“So to your point, we do expect some impact from that to start to flow through. And we have embedded some of that in our guide, and we expect it to build over time.”

In context

“y or any other softness? And then just my one quick follow-on would be the exit rate of transaction margin growth ex flows, I think 6%, in the context of this 6% branded. So I'm just curious, when you think of your forecast, is there anything about this fourth quarter growth rate that was unsustainable other than maybe leap year? Otherwise, you're 5%, and I think you've added 5% plus, so it we may capture that. Thanks guys. Jamie Miller : Yes. So first, let us talk about the branded checkout growth in 2025. You were specifically asking about initiatives. And as Alex mentioned, we've got 25% of our U.S. TPV flowing through the most modern checkout experiences at this point. That is something that we expect to scale as we get into '25. And in addition, we are going global with that as well. So to your point, we do expect some impact from that to start to flow through. And we have embedded some of that in our guide, and we expect it to build over time. Having said that, we also think we've prudently planned here. And I wouldn't say, we've explicitly put an overlay for European softness in there. Having said that, we've left ourselves room for to navigate different things because as we roll this out, the impact of how this will flow through may be uneven as we see it. And then Darrin remind me of your second question? It was on TM, but I didn't pick up the exact question you were asking. Darrin Peller : Growth rate, you're at 6% already without any acceleration in the underlying KPI despite all the initiatives you've done. And you're guiding 5% plus -- I guess, 5% plus, right from a non-float impacted. So just making sure there is nothing unsustainable in Q4's exit rate that should inform you on '25's growth. Jamie Miller : Yes. When you”