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WEX teams up with Booking.com as their top virtual card provider to streamline travel payments starting April 2024.
WEX, a leader in global commerce platforms, has been selected as Booking.com’s preferred provider for virtual cards, aimed at streamlining the transaction process for travel-related purchases.
Beginning in April 2024, WEX will initiate a strategic alliance with Booking.com, solidifying its role as the preferred provider of virtual card services. This partnership underscores WEX’s dedication to enhancing payment solutions that are well-aligned with Booking.com’s goal to facilitate easier transactions in the travel sector.
Enhancing Travel Transactions
Booking.com partnered with WEX for the first time in 2013. More than ten years later, WEX is now handling worldwide payments for Booking.com. Thanks to WEX’s proficiency in managing virtual cards and transactions across various currencies, this enduring relationship promotes a smooth travel experience for both travelers and accommodation providers by easing financial operations across different currencies, borders, and time zones.
WEX representatives expressed enthusiasm about continuing to leverage their extensive experience in payment and travel solutions, alongside the robustness of their technological platform, to support Booking.com’s business-to-business travel payment processes, ensuring continuous operation throughout the year on a global scale.
Booking.com officials highlighted that their efforts to provide a frictionless travel experience for both travelers and partners require overcoming challenges associated with multiple currencies, borders, and time zones. They appreciate their prolonged collaboration with WEX, which brings critical expertise in handling global virtual cards and multi-currency transactions. Together, they strive to simplify payment processes and strengthen their service offerings.
WEX, with a history spanning over 40 years in the payments industry, developed one of the first virtual card programs for the travel sector in 2000. As of 2023, WEX leads in travel and corporate payment solutions, processing about USD 128 billion in total volume, which includes activities on both WEX-issued accounts and those utilizing WEX platforms, generating around USD 500 million in revenue for the year.
The post WEX Partners with Booking.com to Revolutionize World Travel Payments appeared first on Travel And Tour World.
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