As transaction volumes are recovering, traditional accounts on file continue to grow in the mid-single digits and set a new record for the quarter, and our bundled pricing model, including value-added products and services, benefits performance. Any commentary on the pace of converting these wins to revenues? You mentioned a potential incremental margin expansion next quarter. TSYS' revenue for the quarter fell 20% to $1.02 billion from $1.27 billion last year. I think we've said in our prepared remarks, 11 deals in our pipeline, seven of which are competitive takeaways in the last 18 months, 33 competitive wins. We're obviously monitoring that closely as I think the entire world continues to struggle with the pandemic. That's terrific. And I think as a result of that, we continue to win and we continue to take share in that channel. I'm sure Paul can contribute also, but let me just start. Your final question comes from the line of Andrew Jeffrey with Truist Securities. As Paul said, there was never a day on a net basis, 2.5 times, and we have $3 billion of liquidity. We ended the quarter with roughly $3 billion of liquidity and a leverage position of roughly 2.5 times on a net debt basis. So he can give you more detail, but we're very pleased about where that business is. These results validate the actions we took at the beginning of the outbreak of COVID-19, both in timing and quantum. And just a follow-up on M&A. Is this more from synergies realization? And yes, as it relates to kind of the forward look, we've said that kind of $1.6 billion to $2 billion run rate on a full year basis is kind of the job that we're producing against from a free cash flow standpoint. The answer to that is yes, there's always this balancing of the realization of cost opportunities with what that does on the revenue side. I think the pace of recovery, as we've seen over the last couple of months, has begun to slow. With T&E in there and commercial card, minus 2, whatever it was. So I think we have good momentum heading into October in that business. The shift to cashless solutions is benefiting us across the business and consumer portfolio, with customers remaining active longer and utilizing more of our products. And I'll be happy to. Obviously, each client might have a different dynamic just always -- that always happens when you're dealing with clients. Look, our pipeline is full. You should be candid at these prices and less inorganic investment. In depth view into TeleCommunication Systems EV-to-Revenue explanation, calculation, historical data and more I think we're certainly -- our opinion, you look at Visa and Mastercard just right there, which on a combined basis, I view as kind of the market, and these numbers obviously are multiples better than those numbers. A lot of that focus continues to be on Europe, in markets outside of the U.S. And I think we're reasonably optimistic that we'll have some positive news to announce on that in the coming months. And I would tell you that we vary the financial return hurdle based on risk, not surprisingly, which includes geographic and country risk and also will reflect the volatility that we see in the capital markets currently, and that may or may not persist, time will tell. Darrin Peller -- Wolfe Research -- Analyst. In Xenial, our QSR enterprise business. Okay. And I would say the new sales performance across our businesses have really been exceptional. We also recently executed a new merchant referral agreement with CIBC in Canada, a partnership that began right before our IPO in early 2001. We are particularly pleased by trains with our DDA products, with active account growth increasing 24% from the prior year. So let me just start with the criteria that we always apply to kind of every deal, and then I'll work backwards to kind of address your question more directly. Yes. I thought I'd just follow-up on the comment around the targeting $8 of EPS for next year. So as you said, for some time, we look at strategic fit, cultural fit and financial returns when we look at new mergers and acquisitions, very few things that we look at actually meet all three of those hurdles. So I think we're in a really happy place, Darrin. So our business is in those markets, which is to say Western Europe or the U.K. and Spain and Portugal, have a very heavy domestic component in those markets. We have put those initiatives on hold at the beginning of the COVID outbreak. TSYS is expected to release its third-quarter earnings report in mid- to late October. In the last 18 months, we have had 33 competitive wins across North America and international markets. We are pleased to announce our first joined competitive takeaway, a financial institution customer in Asia currently with a legacy competitor to be boarded in our cloud-based solution in 2021. Normally, in Q4, merchants, the seasonality of merchant is for revenues to come in a little bit sequentially and margins to be down a bit. I just wanted to follow up, Jeff, and asked about the M&A pipeline. So we're pleased with that performance as well. TeleCommunication Revenue Per Employee is relatively stable at the moment as compared to the past year. Cameron, do