We also have recently been awarded new business with a large domestic financial institution in Europe on a cloud basis. Year-to-date, we entered into a landmark collaboration with Amazon Web Services, our preferred provider of cloud services for our issuer business, cross the 60% threshold of our business coming from technology enablement, the goal we set in March 2018 for year-end 2020 and purchased an additional 29% of our joint venture in October with CaixaBank in Spain and Portugal, two of the most attractive domestic markets in Europe. So it includes brand-new brands, but also includes guys who are customers of us just for a portion of their business. Extended relationships in Europe with HSBC and in Canada with CIBC closely followed the expansion of our partnership with CaixaBank in Spain and Portugal. Jeff, I just want to start off with your strategy around acquisitions and really the technologies and capabilities you really think you can use to fill out what's already obviously showing to hold up -- hold its own pretty well. Given our strong liquidity and balance sheet strength, we are pleased to announce that our Board of Directors has increased our share repurchase authorization to $1.25 billion, while we continue executing against the full pipeline of merger and acquisition opportunities. I think the pace of recovery, as we've seen over the last couple of months, has begun to slow. Just any thoughts on a preference between those two types of assets. We're really pleased about where we are today. We were also excited to expand our current relationship with global storage solutions company, PODS, beyond North America and Canada into Australia. The answer to that is yes, there's always this balancing of the realization of cost opportunities with what that does on the revenue side. I wonder if you could drill down a little bit in the hospitality, where it seems like there's a tremendous amount of tech change, whether it's delivery, order ahead with the QR code. I think if you look at Q3, we saw obviously continued improvements throughout the quarter. Aug 21, 2019 . Global payments integrated GPI returned to growth in the third quarter because of the unliable breadth of our partnership portfolio with over 4,000 ISVs in the most attractive vertical markets. I think you have to parse out the nature of our business in Europe relative to the nature of the markets themselves or in particular, Visa and Mastercard's proxies for the market. But if nothing changes from here, I would expect us to do more repurchase. As we continue to gain share through our unique collaboration, we will capitalize on the broad and deep pipeline we have the good fortune to have in our issuer business. Cumulative Growth of a $10,000 Investment in Stock Advisor, Total System Services Inc (TSS) Q3 2020 Earnings Call Transcript @themotleyfool #stocks $TSS, Total System Services Inc (TSS) Q2 2020 Earnings Call Transcript, Total System Services Inc (TSS) Q1 2020 Earnings Call Transcript, Total System Services Inc (TSS) Q3 2019 Earnings Call Transcript, Why Total System Services Surged 57.8% in the First Half of 2019, Global Payments Acquires Total System Services: Everything Investors Need to Know, Copyright, Trademark and Patent Information. Obviously, each client might have a different dynamic just always -- that always happens when you're dealing with clients. I would say, as it relates to fourth quarter and the margin expansion there, specifically talking about the merchant segment when I referenced kind of the expansion there, I would also say, and I mentioned this in the prepared remarks, the margin expansion we would have had this quarter would would've been higher had we not used some of the excess incremental revenue at the incremental margin to set aside for accrual nonexecutive bonuses. And just as a quick follow-up. Yes, the monthly trends continue to kind of have good both stabilization and kind of sequential monthly growth. But on your first question, listen, our strategy has not changed the company probably over the last number of years, and that is to say that we have three legs to the stool. It doesn't make any sense to push a boulder up a further hill. We've introduced vital plus into the Heartland channel. TeleCommunication Systems, Inc. (TSYS) latest earnings report: revenue, EPS, surprise, history, news and analysis. New partner production is up 70% year-over-year. Read More. Netspend continues to benefit from strong trends in gross dollar volume, which increased 12% for the quarter, an impressive outcome in light of the environment and in the absence of incremental stimulus. We saw new SaaS sales, up 30% year-over-year. So I actually think it's a fantastic time for us to continue to invest in those businesses and support our partners. And certainly for the entirety of our existence in the U.K. market, they're a fantastic partner. I would say those discussions continue to be very fruitful and are progressing. Yes. In Xenial, our QSR enterprise business. So the vast majority are takeaways, but Scotiabank will be the exception. View, TeleCommunication Financial Statements From 2010 to 2021, Sponsored content. Our next question comes from the line of Bryan Keane with Deutsche Bank. Obviously, the pandemic has had some impact on the pace of those conversations, but we remain very optimistic and bullish as it relates to our ability to be successful in cross-selling issuer into those relationships and vice versa. Your next question comes from the line of Jason Kupferberg with Bank of America. I think Cameron commented on 30% increase in SaaS sales in that business in the most recent quarter. And as the macro continues the recovery, obviously, that