“So just in terms of the shape of the year, I would expect a little bit of decel as we move into the back half.”

In context

“has had exceptional growth, and we have a great ramp of merchant volumes coming on this year with new merchants as well as additional volumes we expect to get from existing merchants. At the same time, just given the exceptional growth we had last year, we do expect a little bit of decel into the back half. I'd also say, given the interest rate environment and how we're currently positioned in our book, we'd expect the incremental benefit from the higher interest rate environment to benefit us more in the first half than the back half as we lap some of those benefits from last year. And so that would create a little bit of decel as well. And then finally, there were some pricing changes that we made in 2022 that were predominantly front-half loaded. And so we start to lap those as well. So just in terms of the shape of the year, I would expect a little bit of decel as we move into the back half. Darrin Peller : That's very helpful. Thanks Dan and Gabrielle. Daniel Schulman : Yeah, you bet, Darrin. Thank you. Operator: Our next question comes from James Faucette from Morgan Stanley. Please go ahead. Your line is open. James Faucette : Great. Thank you very much. Dan, I'll add my thanks, and looking forward to a last final year, man, so it should be fun. I wanted to ask quickly on the branded checkout point. It sounds like you feel like you're kind of growing consistent with the market, if that's accurate and what you're seeing kind of early in the year? And perhaps more importantly, what are you thinking about in terms of when we can start to see some of the improvements impact, maybe share, but more importantly, engagement, et cetera, with the customer base. Thanks. Daniel Schu”