Management remarks
Call period: 2026 Q2 · 2026-07-28
Guidance: Jamie Miller: With that as a backdrop, we are raising guidance for the full year. We now expect transaction margin dollars to increase to approximately $15.6 billion or $14.5 billion, excluding interest on customer balances.Demand and orders: Jamie Miller: Total payment volume was $486 billion, accelerating to 9% currency-neutral growth.Margins: Jamie Miller: Transaction take rate declined by 7 basis points to 1.61%. Operationally, this was driven by a combination of factors, including branded co-marketing investments and mix dynamics, including faster Venmo growth.Analyst Q&A
Analyst Bryan Keane asked: I wanted to ask my one question on BNPL. Obviously, that's a major driver in Syntech these days. What caused the 3 points of growth acceleration to 26% this quarter. Management Enrique Lores answered: We have been expanding our portfolio of offerings across improving, expanding the geographical coverage that we have. And for example, in Europe, we expanded during the last months to multiple countries. And we are also expanding distribution and working with partners that will integrate that in their platforms. And we clearly see these results in specific customer cases. For example, in a leading fashion retailer where we signed an exclusive BNPL agreement during the last month, we went from a TPV declining business to close to 10% growth in Q2.管理层陈述
电话会期间：2026 Q2 · 2026-07-28
指引：杰米·米勒：以此为背景，我们上调了全年业绩预期。目前我们预计交易边际利润额将增至约156亿美元，若剔除客户余额利息则为145亿美元。需求与订单：杰米·米勒：总支付规模达4860亿美元，经汇率调整后的增长率升至9%。利润率：杰米·米勒：交易手续费率下降7个基点至1.61%。运营层面上，这源于品牌联合营销投入以及包括维莫增长更快在内的结构动态等多重因素。分析师问答
分析师布莱恩·基恩提问：我想问问先买后付（BNPL）业务，这如今是Syntech的主要驱动力，请问本季度该业务增长加速3个百分点至26%的原因是什么？ 管理层代表恩里克·洛雷斯回应：我们扩展了产品组合与地理覆盖范围，比如近几个月进军欧洲多国，还拓展了分销渠道并与合作伙伴合作。具体案例显示成效：上月与头部时尚零售商签署独家BNPL协议后，其交易总价值（TPV）从下滑转为第二季度近10%的增长。This earnings-call research was prepared from company results, regulatory filings, financial statements, and earnings-call transcripts or official replays. It is for informational purposes only and does not constitute investment advice.这篇财报电话会研究基于公司公告、监管文件、财务报表，以及真实电话会文字稿或官方回放整理。内容仅供参考，不构成投资建议。
