asia-pacific acquisition on july 24 , 2006 , we completed the purchase of a fifty-six percent ownership interest in the merchant acquiring business of the hongkong and shanghai banking corporation limited , or hsbc . this business provides card payment processing services to merchants in the asia-pacific region . the business includes hsbc 2019s payment processing operations in the following ten countries and territories : brunei , china , hong kong , india , macau , malaysia , maldives , singapore , sri lanka and taiwan . under the terms of the agreement , we initially paid hsbc $ 67.2 million in cash to acquire our ownership interest . we paid an additional $ 1.4 million under this agreement during fiscal 2007 , for a total purchase price of $ 68.6 million to acquire our ownership interest . in conjunction with this acquisition , we entered into a transition services agreement with hsbc that may be terminated at any time . under this agreement , we expect hsbc will continue to perform payment processing operations and related support services until we integrate these functions into our own operations , which we expect will be completed in 2010 . the operating results of this acquisition are included in our consolidated statements of income from the date of the acquisition . business description we are a leading payment processing and consumer money transfer company . as a high-volume processor of electronic transactions , we enable merchants , multinational corporations , financial institutions , consumers , government agencies and other profit and non-profit business enterprises to facilitate payments to purchase goods and services or further other economic goals . our role is to serve as an intermediary in the exchange of information and funds that must occur between parties so that a payment transaction or money transfer can be completed . we were incorporated in georgia as global payments inc . in september 2000 , and we spun-off from our former parent company on january 31 , 2001 . including our time as part of our former parent company , we have provided transaction processing services since 1967 . we market our products and services throughout the united states , canada , europe and the asia-pacific region . we operate in two business segments , merchant services and money transfer , and we offer various products through these segments . our merchant services segment targets customers in many vertical industries including financial institutions , gaming , government , health care , professional services , restaurants , retail , universities and utilities . our money transfer segment primarily targets immigrants in the united states and europe . see note 10 in the notes to consolidated financial statements for additional segment information and 201citem 1a 2014risk factors 201d for a discussion of risks involved with our international operations . total revenues from our merchant services and money transfer segments , by geography and sales channel , are as follows ( amounts in thousands ) : .

Table: 2007 2006 2005 domestic direct $ 558026 $ 481273 $ 410047 canada 224570 208126 175190 asia-pacific 48449 2014 2014 central and eastern europe 51224 47114 40598 domestic indirect and other 46873 51987 62033 merchant services 929142 788500 687868 domestic 115416 109067 91448 europe 16965 10489 5015 money transfer 132381 119556 96463 total revenues $ 1061523 $ 908056 $ 784331

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Question: what percent of total revenues was represented by merchant services in 2007?
Answer: 88%
Calculation: divide(929142, 1061523)