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Posted February 24, 2020

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Travel companies need the best payments technology to create a seamless traveler experience, protect the traveler’s payment information, ensure good supplier relationships, and increase efficiencies.

Payment technology is changing all the time, getting more efficient, and more secure. Technologies such as virtual payments offer additional benefits for travel companies, and new innovative solutions are constantly being developed. Most travel companies know that having the right partner for payments can make a huge difference in simplifying their payment process, reducing their AP workload, and boosting productivity to create a seamless travel experience.

Yet, many companies resist innovation because of the perceived time and cost associated with changing their existing technology, systems, or processes. Well, it does not have to be that way, and in fact, is not if you’re with the right payments partner.

Enter the magic of payment APIs. For companies looking for innovative payment solutions, including virtual payments, APIs open the world of cutting-edge payment products to companies who need to keep their existing payment systems in place while adding scalability, fraud protection, and uptime. 

Take WEX, for example; with one API, you get more choice with over 90 global payment options through our better technology, including top-tier benefits, once onboarded, such as:

  • Quick and easy set up of new payment options without the need for any extensive implementation
  • Flexible APIs that are customizable and can be adapted to your unique needs through simple configuration as your business evolves and changes
  • Industrial Scale technology that processes over $70B in annual volume 

In addition to an easy and smooth implementation process, when working with a virtual payments provider, travel companies should experience advantages that give them a competitive edge in many ways. It’s important to understand whether the payment company you’re working with is investing in future technologies, initiatives, and deliverables that will, in turn, make the long-term investment worth your while. Questions you might consider asking your payments provider are:

  • As a leading technology provider, what types of investments are on your technology roadmap?
  • How are you expanding the payment options to meet my changing business needs? 
  • How do you plan to keep up with fraud protection as cybercriminals become more sophisticated and resourceful?

There’s no excuse for travel companies to use lagging payment technology. Whether to protect customer payments, ensure good supplier relationships, or increase efficiencies, it’s time to upgrade your payments with easy-to-integrate APIs. 

To learn more about APIs and how they can benefit your travel company, email WEXCorporatePayments@wexinc.com.

 

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Ryan Taylor

Ryan has over fifteen years of technology, payment and banking experience with a proven track record of using technology to solve complex business challenges. Prior to joining WEX, Ryan built and led large-scale, business-focused technology teams at Capital One that supported the Treasury Management and Capital Markets lines of business. In the last 2 years, he assembled a team of over 100 engineers and implemented a 100% agile development shop to drive innovation in Corporate Payments. Ryan holds a Masters of Business Administration from Rockhurst, Graduate Certificate in Systems Engineering from Johns Hopkins University, Bachelor’s Degree in Computer Science from DeVry University, and several professional certifications (Certified Treasury Professional, Project Management Professional, & Six Sigma Green Belt). Ryan is a board member for the Boys and Girls Club of Southern Maine (BGCSM) after having merged the resources of BGCSM and WEX to create CodeX, a community program to teach kids coding and expose them to STEM learning.


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