Alex Bean

Yep, that's correct.

But there's a few different ways, right?

You see Brex is starting to launch paid software.

We have paid software.

You know, you make money on the credit side, right?

Fees and things of that nature.

I mean, it's just like a bank.

It's basically asking the question, like, well, how's Amex making money?

And it's like, well, I mean, I think they're making a fair amount of money.

So, you know, even 200 to 300 bips, you start to do the math and you're doing billions of dollars in spend and the revenue starts to add up.

What will GM be this year through the platform?

I don't think that's disclosed, but, you know, we did.

Oh, man, I don't think that's disclosed.

Can you do a range, Alex?

Almost all, I would say majority of that is on interchange.

Yeah, there's definitely elements of that.

But even if you talk to Brex and Ramp, like you're not making most of your money on that, right?

Because again, underwriting just minimizes your losses.

It doesn't actually add you.

If you're really good at underwriting, it doesn't add revenue.