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Commitments and Contingencies
 6 Months Ended
Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies COMMITMENTS AND CONTINGENCIES
Commitments
The Company has non-cancelable operating leases for office and other facilities in various locations, and certain equipment, which expire through 2031. Future minimum lease payments as of December 31, 2022 are as follows (in thousands):
Fiscal years ending June 30:
Amount
Remainder of 2023
$7,558 
202413,920 
202513,424 
202613,292 
202713,226 
202813,590 
Thereafter35,919 
Gross lease payments110,929 
Less - present value adjustments(19,913)
Total operating lease liabilities, net$91,016 
In addition to the minimum lease payments above, the Company has multi-year agreements with certain third parties and financial institution partners, expiring through 2029, which require the Company to pay fees over the term of the respective agreements. Future payments under these agreements as of December 31, 2022 are as follows (in thousands):
Fiscal years ending June 30:
Amount
Remainder of 2023
$16,991 
202415,372 
202510,755 
20265,329 
20275,241 
20285,491 
Thereafter29,250 
Total$88,429 
Purchase of Card Receivables that have not Cleared
The Company is contractually obligated to purchase all card receivables from the Issuing Banks including authorized transactions that have not cleared. The transactions that have been authorized but not cleared totaled $21.2 million as of December 31, 2022 and have not been recorded on the accompanying consolidated balance sheets. The Company has credit exposures with these authorized but not cleared transactions; however, the expected credit losses recorded were not material as of December 31, 2022.
Litigation
From time to time, the Company is involved in lawsuits, claims, investigations, and proceedings that arise in the ordinary course of business. The Company records a provision for a liability when management believes that it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. As of December 31, 2022 and June 30, 2022, the Company’s reserve for litigation is immaterial. The Company reviews these provisions periodically and adjusts these provisions to reflect the impact of negotiations, settlements, rulings, advice of legal counsel, and other information and events pertaining to a particular case. Litigation is inherently unpredictable.