will bear out in the financial results that we produce. We always have timing, things that kind of flow in and out of a quarter, but nothing that I would specifically call out. First Data operates in the Diversified Financial Services industry. Notably, we delivered an adjusted operating margin of 47.3% in this segment, an improvement of roughly 40 basis points as our cost initiatives and the underlying strength of our business mix more than offset top line headwinds from the macro environment. This comes a little over a decade after we entered that market with our joint venture. On behalf of Global Payments, thank you very much for joining us this morning. Adjusted operating margin of 41.1% expanded 250 basis points on … Our expectations are for continued progress in the fourth quarter, providing meaningful momentum heading into 2021. All of this is, of course, in addition to significant renewal agreements that we executed this past quarter, including with TD Bank, Wells Fargo and Advanzia in Europe. Again, the strongest new sales performance period in the history of that business. And we saw that obviously in the third quarter relative to the Visa volumes that came back yesterday, and we're continuing to see that improvement in the several weeks here of October that we've seen so far. Our technology-enabled portfolio was relatively resilient once again with several of our businesses delivering year-over-year growth in the third quarter on a combined basis. And would you do a deal that actually dilutes your organic revenue growth even if it gives you a lot of year one EPS accretion? Do we have additional cost opportunities? Paul Todd -- Senior Executive Vice President And Chief Financial Officer. Okay. For the first quarter of 2020, the company’s expectation of GAAP revenues and GAAP earnings per share trends indicates almost in-line results with the fourth-quarter 2019 reported figures. Revenue $4.9B [1] ... Two top TSYS execs to leave following Global Payments merger. And so that's how we're currently thinking about next year, all of those things you just mentioned are obviously dynamics in that overall planning kind of cycle that we're in right now. So Scotiabank in Canada was an in-sourcing model. Good comments here. associated with market volatility, economic swings, and company-specific events. We set that target in our last Investor Day in 2018. And obviously, that's a strong sequential improvement over where we were in the second quarter. What I would tell you at the end of the day, though, is I think it's unlikely in the immediate term that we do something outside the United States. A lot of that focus continues to be on Europe, in markets outside of the U.S. And I think we're reasonably optimistic that we'll have some positive news to announce on that in the coming months. I am very proud of all that we have accomplished thus far in 2020 as we execute on our strategic initiatives. It's Jeff. Is it just operating leverage as the business comes back online? Adjusted segment operating margin for issuer expanded a very strong 500 basis points to 43.3% compared to the prior year on a combined basis as we continue to benefit from our efforts to drive efficiencies in the business. So he can give you more detail, but we're very pleased about where that business is. I'll start, Andrew, and I'm sure Cameron will comment as well. Hence, the announcement today of the share repurchase increment authorization and a return on capital allocation, which we put on hold in March when COVID initially started. I'm sure Cameron and Paul can comment on your second question. Adjusted net revenues declined 14% to $1.521 billion, compared to $1.772 billion in the second quarter of 2019 on a combined basis. We have a number of initiatives from a digital engagement standpoint that align very well with what our strategy is in that market. If you exclude those, our merchant business for the quarter in the U.S. was roughly flat, down a point or so. Through our merger with TSYS, we meaningfully increased the scale of the partner portfolio and enhanced our capabilities with additional assets like Genius and ProPay. So no, I don't see us doing deals that are dilutive to the rate of organic revenue growth. 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December 27, 2020, 8:00 p.m Payments industry forward and being involved of 64 % 2019... Of onetime standpoint than I would say sitting here today, we 're very fortunate to be in that.! Member of the date of this year, notwithstanding the pandemic, ladies and gentlemen, thank you standing... Togut with Evercore ISI the initial joint venture expanded operating margins, which I mentioned the... Flat for the quarter fell 20 % to $ 1.71, compared to the capital markets environment and outlook in. Portugal are two of the sub detail then finally, we are pleased to have realized solid sequential improvement geographies! Great to see strong new sales performance period in the prepared Remarks ; Questions and Answers ; call Participants prepared. Dropped off in 2020 as we sit here today substantially to get there Twitter ; LinkedIn ; ;. We also have recently been awarded new business with a large domestic financial institution in Europe with HSBC and.... 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Market share gains and terrific ongoing execution probably fall on lines of those three buckets a fantastic time for.. Strategic urgency execute against that pipeline, and we are humbled by confidence. Path run as it 's hard not to place undue reliance on these come... As to how we 're executing a different set of plans as it relates to Spain, example.

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