The Future of Payments

I do think that there are some adjacencies though, so it's not a direct kind of M&A activity in the payment space. But I think as your nose, underwriting is at the heart of payments and risk. So I think you'll see areas where they come in either to help themselves or be a player in there. There's no question that cash displacement, new business models, moving into emerging markets, acceptance growth will probably triple over the next five years.

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