v3.26.1
Revenues
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenues Revenues
As discussed in Note 20 — Segment Information, we determine our operating segments based on how our chief operating decision maker manages our operations, makes operating decisions and evaluates operating performance. Within our segments, we believe that the nature, amount, timing and uncertainty of our revenue and cash flows and how they are affected by economic factors can be further illustrated based on the timing in which revenue for each of our products and services is recognized. Our products and services are only offered to customers within the United States and certain U.S. territories. The following tables disaggregate our revenues earned from external customers by each of our reportable segments:
Note 3—Revenues (continued)
Three Months Ended June 30, 2026
B2B ServicesConsumer ServicesMoney Movement ServicesTotal
Timing of recognition(In thousands)
Transferred point in time$40,182 $65,382 $50,835 $156,399 
Transferred over time399,519 17,651 824 417,994 
Operating revenues (1)
$439,701 $83,033 $51,659 $574,393 
Three Months Ended June 30, 2025
B2B ServicesConsumer ServicesMoney Movement ServicesTotal
Timing of recognition(In thousands)
Transferred point in time$38,581 $68,170 $53,190 $159,941 
Transferred over time298,893 23,030 811 322,734 
Operating revenues (1)
$337,474 $91,200 $54,001 $482,675 
Six Months Ended June 30, 2026
B2B ServicesConsumer ServicesMoney Movement ServicesTotal
Timing of recognition(In thousands)
Transferred point in time$78,519 $130,759 $185,147 $394,425 
Transferred over time770,340 37,014 1,619 808,973 
Operating revenues (1)
$848,859 $167,773 $186,766 $1,203,398 
Six Months Ended June 30, 2025
B2B ServicesConsumer ServicesMoney Movement ServicesTotal
Timing of recognition(In thousands)
Transferred point in time$76,125 $137,428 $165,630 $379,183 
Transferred over time592,260 46,860 1,617 640,737 
Operating revenues (1)
$668,385 $184,288 $167,247 $1,019,920 
(1)
Excludes net interest income, a component of total operating revenues, as it is outside the scope of ASC 606, Revenues. Also excludes the effects of inter-segment revenues.
Revenues recognized at a point in time are comprised of interchange fees, ATM fees, overdraft protection fees, other similar accountholder transaction-based fees, and substantially all of our cash processing revenues. Revenues recognized over time consist of new card fees, monthly maintenance fees, revenue earned from gift cards and substantially all BaaS (as defined herein) partner program management service fees.
As presented on our consolidated balance sheets, we record deferred revenue for any upfront payments received in advance of our performance obligations being satisfied. These contract liabilities consist principally of unearned new card fees and monthly maintenance fees. We recognized approximately $0.5 million in revenue for each of the three months ended June 30, 2026 and 2025, and $2.1 million and $2.7 million for the six months ended June 30, 2026 and 2025, respectively, that were included in deferred revenue at the beginning of the respective periods and did not recognize any revenue during these periods from performance obligations satisfied in previous periods. Substantially all of the deferred revenue balances at the beginning of the respective periods are recognized in the first half of each year. Changes in the deferred revenue balance are driven primarily by the amount of new card fees recognized during the period, and the degree to which these reductions to the deferred revenue balance are offset by the deferral of new card fees associated with cards sold during the period.