Revenues

6 Months Ended

Jun. 30, 2021

Revenue from Contract with Customer [Abstract]

Revenues

Revenues

Disaggregation of Revenue

The Company disaggregates revenue from contracts with customers into primary geographical markets, nature of the products and services, and timing of transfer of goods and services. The Company's operating segments are determined by the nature of the products and services the Company provides and the primary geographical markets in which the Company operates. Revenue disaggregated by segment is discussed in Note 16, Segment Information.

In the following tables, revenue for each segment, excluding intersegment revenues, is disaggregated by timing of revenue recognition for the periods indicated.                                                         

	Three months ended June 30, 2021
(In thousands)	Payment Services - Puerto Rico & Caribbean		Payment Services - Latin America		Merchant Acquiring, net		Business Solutions		Total
Timing of revenue recognition
Products and services transferred at a point in time	$	11	$	508	$	—	$	1,104	$	1,623
Products and services transferred over time	26,148		23,491		38,335		59,551		147,525
	$	26,159	$	23,999	$	38,335	$	60,655	$	149,148

	Three months ended June 30, 2020
(In thousands)	Payment Services - Puerto Rico & Caribbean		Payment Services - Latin America		Merchant Acquiring, net		Business Solutions		Total
Timing of revenue recognition
Products and services transferred at a point in time	$	32	$	206	$	—	$	2,765	$	3,003
Products and services transferred over time	19,553		17,887		24,765		52,729		114,934
	$	19,585	$	18,093	$	24,765	$	55,494	$	117,937

	Six months ended June 30, 2021
(In thousands)	Payment Services - Puerto Rico & Caribbean		Payment Services - Latin America		Merchant Acquiring, net		Business Solutions		Total
Timing of revenue recognition
Products and services transferred at a point in time	$	89	$	1,184	$	—	$	3,602	$	4,875
Products and services transferred over time	50,930		46,112		69,202		117,557		283,801
	$	51,019	$	47,296	$	69,202	$	121,159	$	288,676

	Six months ended June 30, 2020
(In thousands)	Payment Services - Puerto Rico & Caribbean		Payment Services - Latin America		Merchant Acquiring, net		Business Solutions		Total
Timing of revenue recognition
Products and services transferred at a point in time	$	37	$	637	$	—	$	3,062	$	3,736
Products and services transferred over time	40,186		37,696		49,886		108,375		236,143
	$	40,223	$	38,333	$	49,886	$	111,437	$	239,879

Contract Balances

The following table provides information about contract assets from contracts with customers.

(In thousands)	June 30, 2021		December 31, 2020
Balance at beginning of period	$	2,796	$	1,191
Services transferred to customers	2,753		3,934
Transfers to accounts receivable	(2,822)		(2,329)
Balance at end of period	$	2,727	$	2,796

The current portion of contract assets is recorded as part of prepaid expenses and other assets, and the long-term portion is included in other long-term assets in the unaudited condensed consolidated balance sheets.

Accounts receivable, net at June 30, 2021 amounted to $93.9 million. Contract liability and contract liability - long term at June 30, 2021 amounted to $23.8 million and $30.7 million, respectively, and may arise when consideration is received or due in advance from customers prior to performance. The contract liability is mainly comprised of upfront fees for implementation or set up activities, including fees charged in pre-production periods in connection with hosting services. Contract liabilities may also arise when consideration is received or due in advance from customers prior to performance. During the three and six months ended June 30, 2021, the Company recognized revenue of $7.1 million and $15.4 million, respectively that was included in the contract liability at December 31, 2020. During the three and six months ended June 30, 2020, the Company recognized revenue of $4.0 million and $9.2 million, respectively that was included in the contract liability at December 31, 2019.

Transaction price allocated to the remaining performance obligations

The estimated aggregate amount of the transaction price allocated to performance obligations that are unsatisfied or partially satisfied at June 30, 2021 is $296.4 million. This amount primarily consists of professional service fees for implementation or set up activities related to managed services and maintenance services, typically recognized over the life of the contract, which varies from 2 to 5 years. It also includes professional service fees for customizations or development of on-premise licensing agreements, which are recognized over time based on inputs relative to the total expected inputs to satisfy a performance obligation.