Virtual Card Numbers Can Help Fight Travel Fraud

Hotel Front Desk

The travel industry is facing a growing fraud threat, particularly from card not present (CNP) transactions. Both consumers and businesses are at risk, but virtual card numbers can present a solution. CNP transactions – those that are processed without a card physically presented to a merchant, such as by phone or online – have become a… Read more »

Build A Strategy For Foreign Currency Transactions

WEX Foreign Exchange

For many travel companies across the globe international supplier payments are a necessary requirement of doing business. But foreign currency transactions come with an inherent risk and potential cost implications. Factors that influence currency market movements Traditionally economic announcements – such as GDP, CPI (inflation data) and unemployment rate updates – have had the biggest… Read more »

Five Things That Top Technology When Choosing a Payments Partner

Handshakes

Payment technologies are constantly evolving, and successful companies know they need a knowledgeable partner to help them keep up with change and to streamline their processes. But with the number of vendors increasing, and the variety of technologies available, it can be hard to determine the best vendor to work with. Is it better to… Read more »

5 Accounts Payable Headaches Travel Companies Can Avoid with Virtual Payments

Businessman

Companies in the travel industry face unique accounts payable (AP) challenges due to the nature of their business. From traditional travel agents, to OTAs, to tour operators, making payments typically involves a large number of suppliers across the globe. Suppliers might include large multinational corporations or small, local vendors in more remote locales. For companies that are… Read more »

Airlines vs Accommodation: How Different Types of Suppliers Are Paid

different suppliers

Having the right travel supplier base is essential for travel companies as it dictates their ability to successfully win customer bookings. When looking at ways to strengthen relationships with suppliers it is important that travel companies understand the impact that different payment methods can have on suppliers. Infographic – Airlines vs Accommodation: How Different Types… Read more »

Challenges of Foreign Currency & Cross-Border Payments for Suppliers

cross border infographic

For the travel company of today catering to the needs and tastes of customers is vital to business success. In order to give customers what they want it is important that travel companies have the right mix of booking options, which means working with the right supplier base. Building strong relationships with suppliers is therefore… Read more »

The Innovative Way to Optimise Cash Flow & Working Capital

optimise cash flow

For companies today managing cash flow and working capital is often a challenge with the need to manage the monetary requirements of your own business against the need to pay suppliers according to agreed timelines. The method you choose to pay suppliers can be crucial in helping you successfully manage these competing needs and can… Read more »

The Right Payment Strategy Is Critical to Travel Brands Post-Brexit

post brexit payments

Barring the unexpected success of any midnight-hour legal challenges to the UK invoking Article 50, the United Kingdom’s decision to remove itself from the European Union will become a reality within the next two years, as leaders from UK and the remaining 27 countries in the EU work toward a hopefully hospitable, mutually agreed upon… Read more »

The Benefits of End-to-End Payments Automation

Payments Automation image

When your payments process is manual, it isn’t only the accounts payables department that feels the effects. Manual processes mean workflows take longer and are error-prone. Data about the process—and about the company’s money—can be difficult to access which means management can’t easily tell how much money is available and where it’s going. On top… Read more »