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trends rate, to fiscal November, January up week payments driver starting government the Weekly XX, XX debit XX. January higher growth stimulus since more show Debit a week on X%. December, the was of fueled in is trends down X through payments credit December slowed XX% has line January January second Moving step distributed the growth sharp us is a growth trend. volume right some perspective in growth XX%, points with and run first points around and quarter, in which U.S. November business three. than growth growing January on with credit Through by declining in step X. with the
to UK, least and January. While such as versus U.S. infections In growth payments Japan, volume slowing points payments slower COVID Italy, at the there countries X growth rise. Germany dollar many In restrictions increased constant countries are Singapore has Europe, is due all growth XX volume X as where in points Denmark, to slowed has accelerated, India Asia-Pacific, and Australia, December. have growth
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were quarter a our incentives point First expectations. client below
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thresholds as volume certain did such many not clients Second, as need did earn told you October, not and year incentives. in XXXX, calendar corresponding we in
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impact step Non-operating what XXXX. rate no similar tax fiscal to exclude elections year. up We quarter, predict expect I second is normal in three expense on is items as investments reductions we of operating It key expenses end taxes. to be if still to million, will implemented the plan to our of the mentioned grow expenses which we change mid-single to prior earlier. $XXX quarter, the low the in early the in growth the to There too return two expectations. our the in half second by approximately, the the on expense fee should to still a digits begin nonrecurring digits you We as is initiatives lap in anticipation in last have U.S. grow double first
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robustly and worst Our added to businesses continued services of new flows the grow through have value the pandemic.
that, we a with our be of growth have accelerating Al initiatives, growth. post-COVID will long-term half in With indicated, Mike. world and on I'll to turn investment stepping the this focused second of the back up anticipation level stayed As in
