Ann: October YTD trading update, page-58

@StefanF As their revenue/TTV % is up over 7%, I think this concern is overstated - whilst pay anywhere gets a lot of coverage both on social media and here, I would say the overwhelming majority of their sales are coming through integrated checkouts at a 4%-6% take. They're announcing integrations with larger merchants on an almost daily basis, which my guess is where the bulk of their sales are coming from. Given the company's revenue/TTV % is materially higher than both APT and SZL we would need to see a significant drop in this percentage, like several hundred basis points, before this was a concern. I also don't think the company is about to torpedo their own margins.