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that's totally not correct.I don't think you...

  1. 249 Posts.
    lightbulb Created with Sketch. 154
    that's totally not correct.

    I don't think you understand their segment mix of GDV.

    each segment earns a different clip. hence not all GDV was created equally!

    VAN GDV is rocketing from $2.4 billion to $5.5 billion and now $10 billion run rate. but that's clipping 12 bps.

    as a comparison, Gift and incentive is at $1.08B but that earned 627bps.

    there is Zero margin pressure. it's just a different mix.

    what's important is dollar revenue going up and profit margins going up. and all those metrics are accelerating.

 
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