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
.

Question: what percent of total revenues was represented by merchant services in 2006?
Answer: 87%
Calculation: divide(788500, 908056)