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 »

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 »

Choose a Strategy for International Payments That Supports Your Business Goals

International Payments image

Making payments always affects a company’s cash flow and corporate budgeting and money management. Doing business internationally inevitably adds further complication with fluctuations in foreign exchange rates having an impact. For companies in the travel industry who often can’t escape paying international suppliers, whether you pay in your currency or your suppliers’, you’ll pay to… Read more »

How FX Rates Affect Travel Businesses and How to Minimize the Risks

FX rates image

Money is money, whether it’s US Dollars, British Pounds, Euros, Thai Baht, Swiss Francs, Norwegian Krone or another currency. But each form of money is only legal tender in certain countries, making conversions from one form to another—foreign exchange—essential to international business. The fluctuations in these exchange rates create risks that businesses need to manage…. Read more »

Americans Go Beyond Borders for Travel

Americans Beyond Borders

Americans are notorious for not using their vacation days. Of those Americans who do take time off, most stay within the US; with fewer than half of Americans having passports, they lack the travel documents needed to travel abroad. Despite those relatively small numbers in the past, there is an increasing trend towards increased overseas… Read more »

Alternative B2B Travel Payment Solutions Answer Industry Call for More Flexibility

Alternative Payments

Players across the global travel industry are grappling with stricter supplier payment terms. Not only is the marketplace becoming more regulated, but TMCs are under pressure to remain profitable amidst decreasing per-booking margins and increased competition. It all makes achieving operational efficiencies and maximizing cash flow more important than ever—and drives the demand for innovative… Read more »

One Size Does Not Fit All When It Comes to a Travel Payment Solution

One Size Does Not Fit All

The travel industry is evolving rapidly with economic, political and technological factors all putting increased pressure on businesses. In order to survive travel companies need to constantly look at the way they operate to ensure that they are equipped to adapt to changes effectively and efficiently. As businesses respond to these challenges, choosing the right… Read more »

How Much Is Your Travel Business Losing on International Payments?

international transaction fees infographic

If you have international suppliers, you may believe that FX mark ups and cross-currency transaction fees are a necessary cost of doing business when paying suppliers in foreign currencies. But have you ever stopped to calculate how much are you really spending? FX rate mark ups and cross-currency transaction fees average 3% on each payment… Read more »

Welcome to WEX Travel Payments Insights!

WEX Travel Payment Insights

Travel payments is a broad, global, and dynamic subject that deserves attention. As a worldwide leader in travel payments, WEX has many subject matter experts that will contribute to our mission of providing customers, partners, and employees with ongoing information, education, resources, and corporate news. Be sure to check back often, or register to have new… Read more »