“But more importantly, we expect margin accretion to emerge over the next few years as well and part of that is these renegotiations.”

In context

“Pay with Venmo. Pay with Venmo is an incredible opportunity for merchants as they now think about the ability to get access to one of the most valuable demographics of young, affluent spenders in the United States. And so again, all of these conversations just continue to build on themselves. And I think, we feel good about the conversations as well. Jamie? Jamie Miller: Yeah. Maybe I'd just add too, a little bit about where we are in the process. We have worked our way through some large renegotiations, which have been really good conversations. But we've got more progress as well in the next couple of years. The agreements are typically multiyear in nature. Some renewals happen earlier than others. But we expect that more visible impact on TPV and revenue over the next several quarters. But more importantly, we expect margin accretion to emerge over the next few years as well and part of that is these renegotiations. But equally, importantly, and you mentioned value-added services, it puts us in a position where in those discussions and following those discussions, the build-out OVAS and how we can bring that to bear in terms of building a much more sticky holistic relationship but one that really improves margin over time, that's a holistic piece of it that we're looking at. And we're already seeing that we have already launched in the third quarter of a really significant new value-added service that has been launched with a big merchant. And it's that kind of thing that we're -- we'll continue to grow. Operator: Your next question comes from the line of Harshita Rawat with Bernstein. Your line is open. Harshita Rawat: Hi. Good morning. I want to follow-up on Fastlane. Good momentum with partnership”