Global commerce platform and payments specialist WEX has revealed it has reached a new long-term agreement with Booking.com for WEX to be its preferred virtual card provider.
Effective this month, WEX will continue providing payment solutions to help realise Booking.com’s payments vision of making buying and selling travel-related products and services “easier for everyone”.
The two firms have been working together for over a decade, since Booking.com became a WEX customer in 2013. Now, WEX processes payments for Booking.com across the world.
“With more than 800,000 active customer relationships worldwide, WEX is proud to work with eight of the top ten online travel agencies globally, including Booking.com,” said Carlos Carriedo, chief operating officer, International of WEX.
“Building on years of working together, we remain committed to delivering WEX’s deep expertise in both payments and travel, as well as the reliability of our technology platform, to help Booking.com power its B2B travel payment activities 24/7 and 365 days/year at scale, globally.”
Daniel Marovitz, senior vice president of Fintech of Booking.com, said: “Enabling a seamless travel experience for both our travelers and accommodation partners involves navigating multiple currencies, borders, and timezones – which brings complex challenges.
“We value our long-standing partnership with WEX for its expertise in global virtual card and cross-currency capabilities. Together, we are working to remove friction in payments and enhance our value proposition.”
With over 40 years in payments, WEX pioneered virtual payment solutions by building one of the first virtual card programs for travel in 2000. Today, WEX is a leader in travel and corporate payment solutions, with its Corporate Payments segment processing approximately $128 billion in total volume in 2023 – which includes purchases on WEX-issued accounts as well as purchases issued by others, but using a WEX platform – and yielding approximately $500 million in 2023 revenue.
