“In 2021, approximately 20% of our top 100 merchants were on our latest checkout experiences. At the end of 2022, one third of our top 100 were in our latest checkout integration. And in 2023, we are targeting to be approximately 50%.”

In context

“enhance the overall P2P experience, including revamping the onboarding experience, reducing declines and introducing more value-added capabilities. I'm proud of all the team has done to responsibly innovate. We've made significant strides in upgrading our legacy infrastructure and retiring our technical debt. Eight years ago, we were primarily a monolithic C++ stack. By the end of Q1, we will have completed a full payment stack replatforming, leveraging a modern architecture and the latest software engineering methods. We had record platform availability in 2022, and we put out approximately 80,000 software releases. Our increased productivity and focused efforts are enabling us to make significant progress every quarter in upgrading our merchant base to our most advanced checkout flows. In 2021, approximately 20% of our top 100 merchants were on our latest checkout experiences. At the end of 2022, one third of our top 100 were in our latest checkout integration. And in 2023, we are targeting to be approximately 50%. And despite an increasingly competitive environment, we are confident that in total, we continue to hold share across our core markets. As we look ahead to 2023, we've built our plan to assure proper staffing of our key initiatives. But we also know that we must have a mindset of continuous productivity, not just last year, not just this year, but in the years ahead. Still difficult to accurately assess how the year ahead will play out in terms of e-commerce growth. If you ask 20 experts, you get 20 different opinions. Our baseline assumption is that discretionary spend will remain under pressure, and global e-commerce growth will be slightly positive year-over-year. That said, we are seeing signs that inflation is beginning to cool, and it's logical to expect that discretionary spend ve”