always great to have you on, pascal gauthier, ceo of ledger. we will be back in a moment. bloomberg. ♪ ♪ joe: the popularity of by now, paid later plans could get more popular. shopify will let its merchants let customers shop with by now, pay later plans. >> the stock is 5% higher today after this news. how is this something that can materially help a firm expand among merchants? what details can you give us there? >> shopify is the premier platform on which thousands, millions -- and the majority of large brands actually run -- it is a public platform for a by now, pay later service. we built an extraordinary experience with some of the staff we just released. the speed of and checkout -- check out improved by 30%, and it's up 50%. these are obviously great tools for merchants to build their businesses, to continue growing them. we have a great opportunity here for both the firm and shopify, and shopify's customer base. joe: they had an incredible year , with an explosion of e-commerce in the wake of the pandemic. now we see something people are calling normalization. ha