Frank Bisignano: Yes. I think, as you’ve watched the evolution over time, I start with — we love operating systems. We love our platform systems. And the investments that we made in Optis through the cycle, really has benefited us in the client’s office. And I think it’s the full enterprise capability that we bring. I think it’s a single platform that we bring, its the modernization of the platform that we did over the past few years. And I think, we came and talked at 2020 Investor Day about the three large wins that were in the top 25. And then, we continue to add. If you remember, I’ve said to many, I believe, that we did think those three top wins were a very, very, very one-time unique situation. But we came back and said over the past year, we want as much as those three and then we followed on with these two wins that we’re pretty darn proud of, on the rate card of Target and Desjardins.
These are long-term big decisions for these issuers, long-term relationships. And I think the team has done an unbelievable job building out the platform, building out the capabilities, all the way from loyalty to use their interfaces. And so, I think, the fruits of this labor continue to come through. And that will be a ramp like the last one.
Operator: Thank you. Our next question comes from Dave Koning from Baird. Please, go ahead.
Dave Koning: Yes. Hey, guys. Great job. And, I guess, my question, within the Acceptance segment, the gap between revenue growth and volume growth was pretty massive. It was 10%, which might be the biggest we’ve ever seen potentially. Is that the mix of SMBs, like you’re actually seeing SMBs really good? Is it just more products sold the Clover? You talked about that. Is it pricing? Maybe talk a little bit about that? And then is that sustainable through 2023?
Bob Hau: Yes, Dave, it’s Bob. Thanks for the question. The answer to your question is, yes, it was those items. Obviously, we’re continuing to see great growth in the business. We’ve talked about the key drivers of growth, getting more merchants, selling more to merchants, the value-added sales. You saw our penetration rate go up in Clover. We continue to build out our direct sales channel. The integration of Bento into the Clover solution significantly increases the ARPU. And then, we saw some benefit of value-based pricing, so kind of across the board doing very well. And that’s both in the SMB as well as in the enterprise markets for us. Am I going to suggest we’ll continue that 10% every quarter going forward? No, I wouldn’t lay that out, but we see tremendous opportunity for continued growth.
We call you back to our March investor call that we had on the merchant business. We think this is a $10 billion business in 2025 and 2022; the first year on that journey was right on track.
Operator: Thank you. Our next question comes from Ramsey El-Assal from Barclays. Please go ahead.
Ramsey El-Assal: Hi. Thanks for taking my question. Can you comment on growth in different geographies? I know Europe had seen some weakness previously. Where are you seeing the more robust growth across the globe versus some weakness?
