Our virtual travel payment solutions help OTAs, travel agents, and travel companies save money on international payments, reduce accounting workload, and improve supplier relationships.
With WEX Travel, you can:
- Reduce fees. Unlike other forms of payment, there is no per transaction or set-up fee with WEX’s virtual cards.
- Increase efficiency. Automated reconciliation streamlines your workflow and saves you time.
- Improve security. Prevent fraud with transaction level controls, such as location, time, amount, and merchant category.
- Reduce processing time and cost.
- Reduce costs compared to settlement agencies with our broader order-to-payment solution.
At the time of booking, simply request a single-use virtual card number, or VCN. The transaction’s unique number is sent to the supplier and processed just like a traditional credit card, and you can lock down exactly what you want the card to cover.
1. Booking need is established
2. Request / issue single-use VCN
3. VCN sent to supplier
The supplier charges the payment card, and reporting data is sent back to you. Because of the unique card number on each transaction, there are no statements or reconciliation involved. If you’re making a payment to an international supplier, our virtual card product enables you to reduce your foreign transaction fees.
1. Goods delivered or services performed
2. Supplier charges payment card
3. Reporting is provided
How It Works
WEX pioneered virtual payments for the travel industry, and now serves the world’s largest OTAs. We use virtual card technology to increase efficiencies and simplify international transactions.
Virtual cards integrate with your existing payment system seamlessly, so there is no need for additional hardware or software.