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Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Schedule of Selected Financial Data by Reportable Segment | The following is selected financial data for the Company’s reportable segments for the periods indicated (in thousands):
| Year Ended December 31, 2024
| Banks |  | Merchants |  | Billers |  | Total
Revenues | $ | 701,860 |  |  | $ | 165,910 |  |  | $ | 726,518 |  |  | $ | 1,594,288 |
Less: |  |  |  |  |  |  |
Interchange (a) | — |  |  | — |  |  | 469,358 |  |  | 469,358 |
Global technology and innovation (b) | 187,440 |  |  | 58,157 |  |  | 49,502 |  |  | 295,099 |
Other segment items (c) | 88,901 |  |  | 38,205 |  |  | 76,471 |  |  | 203,577 |
Segment Adjusted EBITDA | $ | 425,519 |  |  | $ | 69,548 |  |  | $ | 131,187 |  |  | $ | 626,254 |
Reconciliation of income before income taxes |  |  |  |  |  |  |
Depreciation and amortization |  |  |  |  |  |  | (110,962) |
Stock-based compensation expense |  |  |  |  |  |  | (41,281) |
Corporate and unallocated expenses |  |  |  |  |  |  | (165,876) |
Interest, net |  |  |  |  |  |  | (56,545) |
Other, net |  |  |  |  |  |  | (1,181) |
Income before income taxes |  |  |  |  |  |  | $ | 250,409 |
| Year Ended December 31, 2023
| Banks |  | Merchants |  | Billers |  | Total
Revenues | $ | 616,051 |  |  | $ | 150,616 |  |  | $ | 685,912 |  |  | $ | 1,452,579 |
Less: |  |  |  |  |  |  |
Interchange (a) | — |  |  | — |  |  | 421,133 |  |  | 421,133 |
Global technology and innovation (b) | 172,387 |  |  | 59,393 |  |  | 45,012 |  |  | 276,792 |
Other segment items (c) | 88,175 |  |  | 46,878 |  |  | 77,424 |  |  | 212,477 |
Segment Adjusted EBITDA | $ | 355,489 |  |  | $ | 44,345 |  |  | $ | 142,343 |  |  | $ | 542,177 |
Reconciliation of income before income taxes |  |  |  |  |  |  |
Depreciation and amortization |  |  |  |  |  |  | (122,373) |
Stock-based compensation expense |  |  |  |  |  |  | (24,547) |
Corporate and unallocated expenses |  |  |  |  |  |  | (174,849) |
Interest, net |  |  |  |  |  |  | (64,271) |
Other, net |  |  |  |  |  |  | (8,510) |
Income before income taxes |  |  |  |  |  |  | $ | 147,627 |
| Year Ended December 31, 2022
| Banks |  | Merchants |  | Billers |  | Total
Revenues | $ | 638,585 |  |  | $ | 153,905 |  |  | $ | 629,411 |  |  | $ | 1,421,901 |
Less: |  |  |  |  |  |  |
Interchange (a) | — |  |  | — |  |  | 406,610 |  |  | 406,610 |
Global technology and innovation (b) | 177,379 |  |  | 54,531 |  |  | 39,621 |  |  | 271,531 |
Other segment items (c) | 90,189 |  |  | 50,345 |  |  | 75,809 |  |  | 216,343 |
Segment Adjusted EBITDA | $ | 371,017 |  |  | $ | 49,029 |  |  | $ | 107,371 |  |  | $ | 527,417 |
Reconciliation of income before income taxes |  |  |  |  |  |  |
Depreciation and amortization |  |  |  |  |  |  | (127,328) |
Stock-based compensation expense |  |  |  |  |  |  | (29,753) |
Corporate and unallocated expenses |  |  |  |  |  |  | (166,501) |
Interest, net |  |  |  |  |  |  | (40,646) |
Other, net |  |  |  |  |  |  | 43,446 |
Income before income taxes |  |  |  |  |  |  | $ | 206,635 |
(a) Interchange – Interchange costs include all payment card interchange fees, amounts payable to banks, and payment card processing fees associated with providing services to Biller customers. (b) Global Technology & Innovation – (“GTI”) costs include the costs of maintaining software products, as well as the costs required to deliver, install, and support software at customer sites. It also includes maintenance costs, which are the efforts associated with providing the customer with upgrades, 24-hour help desk, post go-live (remote) support, and production-type support for software that was previously installed at a customer location. GTI includes costs to provide SaaS and PaaS services including our data center operations. Service costs including human resource and other incidental costs such as travel and training required for both pre go-live and post go-live support. Such efforts include project management, delivery, product customization and implementation, installation support, consulting, configuration, and on-site support. GTI also includes research and development expenses which are primarily human resource costs related to the creation of new products, improvements made to existing products, as well as compatibility with new operating system releases and generations of hardware. (c) Other segment items – other includes selling and marketing, product management, third-party royalties and other cost of goods sold excluding interchange. Selling and marketing costs, which are the costs related to selling our products to current and prospective customers as well as the costs related to promoting the Company, its products and the research efforts required to measure customers’ future needs and satisfaction levels. Selling costs are primarily the human resource and travel costs related to the effort expended to license our products and services to current and potential clients within defined territories and/or industries as well as the management of the overall relationship with customer accounts. Selling costs also include the costs associated with assisting distributors in their efforts to sell our products and services in their respective local markets. Product management costs are primarily the human resource costs related to developing and documenting our product requirements.
