William Nance: Hey guys! I appreciate you taking my questions. I just wanted to ask on some of the spending trends that you guys are seeing. I mean I think, you know specifically the overseas exposure, the exposure to e-commerce, particularly some things like luxury and apparel. I think that just a lot of people are curious on what you guys are seeing with the boots on the ground in terms of consumer spending behavior. How is that trending over the course of October and you know the first parts of November? And just in general when we talk about you know the revision of the guidance being due to FX and due to this implementation delay, you know what gives you guys’ confidence that we don’t see a deceleration in kind of underlying spending levels for the remainder of the quarter? Just maybe talk around some of the macro assumptions and what you’re actually seeing on the ground?
Nir Debbi: Hi Will! It’s Nir. So for the first part of your question, we do see different trends around different parts of the world in terms of consumer spending. We did see in the recent quarters a larger hit with European client spending as they were more affected or were more affected by the macroeconomics, especially interest rates and CPI increases. However, in Q3 what we started to see, especially in the second part of Q3, is also some slowness in APAC region, mainly Australia and New Zealand that we’ve seen a decrease in consumer spending, while U.S. is still holding relatively strong. So still we see growth. When we look at our existing merchants, we do see growth, but it is a softer growth than what we’ve seen in previous quarter, but this was basically already built in and we’ve seen this trend starting even prior to reporting our Q2 results.
Amir Schlachet: So, I just may add though Sorry Nir. Yeah, go ahead.
Nir Debbi: No, please go ahead.
Amir Schlachet: Yes, I just wanted to add that I think it’s always important to note that the consumer spend and consumer sentiment mostly affects our performance I would say in the shorter term. When we look at the longer term, it is much more impacted by the demand of our services from the merchant side, and on that front, because as we mentioned, we believe it’s a massive greenfield opportunity and we are in prime position to pursue it. We believe that this is the main deciding factor when we look at long-term growth and on that we are not seeing any softness whatsoever.
William Nance: Got it. It makes sense. I guess at risk of asking another short-term question, can I just circle back to the FX commentary? I was just wondering if you could kind of clarify when you guys are striking FX rates in this guidance? I mean unfortunately, you know seven days sort of matters given what FX markets have done worldwide over the past week. Just wondering if you could sort of provide a little color in terms of what’s baked into the guidance for the fourth quarter?
Ofer Koren: Yes. I think regarding FX, the best assumption always is to assume that it’s stable because no one knows the direction of FX. So basically we looked at the average of the last few days and this is what we incorporated in our guidance for Q4.
William Nance: Got it. That’s helpful. I appreciate you taking all my questions.
Ofer Koren: Thanks Will.
Operator: Thank you. Our next question is from the line of Brian Peterson with Raymond James. Please proceed with your question.
Unidentified Analyst: Hi! Thanks for taking the question. This is John on for Brian. On the pipeline in new deal activity, are you seeing any changes in your pipeline build metrics, including demos? I think last quarter you mentioned it was stronger than Q1. Has that continued or what indicators are you tracking there?
