacific (“APAC”). The majority of the Company’s revenue is earned in the U.S., with revenue generated within its EMEA, LATAM and APAC regions comprising approximately 16% and 15% of total revenue for the three and nine months ended September 30, 2025, respectively, and approximately 15% of total revenue for each of the three and nine months ended September 30, 2024.
(In millions)
Three Months Ended September 30,Nine Months Ended September 30,
Revenue by Business Line
2025202420252024
Small Business$1,741 $1,627 $5,109 $4,719 
Enterprise580 558 1,669 1,563 
Processing265 284 824 850 
Total Merchant Solutions segment revenue$2,586 $2,469 $7,602 $7,132 
Digital Payments
$939 $987 $2,985 $2,894 
Issuing
802 789 2,492 2,316 
Banking
592 636 1,825 1,866 
Total Financial Solutions segment revenue$2,333 $2,412 $7,302 $7,076 
Corporate and Other$344 $334 $1,005 $997 
Total Revenue
$5,263 $5,215 $15,909 $15,205 
Contract Balances
The following table provides information about contract assets and contract liabilities from contracts with customers:
(In millions)September 30, 2025December 31, 2024
Contract assets$904 $832 
Contract liabilities1,130 1,082 
Contract assets, reported within other long-term assets in the consolidated balance sheets, primarily relate to customer discounts (contract incentives) where revenue is recognized and payment of consideration under the contract is contingent upon the transfer of services to a customer over the contractual period. Contract liabilities primarily relate to advance consideration received from customers (deferred revenue) for which transfer of control occurs, and therefore revenue is recognized, as services are provided. Contract balances are reported in a net contract asset or liability position on a contract-by-contract basis at the end of each reporting period. The Company recognized $711 million of revenue during the nine months ended September 30, 2025 that was included in the contract liabilities balance at the beginning of the period.
Transaction Price Allocated to Remaining Performance Obligations
The following table includes estimated processing and services revenue expected to be recognized in the future related to performance obligations that were unsatisfied (or partially unsatisfied) at September 30, 2025:
(In millions)
Year Ending December 31,
Remainder of 2025$655 
20262,345 
20271,781 
20281,251 
Thereafter1,385 
The Company applies the optional exemption under Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606”), and does not disclose information about remaining performance obligations for account- and transaction-based processing fees that qualify for recognition under the as-invoiced practical expedient. These multi-year contracts contain variable consideration for stand-ready performance obligations for which the exact quantity and mix of transactions to be processed are contingent upon the customer’s request. The Company also applies the optional
exemptions under ASC 606 and does not disclose information for variable consideration that is a sales-based or usage-based royalty promised in exchange for a license of intellectual property or that is allocated entirely to a wholly unsatisfied performance obligation or to a wholly unsatisfied promise to transfer a distinct good or service in a series. The amounts disclosed above as remaining performance obligations consist primarily of fixed or monthly minimum processing fees and maintenance fees under contracts with an original expected duration of greater than one year.