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Key Revenue Recognition Questions Every Paytech Company Needs to Answer

Key Revenue Recognition Questions Every Paytech Company Needs to Answer

The payment services landscape has always posed regulatory challenges. From PCI-DSS to complying with BSA rules, paytechs have always invested resources into following the law. However, revenue recognition might be the most challenging process paytechs deal with.

More than recurring revenue firms, paytech companies find ASC 606 (the IRS revenue recognition guidelines) tough to decipher. While revenue recognition software automates several aspects of these workflows, it doesn’t always aid in analyzing base conditions.

Factors like principal versus agent and the nature of goods delivered blur in the payment services world, leading to challenges. Here are four questions that every paytech finance leader must have answers to before recognizing revenue.

Who is the customer?

ASC 606 defines a customer as an entity that orders goods and services in line with the seller’s ordinary activities. For some payment processors, identifying a customer is straightforward. Merchants are usually the customer, since they’re the ones requiring payment processing services.

However, other payment processing entities can find themselves in a gray zone. For instance, a payment facilitator (payfac) entering a contract with an independent sales organization (ISO) might find answering this question a bit tricky. The ISO resells the payfac’s product, but who is the customer here? Is it the merchant or the ISO?

In most cases, payfacs tend to earmark the ISO as a customer, but this arrangement needs special examination if the payfac delivers support services directly to merchants.

A similar scenario arises if a payfac integrates with an independent software vendor (ISV.) The ISV facilitates payments for individual merchants on its platform, and merchants reach out to the payfac directly when issues arise. Is the ISV or the merchant the customer in this case?

Practically speaking, payfacs tag ISVs and ISOs as their customers, but it’s recommended that finance teams turn to experts for help in determining if their business conditions might throw this arrangement awry.

What are the promised goods and services?

On the surface, identifying the specified goods and services is simple. However, a paytech’s choices in identifying them have a knock-on effect on the remaining guidelines in ASC 606.

As a result, classifying services becomes challenging in a hurry. For instance, some payment processors facilitate access to the acquiring bank, acting as a payment gateway. In this case, the gateway is clearly the service offered.

However, many processors also act as an outsourced payment tech stack, offering everything from infrastructure to transaction clearing. In this case, they bill clients for these services as a package. However, per ASC 606’s requirements, recognizing services as part of a bundle isn’t so straightforward.

The guidelines state that each service must be distinct and separately identifiable to qualify as a separate service. Is preauthorization distinct from authorization? Is batching distinct from routing? Probably not, since no customer prefers one without the other, failing the “distinctiveness” test.

Paytechs can recognize these features as combined services, but this puts them in a different position when identifying as a principal or agent (as we’ll detail below), and that complicates revenue recognition.

In short, paytechs must tread carefully with this ASC 606 guideline since their choices here have knock-on effects down the road. While identifying services is simple, choosing to recognize them as distinct ones or a bundle is a task for a person with revenue recognition expertise.

Is the platform the principal or agent?

Principal and agent determination is likely the most important aspect of a paytech’s revenue recognition workflow. The company’s choice directly impacts the revenue it records on its income statement. Briefly, companies acting as principals record gross revenue earned from the service on their books.

A principal paying fees to other parties in the ecosystem will recognize that money as the cost of goods sold (COGS). In contrast, agents record net revenue earned from the service as total revenue earned on their books. Using the same example, a principal will deduct fees paid to other entities from top-line revenue and record that number as total revenue on its books.

This choice significantly affects revenues since the difference between gross and net revenue earned from a service is significant.

At first glance, paytechs might be tempted to tag themselves as principals and recognize their services as a bundle. However, the IRS mandates that principals control every aspect of the service they deliver. Does a paytech really control authorization workflows, or does the acquiring bank do so? Most payment industry professionals will say the bank controls authorization, along with prices in that workflow.

Faulty recognition at this point will lead to hefty fines. Paytechs must use the services of qualified auditors to help them navigate this choice, since it heavily impacts their bottom lines.

What are the performance obligations?

Identifying performance obligations lies downstream from the principal versus agent question.

The two questions are directly tied to each other, and many auditors consider the issues to be two parts of the same criterion. However, there are a few distinct points to warrant making this a separate criterion.

For starters, companies acting as principals must tag services they fully control as a combined performance obligation, recognizing the gross revenue they receive from it. When acting as an agent, the company must identify distinct services, tag them as separate performance obligations, and record net revenue.

Often, paytechs will run into issues at this step. Their distinct service might not stand out as a performance obligation due to timing and delivery modes, leading to revenue recognition confusion.

