“On the issuing side of the equation, it's going to be a continual -- continuation of kind of what you saw this quarter.”

In context

“on how you're thinking about corporate payments. You mentioned just economic headwinds there. But are you optimistic that we'll see some improvement on the corporate payments side as we had -- as we go into the second half. John C. Stern: Sure. Yes. On the corporate payment side, I think the themes that we saw on the spend levels within the corporate T&E and government spend impacted this quarter. I would anticipate that impact kind of continues into the third. But then after that, I think that abates and we have -- what we'll take over is our initiatives that we have. We have a strong pipeline. You can kind of see that pipeline well in advance of bookings. And so we feel that will be very helpful and positive going forward, but maybe a little bit of short term here in the third quarter. On the issuing side of the equation, it's going to be a continual -- continuation of kind of what you saw this quarter. Obviously, we've lapped many of the prepaid headwinds that we saw. And so the growth rate that you see there is reflective of just kind of where the market is, and that's probably a good marker for where we are in the second half. Gunjan Kedia: And I can just add a little bit stepping back from any 1 of the businesses. Both our payments leaders are now in place, since February, the transformative strategies are very much in place. We are supporting their efforts through this productivity that we are creating in many, many parts of our business. So there's the CPS, the corporate -- while they are -- they're looking at the muted spend this quarter. Their sales pipelines are very, very robust. The product is very attractive in the market. Even merchant is very steadily posting strengthening”