What motivates customers of other platforms like Stripe to choose Apto instead of using their native card issuing services?

It all comes down to Stripe making it incredibly easy to get started. The way in which they're able to facilitate that is, every program fits within a certain framework of features and functionality. If that framework works for you and a vanilla program design accomplishes your needs, then it's perfect for you. You click a button, and you can deploy a card. It's great, and I have a lot of admiration for Stripe, as I mentioned. On the flip side, if you have any customizations or bespoke desires, Stripe's not going to be your best partner. Stripe's going to continue to be great for some customers, but not great for others.

I think another one of your questions was, “Are you going to see consolidation or are there going to be a handful of winners?” I think that the industry is big enough for a handful of winners. The challenge for each of us is to establish our own unique positioning and differentiators.