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Revenues
 6 Months Ended
Jun. 30, 2024
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 15, 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, 2024
(In thousands)Payment Services - Puerto Rico & CaribbeanLatin America Payments and SolutionsMerchant Acquiring, netBusiness SolutionsTotal
Timing of revenue recognition
Products and services transferred at a point in time$78 $996 $— $1,653 $2,727 
Products and services transferred over time34,735 68,514 45,319 60,683 $209,251 
$34,813 $69,510 $45,319 $62,336 $211,978 


Three months ended June 30, 2023
(In thousands)Payment Services - Puerto Rico & CaribbeanLatin America Payments and SolutionsMerchant Acquiring, netBusiness SolutionsTotal
Timing of revenue recognition
Products and services transferred at a point in time$125 $639 $— $1,930 $2,694 
Products and services transferred over time33,983 34,110 41,248 55,041 164,382 
$34,108 $34,749 $41,248 $56,971 $167,076 





Six months ended June 30, 2024
(In thousands)Payment Services - Puerto Rico & CaribbeanLatin America Payments and SolutionsMerchant Acquiring, netBusiness SolutionsTotal
Timing of revenue recognition
Products and services transferred at a point in time$110 $1,553 $— $4,128 $5,791 
Products and services transferred over time68,647 138,104 88,418 116,336 $411,505 
$68,757 $139,657 $88,418 $120,464 $417,296 
Six months ended June 30, 2023
(In thousands)Payment Services - Puerto Rico & CaribbeanLatin America Payments and SolutionsMerchant Acquiring, netBusiness SolutionsTotal
Timing of revenue recognition
Products and services transferred at a point in time$238 $1,253 $— $3,657 $5,148 
Products and services transferred over time66,349 64,789 81,595 109,009 321,742 
$66,587 $66,042 $81,595 $112,666 $326,890 

Revenue concentration with a single customer, Popular, as a percentage of total revenues for the quarters ended June 30, 2024 and 2023 was approximately 32% and 37%, respectively. For the six months ended June 30, 2024 and 2023 this percentage was approximately 31% and 37%, respectively. Accounts receivable from Popular at June 30, 2024 and 2023 amounted to $37.0 million and $34.7 million, respectively.

Contract Balances

The following table provides information about contract assets from contracts with customers for the six months ended June 30, 2024 and the year ended December 31, 2023.
(In thousands)June 30, 2024December 31, 2023
Balance at beginning of period$13,917 $4,749 
Services transferred to customers15,000 28,165 
Transfers to accounts receivable(16,510)(18,997)
Balance at end of period$12,407 $13,917 

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 at June 30, 2024 amounted to $122.3 million. Contract liability and contract liability - long term at June 30, 2024 amounted to $18.9 million and $54.1 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. During the three and six months ended June 30, 2024, the Company recognized revenue of $7.2 million and $15.0 million, respectively, that was included in the contract liability at December 31, 2023. During the three and six months ended June 30, 2023, the Company recognized revenue of $4.3 million and $8.7 million, respectively, that was included in the contract liability at December 31, 2022.

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, 2024 was $860.7 million, which is expected to be recognized over the next 1 to 6 years. This amount consists of minimums on certain master services agreements, professional service fees for implementation or set up activities related to managed services and maintenance services typically recognized over the life of the contract, and 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.