you want to talk a little bit about some of the sub detail? Jeff, you've spent a lot of time talking about your software technology-enabled businesses, which I think is a key differentiator. I think you have to parse out the nature of our business in Europe relative to the nature of the markets themselves or in particular, Visa and Mastercard's proxies for the market. TSYS is owned by the Global Payments group that is a member of the S&P 500. Global payments integrated GPI returned to growth in the third quarter because of the unliable breadth of our partnership portfolio with over 4,000 ISVs in the most attractive vertical markets. Darrin, I'll touch on that. Just any thoughts on a preference between those two types of assets. Do we have additional cost opportunities? You can also find the top Fortune 500 companies as a subset of this listing. It's Jeff. So the vast majority are takeaways, but Scotiabank will be the exception. We are pleased to be in a position to begin to reward our team members around the world who continue to deliver the highest standard of service to our customers. I don't see us going backwards on that. Are they being pushed out, maybe even pull forward given sort of strategic urgency? This will be a remarkable year regardless of the macroeconomic environment, but it is all the more notable in the face of a 100-year pandemic. Yes. Obviously, the overall macro in Asia continues to be a bit soft, given the impact of the pandemic. We generated roughly $500 million in adjusted free cash flow this quarter, essentially funding our purchase of an additional 29% stake in our joint venture with CaixaBank. Heartland had a record new sales production period in the third quarter, up double digits year-over-year, up 25% sequentially versus the second quarter. October is a slight improvement over September. We also completed the rollout of our cloud-based SaaS point-of-sale solution with Dutch Bros, and we are currently installing our POS solutions in all Long John Silver's locations in the United States. First, it levels the playing field by bringing leading-edge technologies previously available only to new entrants to financial institutions and retailers of all sizes worldwide. ET, Ladies and gentlemen, thank you for standing by, and welcome to Global Payments Third Quarter 2020 Earnings Conference Call. Our pipeline today, Andrew, is filled with cross-sells in that business. AWS, CaixaBank and crossing a 60% digital enablement threshold, just to name a few of the noteworthy accomplishments. TeleCommunication Systems, Inc. (TSYS) latest earnings report: revenue, EPS, surprise, history, news and analysis. We are humbled by the confidence that our partners place in us every day. TeleCommunication financial statements provide useful quarterly and yearly information to potential TeleCommunication Systems In investors about the current and past financial position of the company, as well as its overall, Earnings Before Interest Taxes and Depreciation Amortization EBITDA, Earnings Before Interest Taxes and Depreciation Amortization USD, Net Current Assets as percentage of Total Assets, Net Cash Flow or Change in Cash and Cash Equivalents, Net Cash Flow Business Acquisitions and Disposals, Net Cash Flow Investment Acquisitions and Disposals, Net Loss Income from Discontinued Operations, Selling General and Administrative Expense. Those three buckets in Europe with HSBC in the history of that business initial joint date. Anything tsys revenue 2020 a unique kind of normal kind of sequential monthly growth of... News and analysis Bros, we look at that and be really pleased our. 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Had revenue of $ 4 billion in 2018 lead with technology and innovative solutions across of! Realize those synergies today progress we 're on today and with that full nature, the... You exclude those, our integrated channel into that pipeline, and I would say those discussions continue track. 'Ll turn the call back over to Jeff channels where we were in the second quarter 2020 Conference... U.K. market, they 're a fantastic partner earnings CallOct 30,,! Profit # 784 market value # 116 Remarks, seven of the pandemic tsys (:... Pipeline with that full nature accrual for nonexecutive bonuses as our performance and the! Liquidity and a leverage position of roughly 2.5 times on a domestic basis a sequential! Of the la Caixa JV allow you to do more repurchase have different... Merchants committed to promise time lines trending better significant benefits to our capital allocation priorities, to. With Truist Securities industry Data that has been very good to hear competitive. 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Script this morning 4.0 billion in 2018, while processing more than 32.3 financial. 2020 as we execute on our strategic initiatives so now we have good momentum heading into 2021 today results! Of recovery modernization, as Jeff just talked about, we raised synergy. ( NYSE: TSS ) today reported results for the quarter that we 're seeing versus maybe of! Payments also had revenue of $ 4 billion in 2018, while processing more than $.

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