As always, using the services of a highly qualified auditor is critical to getting this step right.

Getting revenue recognition right is critical to growth

Revenue recognition for paytechs is far more complex than other businesses due to the nature of services offered. Paytech firms must walk themselves through the questions above with the help of a qualified professional to determine where they stand.

This article was written by FM Contributors at

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Market Outlook for the Week of 4-8 December

Market Outlook for the Week of 4-8 December

Last week was marked by the RBNZ’s decision to maintain its official cash rate, which was interpreted as a hawkish stance by the market. Furthermore, they revised their rate projections, indicating that “if inflationary pressure were to be stronger than anticipated, the OCR would likely need to increase further.”

In the U.S., Fed’s Waller made some dovish comments hinting at potential rate cuts. It will be interesting to watch in the coming weeks if other Fed members share the same perspective, and particularly if Chair Powell does as well. I believe Powell will be reserved with expressing such views for now.

Looking ahead to this week, several important economic events are on the horizon.Monday kicks off at a slow pace, with ECB President Lagarde scheduled to discuss monetary policy at the Academy of Moral and Political Sciences in Paris.

Tuesday brings notable releases, including the Tokyo Core CPI y/y for Japan; the RBA policy announcement and cash rate for Australia; the Final Services PMIs for the eurozone and the U.K.; and the ISM Services PMI for the U.S. Additionally, the FOMC Financial Stability Report is scheduled, and New Zealand will report Employment Change q/q and the unemployment rate.

Wednesday features Australia’s GDP q/q, the ADP Non-Farm Employment Change for the U.S. and the BoC rate statement and Overnight rate for Canada. BoE Gov Bailey will also hold a press conference on the Financial Stability Report in London.

Thursday’s highlight is the Unemployment Claims report for the U.S., while Friday will see other important U.S. data releases, including the average hourly earnings m/m, the Non-Farm Employment Change, the Unemployment Rate, the Preliminary UoM Consumer Sentiment and the Preliminary UoM Inflation Expectations.

The consensus for the Tokyo Core CPI y/y is a drop from 2.7% to 2.4%. This is still a bit above the BoJ’s target, but not unusually high compared with other economically developed countries. However, analysts argue the spike in last month’s inflation data was likely caused by volatility in fresh food prices and fewer subsidies for utilities in October. For this print, the downtrend should resume as fresh food prices moderated last month and signs point to processed foods and manufactured goods prices also having peaked.

At this week’s meeting, the RBA is expected to maintain rates unchanged. Australia experienced lower-than-expected inflation figures for October, suggesting no immediate need for the RBA to act. There are currently no signs that inflation might surge again making another rate increase now, after the 25bps hike in November, very unlikely. However, analysts believe that another hike might be possible in February if the base effects prevent inflation from continuing to decline. The RBA will have sufficient data until then to assess whether the current rates are adequate.

The consensus for the U.S. ISM Services PMI is to rise from 51.8 to 52.5. The Fed’s tightening did not slow down demand in the services sector which still remains in expansionary territory. Last month, the index dipped to 51.8, indicating a somewhat slower increase, but consumers continue to spend on services with personal services expenditures having climbed higher for 20 of the past 21 months, according to Wells Fargo.

The U.S. ADP Non-Farm Employment is expected to rise from 113K to 120K. However, this report is not supposed to create any volatility in the market, unless it deviates a lot from expectations. Everyone will be waiting for Friday’s jobs data for more clarity on the labor market.

The BoC monetary policy announcement will be one of the most awaited events of this week. While the consensus is for the Bank to maintain its overnight rate unchanged, market participants will be looking for any hints regarding future decisions. The BoC might look to guide the market away from pricing in rate cuts for the beginning of next year. Although inflation data has moderated recently, it might be too early for rate decreases and the bank will likely want to wait for more data.

The most notable event on Thursday will be the unemployment claims in the U.S. which are expected to rise from 218K to 221K. Last month’s jobs data — 150K new jobs compared to 297K in September — pointed to a labor market slowdown which had been widely anticipated since the Fed started its tightening cycle. The consensus for non-farm employment change in November is a rise from 150K to 185K but analysts from Well Fargo expect even higher growth (230K). However, this spike is likely fueled by the end of the UAW and Hollywood’s actors strike as well as a late survey timing which will capture more seasonal holiday hires. Overall, they expect for softening labor demand to remain a theme moving forward.The average hourly earnings are expected to increase by 0.3% from prior 0.2% and the unemployment rate to remain unchanged at 3.9%.

