“So from a 2025 guide perspective, we still expect branded checkout TPV to grow about mid-single digits and to have consistent growth from last year into this year with some acceleration with our initiatives, initiatives on top of that.”

In context

“so specific key vertical exposure around travel, crypto, gaming, et cetera. Alex mentioned we are still early in the ramp of our modern checkout experience, and that is certainly something that as we get into '25, we are very, very focused on. Our biggest priorities are really around innovation, driving those improvements in checkout experience. And you mentioned also giving consumers more reasons to choose. So some of the things we've done throughout the year around really improving the app experience, adding rewards, adding different elements to how people can find contacts and things like that, all of that is around engaging the consumer in a different way. And as we talk about internally, really getting the flywheel continuing to move between our consumers and our merchant experience. So from a 2025 guide perspective, we still expect branded checkout TPV to grow about mid-single digits and to have consistent growth from last year into this year with some acceleration with our initiatives, initiatives on top of that. Operator: The next question comes from Ramsey El-Assal with Barclays. Your line is open. Ramsey El-Assal : Hi, thank you for taking my question this morning. As expected, unbranded volumes decelerated again as you pursue the price-to-value strategy. Can you give us your updated thoughts on your sort of confidence level, timing and toolkit to reaccelerate unbranded volume growth at the higher baseline profitability levels as we move forward here? Alex Chriss : Yes. Let me just touch on -- thanks for the question, Ramsey. And let me touch on just how we're -- how these conversations are evolving. So first, again this has been our strategy throughout the year. I'm encouraged to see just another quarter of branded/unbranded Braintree contribution to TM dollar growth. The conversations are con”