Leading businesses from around the world rely on WEX to streamline supplier payment processes.
"The WEX Virtual Payment Solutions fits in very well with our business. We were particularly pleased that when we introduced it, the integration with our existing systems was very easy. That meant a great deal in terms of peace-of-mind for our management team"
Chief Financial Officer
WOTIF Group
"When we began talking with the team at WEX, we discovered that there was no installation fee with the WEX Virtual Payment Solution and no ongoing hosting fee. From that point it was all positive and we have been very pleased"
Financial Director
The Travel Corporation
"The implementation of the WEX Virtual Payment Solution has been very straight forward due to the expertise and involvement of the WEX team. They have made everything easy and nothing is ever too much trouble"
Global Product Treasury Leader
Flight Centre Global Product
"We thought long and hard about the virtual card and we are now very pleased with our decision. It has been all upside for us. The bonus is that we now have superior reporting and accounting processes"
Group Finance Operations Manager
Webjet
Case Study - Expedia
Expedia is one of the world’s leading full-service online travel brands, helping travellers easily plan and book travel with a wide selection of travel packages, flights, hotels, rental cars and other travel options.
Business Challenge
Expedia’s credit card network suffered frequent downtime and used recycled card numbers, making reconciliation time consuming and resource intensive. International payments were handled via cheque or bank transfer, exposing the business to loss and fraud.
Given the 24/7 nature of the business, Expedia needed an electronic payment processing solution that was flexible, secure and, above all, reliable. The solution had to offer:
- A truly single-use option – no recycled card or account numbers
- No network downtime, no matter how much daily booking volume varied
- Scalability to keep pace with the growing international business
- Reduced accounting resources and other administrative costs
The Solution
Expedia implemented the WEX virtual payments solution to handle international bookings, which represented around 12% of its business (when the solution was implemented in 2008). This was so successful that, in 2010, Expedia migrated their domestic U.S. business to WEX, increasing total processing spend by 800% – this was implemented and running smoothly within 6 weeks.
Outcomes
- Reduced accounting workload by 3%, even as booking volume increased by 61%
- Fewer cheque and bank transfer payments
- Improved efficiency by uniting domestic and international payments
- Enhanced supplier relationships