For the Prelim UoM Consumer sentiment expectations are for a rise from 61.3 to 62.0. This will be a slight improvement, but consumers remain concerned about current and future conditions and this was reflected in last month’s print when the index dropped to 61.3.

What worries consumers most is the possibility of rising gas prices and inflation running hot again. Consumer year-ahead inflation expectations rose to 4.5% in November despite inflation currently receding suggesting that price increases coupled with higher interest rates will remain top of mind for some time.

USD/CAD expectations

On the H1 chart the pair closed the week near the 1.3480 level of support. From there a correction is expected until 1.3580 or even 1.3655 and if those resistance levels don’t hold, the next target could be 1.3420.

On the upside, the next resistance levels are at 1.3730 and 1.3815.

From a fundamental standpoint, the latest U.S. labor market has been softening. This isn’t favorable news for the USD, but it is likely to bolster the CAD in the short term. Compared to the U.S., recent jobs market data for Canada surpassed expectations, contributing to the CAD’s strength, especially over the past week. It’s important to note that this week will bring a substantial amount of new data for both the USD and the CAD.

Analysts at Citi point out that even if employment data for Canada printed above expectations, full-time job additions were not unusually high for the month and not enough to counter the substantial growth in population, which is why the unemployment rate continued to rise.

This article was written by Gina Constantin.

This article was written by FL Contributors at

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Yen risks and wins. Forecast as of 04.12.2023

Yen risks and wins. Forecast as of 04.12.2023

The uptrend in the US dollar against the Japanese yen looks so strong that hedge funds and insurance companies do not believe it will reverse. They say that the Bank of Japan will not raise interest rates when others cut borrowing costs. Let us discuss the Forex outlook and make up a USDJPY trading plan. FundamentalJapanese yen forecast for six months Which is right, markets or central banks? Numerous stories of the Fed punishing investors for their overconfidence during the current monetary tightening cycle have made them wary of market signals. However, as we know, those who don’t take risks don’t… Read full author’s opinion and review in blog of #LiteFinance

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BTC Price Predictions and Analysis: Bitcoin Price Breakout!

BTC Price Predictions and Analysis: Bitcoin Price Breakout!

Bitcoin, the most famous cryptocurrency in the world, breaks a price record again! The coin set a new all-time high of $68789.63 on November 10, 2021. BTC updated its previous record of $66,930.39 on October 20, 2021. 2021 was a turbulent year, both inside and outside the Bitcoin scene. Time for a brief look back: what big things happened in the world of Bitcoin, and how did this beautiful record market price come about? And what can we expect from the crypto-king next? Will  Bitcoin go up even more? Let’s find out in our Bitcoin coin review! Bitcoin in Short… Read full author’s opinion and review in blog of #LiteFinance

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Short-term analysis for oil, gold, and EURUSD for 01.12.2023

Short-term analysis for oil, gold, and EURUSD for 01.12.2023

I welcome my fellow traders! I have made a price forecast for the USCrude, XAUUSD, and EURUSD using a combination of margin zones methodology and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders. The EURUSD reached support (В) 1.0891 – 1.0878 yesterday. Oil price forecast for today: USCrude analysis The oil price dropped at the US trading session yesterday and broke out support (А) 76.30 – 75.97. However, the short-term trend remains up. The price could go down to support (В) 74.65 – 74.15 today. When the price reaches support (B), one could enter new purchases with… Read full author’s opinion and review in blog of #LiteFinance

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Geopolitical Currents: Shaping Global Finance and Climate Action

Geopolitical Currents: Shaping Global Finance and Climate Action

In the complex world of global finance, recent insights shed light on critical developments intersecting climate change and economic strategies. This exploration aims to dissect shared themes and nuances, offering readers a nuanced perspective on the convergence of environmental policies and economic considerations.

Crafting a Green Narrative for a Sustainable Future

The challenges faced by leaders in building a persuasive narrative for
the green transition are brought to the forefront. The emphasis is on
articulating the ethical and economic facets of embracing sustainability,
echoing sentiments from a separate discourse that underscores the importance of
carbon pricing
in driving rapid decarbonization.

However, beneath these commonalities lie nuanced differences.

The Delicate Balance: Urgency and Economic Realities

Discussions reflect the delicate equilibrium between the urgency of
decarbonization and the economic concerns of citizens. Hesitancy within certain
regions mirrors the tightrope leaders walk—envisioning a green future while
navigating economic anxieties.

