WEX
#Yes.
<UNK> what I said on the call is that most of the fleet non-processing revenue 60% of that is related to EFS.
And I would say to you specifically on the other revenue line is materially higher than the 60% is related to the EFS transaction.
There were activity based fees, so we're charging customers for a variety of fees depending on what type of behavior they exhibit.
It's not one specific fee, there's a whole series of them that we've implemented, again, over the last couple of years.
Sure.
We are excited about it obviously.
It's a customer that's already been implemented and the partner is live and when I say implemented typically what happens is that these customers ramp over a series of years.
So it tends to start smaller and then build over a three-year period of time as they go through benefit cycles.
So it will provide revenue contribution into next year which it is not small but it's not huge.
But over the next few years we think it will build into something that's pretty nice.
I'd say similar.
What they're really looking for with WEX Health is the underlying technology platform, the ability to white label in their name.
The ability to do multiple type of offerings on one existing platform.
It's really a similar value proposition that we have to other partners in the marketplace, just a build on the momentum that we already got within that business.
We are really just in the implementation phase in Latin America so we feel pretty good about the fact that they're signing partnerships but they are partnerships that are just in the making right now.
So there's really very little volume that's coming through from that business.
Competitively, they are competing against some of the bigger banks down there and in terms of positioning we feel really good about the positioning.
In part because our business in Brazil is unique within Brazil and the fact that we are a direct MasterCard issuer.
And so it allows them to go into the marketplace with a universal offering, and because we're processing on our own, doing it in a way that is also cost competitive and gives us flexibility in terms of the product set.
It's a marketplace that is relatively new.
Excited, I was going back and forth with our GM down there last night.
Argo is something ---+ he's excited about the potential but because it's so early, we just don't know how big that could be.
Yes so, just to be clear the 7% is not adjusted, it's just an organic growth rate.
If you were to adjust out all of the acquisitions, we would have a 12% growth rate including the fuel price adjustment.
7% just has the acquisitions if you add FX and fuel prices and FX wasn't that meaningful.
But fuel prices was, we would have 12% organic growth.
The number you used for EFS was the fleet component which is about 90% of the revenue.
There's also something a piece that's sitting in our corporate solution segment.
You have the numbers correct.
A piece of the numbers will be as we said before on the revenue side and another piece will be on the cost side.
Yes, so we have been focused over the last couple of years on making sure that we are meeting all of the partner needs.
So we talked about the Esso portfolio migrating in Asia and so we just completed the Asia migration onto our international platform.
And so next in sequence is to migrate the European platform onto our international platform and so we're in the process of completing the final tweaks and expect to start rolling that portfolio over in 2017.
I would say our focus in the healthcare business because we see that there is so much market opportunity, that we have been reinvesting pretty heavily within that business.
Some of that's reinvestment in the implementations of these large customers that are coming through.
Some of that is more in R&D.
We have been more focused with them on the top line and longer-term earnings growth than we have been trying to maximize short-term earnings.
And it's a conversation that we have on a regular basis which is just kind of play out the marketplace, but that's been our primary emphasis point.
I just want to say thank you for once again joining us this quarter and we look forward to speaking to you again next quarter.
