Operator: Your next question comes from the line of Sanjay Sakhrani with KBW.
Sanjay Sakhrani: I’ve got a follow-up on the strong travel volumes. I guess as we look through the remainder of the year, what’s the baseline you guys are using in terms of the growth there because it seems quite strong. I’m just seeing some of the decelerating trends elsewhere in cross-border and T&E growth. Just trying to figure out sort of how you guys think about it understanding the strength there. Also, is there opportunity to take share inside of the OTA relationships you have? Or are those contributing as well?
Jagtar Narula: Sanjay. I’ll address the first part of the question and then turn it to Melissa for second part. So we’re basing our travel forecast, triangulating through a few different data points, obviously, in conversations with our customers and what they’re seeing from a bookings perspective for the rest of the year and factor that into our travel forecast. We also look at what did we see on, obviously, Q2, Q3 tend to be the highest quarters for travel. So we look a bit at what did we see in 2019 from Q1 to Q2, Q2 to Q3, right, Q3 to Q4 sequentially and factor that into what have we seen so far this year, what would that imply for the rest of the year. We use those both customer data and that analysis to triangulate to what we expect for the back half of the year.
And like I mentioned earlier, we look at July results and see that we’re pretty on track to what we think is going to happen. So that’s how we’re getting to the volume forecast. I’ll let Melissa talk about the second part of your question.
Melissa Smith: Yes. In terms of share gain, our teams actively are working with our customers on a regular basis to look for volume that could pick up. It may be something that they’re processing internally or something that’s on a competitive platform. and so that’s an active part of how we manage relationships with our customers. One is the — as I say this is one of the longer sales cycles ever, but the sales cycle around expanding from where we’re focused primarily on hotels into other areas within the online travel agencies and particularly looking at air is something that we have seen some elevated interest. And so that would be an opportunity for us if we could pick up more of that volume. We have a little bit, particularly in Europe.
And so it’s an active part of how we manage the relationship. And when we think about these relationships long term, we want to make sure that we’re the trusted partner that they have and that we are working with them actively to move more volume to our platform.
Sanjay Sakhrani: And it’s not — is it significantly contributing to the growth at this point, the share gain or not as much as just the rebound in travel?
Melissa Smith: It is helping, certainly. And I said the rebound in travel is a bigger number of what we’re seeing from a volume perspective, but it’s certainly part of what we’re seeing. When we look at our long-term guidance range, we factored in the fact that this marketplace itself is typically growing in a normal environment at a high single-digit rate. And so our objective would be and always is to try to outgrow what’s happening from a market perspective in any of the segments we’re in.
Sanjay Sakhrani: Okay. Just one quick follow-up question on the acquisition. I noticed that the Ascensus offers some products that you may not be offering presently. So should we expect those would be extended to your existing customers and over what time? And then is there any client overlap here?