Global Momentum: The Shift Toward Sustainable Finance

The global acknowledgment within industries of an inevitable shift is
highlighted. The “writing on the wall” suggests an industry preparing
for a paradigmatic transformation. The emphasis on the peak of oil and gas
consumption aligns with commitments to triple renewables, indicating momentum
toward sustainable energy solutions.

Financial Services: Aligning Investments with Sustainability

Considering these narratives, it’s imperative to explore implications for
financial services. Proposed bans on financing coal-powered plants signify
proactive steps aligning financial interests with environmental sustainability.
This aligns with a broader trend where investors increasingly prioritize
environmentally conscious projects. The push for carbon pricing amplifies this
shift, providing a financial incentive for industries to adopt cleaner

Geopolitical Dynamics: Shaping Finance and Climate Action

The global financial landscape is undeniably shaped by geopolitical
considerations. Hints at tensions between global powers and ongoing instability
influence the success of global climate efforts, as seen in delicate
negotiations on climate-related funds.

Financial sectors must navigate these
geopolitical currents, understanding their potential impact on investment

Conclusion: Reshaping Finance through Environmental Responsibility

In summary, the convergence of economic interests and environmental
imperatives is reshaping the financial services landscape. A region grapples
with crafting a persuasive narrative, balancing the urgency of climate action
with economic concerns. Simultaneously, global consensus leans toward carbon
pricing as an effective tool for steering industries toward decarbonization.
Financial analysts must remain vigilant, understanding the nuanced dynamics at
play as we traverse this critical juncture where finance and environmental
responsibility intersect.

This article was written by Pedro Ferreira at

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ATFX Ranks 4th Globally on MT4/MT5 Volumes, Reached $852.3 Billion in Q3

ATFX Ranks 4th Globally on MT4/MT5 Volumes, Reached $852.3 Billion in Q3

ATFX, a leading global online trading broker, has achieved a groundbreaking milestone in the third quarter of 2023. According to the recently issued Finance Magnates Q3 Intelligence Report, ATFX has surpassed a total trading volume of over $852.3 billion, securing the fourth position globally and surpassing its record from the previous quarter.

The report reveals the remarkable growth ATFX has experienced in trading volumes using the MT4/MT5 platforms, with an impressive 60.51% compared to the previous quarter (QOQ), and an astonishing 88.15% compared to the same period last year (YOY). This demonstrates ATFX’s dedication to delivering exceptional trading services and its ability to meet the evolving needs of its clients.

The report also highlights an increase of 6.67% in active users, further indicating ATFX’s ability to attract and retain a growing client base. This achievement showcases the trust and confidence that traders have in ATFX as their preferred online trading services provider.

In terms of product trends, ATFX’s precious metals category has witnessed phenomenal growth, with an increase of 81.63% QOQ and an astonishing 166.43% YOY. This surge can be attributed to the strong demand for safe-haven assets during uncertain market conditions.

The currency pairs category has also shown robust growth, with a 31.72% increase in QOQ and a substantial 30.15% increase in YOY. This indicates the growing interest of traders in forex trading and the diverse opportunities offered by ATFX in this market.

Furthermore, the indices category has experienced impressive growth, with a 31.56% increase in QOQ and a notable 15.24% increase in YOY. This suggests a strong appetite for index trading among ATFX’s clients.

The growth in the stocks category has been remarkable as well, with a 67.80% increase in QOQ and an impressive 54.55% increase in YOY. This growth can be attributed to the rising popularity of individual stock trading and ATFX’s extensive offering in this area.

Lastly, ATFX’s energy category has witnessed a steady growth of 22.70%, indicating the continued interest of traders in energy commodities and ATFX’s ability to meet their trading needs in this market.

ATFX’s exceptional performance in the third quarter of 2023 and its remarkable rankings globally on MT4/MT5 volumes are a testament to its commitment to delivering outstanding trading experiences to clients worldwide. Through continuous innovation, strict regulatory compliance, and a comprehensive range of tradable instruments, ATFX has firmly established itself as a top choice for traders looking for reliable and sophisticated trading solutions.

About ATFX

ATFX is a global award-winning online trading broker, offering a wide range of trading instruments, including currency pairs, CFDs, indices, commodities, and more. With its local presence in multiple regions worldwide, ATFX provides outstanding trading experiences to clients from all walks of life. By prioritizing customer satisfaction, innovative technology, and strict regulatory compliance, ATFX continues to gain recognition as a trusted partner for traders seeking professional and reliable trading services.

(ATFX Website:

This article was written by FM Contributors at

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