Schedule of Revenue by Primary Solution Category for Reportable Segments | The following is revenue by primary solution category for the Company’s reportable segments for the periods indicated (in thousands):
| Year Ended December 31, 2024
| Banks |  | Merchants |  | Billers |  | Total
Primary Solution Categories |  |  |  |  |  |  |
Bill Payments | $ | — |  |  | $ | — |  |  | $ | 726,518 |  |  | $ | 726,518 |
Merchant Payments | — |  |  | 165,910 |  |  | — |  |  | 165,910 |
Fraud Management | 52,412 |  |  | — |  |  | — |  |  | 52,412 |
Real-Time Payments | 126,740 |  |  | — |  |  | — |  |  | 126,740 |
Issuing and Acquiring | 522,708 |  |  | — |  |  | — |  |  | 522,708 |
Total | $ | 701,860 |  |  | $ | 165,910 |  |  | $ | 726,518 |  |  | $ | 1,594,288 |
| Year Ended December 31, 2023
| Banks |  | Merchants |  | Billers |  | Total
Primary Solution Categories |  |  |  |  |  |  |
Bill Payments | $ | — |  |  | $ | — |  |  | $ | 685,912 |  |  | $ | 685,912 |
Digital Business Banking | 2,792 |  |  | — |  |  | — |  |  | 2,792 |
Merchant Payments | — |  |  | 150,616 |  |  | — |  |  | 150,616 |
Fraud Management | 63,503 |  |  | — |  |  | — |  |  | 63,503 |
Real-Time Payments | 128,957 |  |  | — |  |  | — |  |  | 128,957 |
Issuing and Acquiring | 420,799 |  |  | — |  |  | — |  |  | 420,799 |
Total | $ | 616,051 |  |  | $ | 150,616 |  |  | $ | 685,912 |  |  | $ | 1,452,579 |
| Year Ended December 31, 2022
| Banks |  | Merchants |  | Billers |  | Total
Primary Solution Categories |  |  |  |  |  |  |
Bill Payments | $ | — |  |  | $ | — |  |  | $ | 629,411 |  |  | $ | 629,411 |
Digital Business Banking | 35,504 |  |  | — |  |  | — |  |  | 35,504 |
Merchant Payments | — |  |  | 153,905 |  |  | — |  |  | 153,905 |
Fraud Management | 47,421 |  |  | — |  |  | — |  |  | 47,421 |
Real-Time Payments | 104,777 |  |  | — |  |  | — |  |  | 104,777 |
Issuing and Acquiring | 450,883 |  |  | — |  |  | — |  |  | 450,883 |
Total | $ | 638,585 |  |  | $ | 153,905 |  |  | $ | 629,411 |  |  | $ | 1,421,901 |
The following is revenue by the Company's reportable segments for the periods indicated (in thousands):
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Banks |  |  |  |  |
Software as a service and platform as a service | $ | 45,020 |  |  | $ | 39,803 |  |  | $ | 48,932 |
License | 388,291 |  |  | 311,549 |  |  | 336,028 |
Maintenance | 176,797 |  |  | 189,650 |  |  | 184,017 |
Services | 91,752 |  |  | 75,049 |  |  | 69,608 |
Total | $ | 701,860 |  |  | $ | 616,051 |  |  | $ | 638,585 |
Merchants |  |  |  |  |
Software as a service and platform as a service | $ | 126,441 |  |  | $ | 123,528 |  |  | $ | 124,631 |
License | 24,015 |  |  | 9,675 |  |  | 12,106 |
Maintenance | 13,966 |  |  | 15,322 |  |  | 15,934 |
Services | 1,488 |  |  | 2,091 |  |  | 1,234 |
Total | $ | 165,910 |  |  | $ | 150,616 |  |  | $ | 153,905 |
Billers |  |  |  |  |
Software as a service and platform as a service | $ | 726,518 |  |  | $ | 685,816 |  |  | $ | 629,317 |
License | — |  |  | — |  |  | — |
Maintenance | — |  |  | 96 |  |  | 94 |
Services | — |  |  | — |  |  | — |
Total | $ | 726,518 |  |  | $ | 685,912 |  |  | $ | 629,411 |
Schedule of Revenue by Geographic Areas | The following is the Company's revenue by geographic location for the periods indicated (in thousands):
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Revenue |  |  |  |  |
United States | $ | 931,051 |  |  | $ | 887,168 |  |  | $ | 851,712 |
Other | 663,237 |  |  | 565,411 |  |  | 570,189 |
Total | $ | 1,594,288 |  |  | $ | 1,452,579 |  |  | $ | 1,421,901 |
Schedule of Long-lived Assets by Geographic Location | The following is the Company’s long-lived assets by geographic location for the periods indicated (in thousands):
| December 31,
| 2024 |  | 2023
Long-lived Assets |  |  |
United States | $ | 1,169,965 |  |  | $ | 1,216,158 |
Other | 791,793 |  |  | 763,437 |
Total | $ | 1,961,758 |  |  | $ | 1,979,595 |

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- Definition Tabular disclosure of revenue from external customers by geographic areas attributed to the entity's country of domicile and to foreign countries from which the entity derives revenue. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
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- Definition Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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