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Segments | 3 Months Ended
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Mar. 31, 2026
Segment Reporting [Abstract] |
Segments | Segments In accordance with ASC 280, Segment Reporting, the Company evaluates its operating segments to determine how to report its financial performance. Operating segments are defined as components of an enterprise for which discrete financial information is available that is evaluated regularly by the Chief Operating Decision Maker (“CODM”) for the purposes of allocating resources and evaluating financial performance. The Company’s CODM is the chief executive officer, who reviews financial information on a consolidated level for purposes of allocating resources and evaluating financial performance, and as such, the Company’s operations constitute one operating segment and one reportable segment. The principal financial metric reviewed by the CODM on a monthly basis is consolidated net income. This metric is compared to prior periods and to the Company’s internal forecasts and budgets for the purposes of allocating resources and evaluating financial performance. The following table presents a disaggregation of the Company’s consolidated net income:
| Three Months Ended March 31, |  |
(in millions) | 2026 |  | 2025 |  |  |  |
Payments-based revenue | $ | 917 |  |  | $ | 756 |  |  |  |  |
TFS revenue | 102 |  |  | — |  |  |  |  |
Subscription and other revenue | 102 |  |  | 92 |  |  |  |  |
Network fees* | (572) |  |  | (479) |  |  |  |  |
Other costs of sales* (exclusive of depreciation of equipment under lease) | (157) |  |  | (112) |  |  |  |  |
General and administrative expenses: |  |  |  |  |  |  |
Employee and other general and administrative expenses* | (186) |  |  | (119) |  |  |  |  |
Equity-based compensation* | (17) |  |  | (27) |  |  |  |  |
Rent, office, occupancy and equipment expenses* | (13) |  |  | (7) |  |  |  |  |
Revaluation of contingent liabilities | — |  |  | 3 |  |  |  |  |
Depreciation and amortization expense* (a) | (94) |  |  | (56) |  |  |  |  |
Professional expenses* | (21) |  |  | (19) |  |  |  |  |
Advertising and marketing expenses* | (11) |  |  | (7) |  |  |  |  |
Interest income | 5 |  |  | 13 |  |  |  |  |
Other expense, net | (2) |  |  | (1) |  |  |  |  |
Change in TRA liability | — |  |  | 3 |  |  |  |  |
Interest expense* | (65) |  |  | (29) |  |  |  |  |
Income tax benefit | 24 |  |  | 9 |  |  |  |  |
Net income | $ | 12 |  |  | $ | 20 |  |  |  |  |
* Denotes a significant segment expense reviewed by the CODM. (a)Depreciation and amortization expense includes depreciation of equipment under lease of $22 million and $16 million for the three months ended March 31, 2026, and 2025 respectively.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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