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Revenues | 6 Months Ended
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Jun. 30, 2022
Revenue from Contract with Customer [Abstract] |
Revenues | Revenues Disaggregation of Revenue The Company disaggregates revenue from contracts with customers into primary geographical markets, nature of the products and services, and timing of transfer of goods and services. The Company's operating segments are determined by the nature of the products and services the Company provides and the primary geographical markets in which the Company operates. Revenue disaggregated by segment is discussed in Note 16, Segment Information. In the following tables, revenue for each segment, excluding intersegment revenues, is disaggregated by timing of revenue recognition for the periods indicated.
| Three months ended June 30, 2022
(In thousands) | Payment Services - Puerto Rico & Caribbean |  | Payment Services - Latin America |  | Merchant Acquiring, net |  | Business Solutions |  | Total
Timing of revenue recognition |  |  |  |  |  |  |  |  |
Products and services transferred at a point in time | $ | 101 |  |  | $ | 418 |  |  | $ | — |  |  | $ | 2,281 |  |  | $ | 2,800 |
Products and services transferred over time | 30,159 |  |  | 26,664 |  |  | 38,540 |  |  | 62,408 |  |  | 157,771 |
| $ | 30,260 |  |  | $ | 27,082 |  |  | $ | 38,540 |  |  | $ | 64,689 |  |  | $ | 160,571 |
| Three months ended June 30, 2021
(In thousands) | Payment Services - Puerto Rico & Caribbean |  | Payment Services - Latin America |  | Merchant Acquiring, net |  | Business Solutions |  | Total
Timing of revenue recognition |  |  |  |  |  |  |  |  |
Products and services transferred at a point in time | $ | 11 |  |  | $ | 508 |  |  | $ | — |  |  | $ | 1,104 |  |  | $ | 1,623 |
Products and services transferred over time | 26,148 |  |  | 23,491 |  |  | 38,335 |  |  | 59,551 |  |  | 147,525 |
| $ | 26,159 |  |  | $ | 23,999 |  |  | $ | 38,335 |  |  | $ | 60,655 |  |  | $ | 149,148 |
| Six months ended June 30, 2022
(In thousands) | Payment Services - Puerto Rico & Caribbean |  | Payment Services - Latin America |  | Merchant Acquiring, net |  | Business Solutions |  | Total
Timing of revenue recognition |  |  |  |  |  |  |  |  |
Products and services transferred at a point in time | $ | 155 |  |  | $ | 432 |  |  | $ | — |  |  | $ | 4,166 |  |  | $ | 4,753 |
Products and services transferred over time | 56,589 |  |  | 52,161 |  |  | 74,168 |  |  | 123,148 |  |  | 306,066 |
| $ | 56,744 |  |  | $ | 52,593 |  |  | $ | 74,168 |  |  | $ | 127,314 |  |  | $ | 310,819 |
| Six months ended June 30, 2021
(In thousands) | Payment Services - Puerto Rico & Caribbean |  | Payment Services - Latin America |  | Merchant Acquiring, net |  | Business Solutions |  | Total
Timing of revenue recognition |  |  |  |  |  |  |  |  |
Products and services transferred at a point in time | $ | 89 |  |  | $ | 1,184 |  |  | $ | — |  |  | $ | 3,602 |  |  | $ | 4,875 |
Products and services transferred over time | 50,930 |  |  | 46,112 |  |  | 69,202 |  |  | 117,557 |  |  | 283,801 |
| $ | 51,019 |  |  | $ | 47,296 |  |  | $ | 69,202 |  |  | $ | 121,159 |  |  | $ | 288,676 |
Contract Balances The following table provides information about contract assets from contracts with customers.
(In thousands) | June 30, 2022 |  | December 31, 2021
Balance at beginning of period | $ | 1,715 |  |  | $ | 2,796 |
Services transferred to customers | 5,077 |  |  | 5,374 |
Transfers to accounts receivable | (2,161) |  |  | (6,455) |
Balance at end of period | $ | 4,631 |  |  | $ | 1,715 |
The current portion of contract assets is recorded as part of prepaid expenses and other assets, and the long-term portion is included in other long-term assets in the unaudited condensed consolidated balance sheets. Accounts receivable, net as of June 30, 2022 amounted to $107.7 million. Contract liability and contract liability - long term at June 30, 2022 amounted to $21.4 million and $32.7 million, respectively, and may arise when consideration is received or due in advance from customers prior to performance. The contract liability is mainly comprised of upfront fees for implementation or set up activities, including fees charged in pre-production periods in connection with hosting services. Contract liabilities may also arise when consideration is received or due in advance from customers prior to performance. During the three and six months ended June 30, 2022, the Company recognized revenue of $5.0 million and $12.1 million respectively that was included in the contract liability at December 31, 2021. During the three and six months ended June 30, 2021, the Company recognized revenue of $7.1 million and $15.4 million that was included in the contract liability at December 31, 2020. Transaction price allocated to the remaining performance obligations The estimated aggregate amount of the transaction price allocated to performance obligations that are unsatisfied or partially satisfied at June 30, 2022 is $233.1 million. This amount primarily consists of professional service fees for implementation or set up activities related to managed services and maintenance services, typically recognized over the life of the contract, which varies from 2 to 5 years. It also includes professional service fees for customizations or development of on-premise licensing agreements, which are recognized over time based on inputs relative to the total expected inputs to satisfy a performance obligation.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI https://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 + Details
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