Payments Unit Economics
Q2 2026 · contribution per transaction by rail, region, segment · synthetic data
Net revenue
$113K
157.2 bps of volume
Contribution
$54K
47.9% of revenue
Contribution yield
75.3 bps
Contribution waterfall — quarter
By rail
| Txns | Volume |
Take bps | Contrib bps |
Contrib/txn | Margin |
Fraud bps |
|---|
| cross border | 10,786 | $1,407,074 | 302.5 | 197.0 | $2.5706 | 65.1% | 16.3 |
| ecom credit | 25,244 | $2,046,704 | 153.5 | 50.3 | $0.4079 | 32.8% | 6.0 |
| domestic credit | 34,937 | $2,135,376 | 131.3 | 38.4 | $0.2349 | 29.3% | 4.9 |
| domestic debit | 39,494 | $1,396,119 | 64.7 | 49.4 | $0.1748 | 76.4% | 2.4 |
| tap to pay | 9,539 | $220,142 | 101.0 | 49.6 | $0.1145 | 49.1% | 0.0 |
By region
| Txns | Volume |
Take bps | Contrib bps |
Contrib/txn | Margin |
Fraud bps |
|---|
| north america | 55,450 | $3,608,203 | 155.9 | 71.8 | $0.4674 | 46.1% | 8.6 |
| europe | 28,694 | $1,707,710 | 157.4 | 77.4 | $0.4606 | 49.2% | 5.8 |
| apac | 20,308 | $1,169,133 | 160.0 | 78.7 | $0.4532 | 49.2% | 3.8 |
| latam | 15,548 | $720,370 | 158.9 | 81.7 | $0.3787 | 51.4% | 4.7 |
By merchant segment
| Txns | Volume |
Take bps | Contrib bps |
Contrib/txn | Margin |
Fraud bps |
|---|
| enterprise retail | 33,319 | $2,461,836 | 156.1 | 77.6 | $0.5732 | 49.7% | 4.4 |
| travel | 13,163 | $1,921,584 | 154.1 | 77.8 | $1.1352 | 50.5% | 5.9 |
| smb retail | 28,501 | $1,130,616 | 159.0 | 75.6 | $0.3000 | 47.6% | 6.3 |
| grocery fuel | 20,522 | $919,259 | 161.1 | 63.1 | $0.2828 | 39.2% | 16.5 |
| digital goods | 14,746 | $450,876 | 161.5 | 77.7 | $0.2375 | 48.1% | 3.4 |
| restaurants | 9,749 | $321,245 | 160.7 | 72.4 | $0.2385 | 45.0% | 8.5 |
Mix-shift sensitivity — unit economics held fixed
| Scenario | Blended contrib bps |
Δ bps | Δ contribution |
|---|
| Base | 75.3 | | |
| Cross-border volume 2× | 95.2 | +19.9 | $+27,726 |
| Tap-to-pay volume 2× | 74.5 | -0.8 | $+1,092 |
| E-com credit +50% | 72.2 | -3.1 | $+5,148 |
| Debit → credit shift (−25% / +25%) | 73.8 | -1.4 | $+326 |