“Acquisitions are expected to add 1 to 1.5 ppt to this growth rate for the year.”

In context

“s, discretionary and non-discretionary spend categories, domestic and cross-border spend, and countries and corridors. For example, when looking at cross-border corridor pairs, meaning the inbound and outbound flows between two countries, no cross-border corridor pair represented more than 3% of our total cross-border volume in 2024. This diversification brings resilience, as does our disciplined approach to capital allocation. We will continue to monitor the external environment and have expense levers to adjust, if necessary. Now turning to our expectations for the full year 2025, our base case assumes consumer spending remains healthy. We continue to expect net revenue to grow at the high end of a low double digits to low teens range on a currency neutral basis, excluding acquisitions. Acquisitions are expected to add 1 to 1.5 ppt to this growth rate for the year. Given recent currency fluctuations, we now estimate a minimal impact from foreign exchange. From an operating expense standpoint, we continue to expect growth to be at the low end of a low double digits range versus a year ago on a currency neutral basis, excluding acquisitions and special items. Acquisitions are forecasted to increase the OpEx growth rate for the year by approximately 5 ppt, while we expect a minimal impact from foreign exchange. Now turning to the second quarter of 2025, year-over-year net revenue growth is expected to be at the low teens range on a currency neutral basis, excluding acquisitions. Acquisitions are forecasted to have a 1 to 1.5 ppt impact to this growth rate, while we expect a minimal impact from foreign exchange for the quarter. From an operating expense”