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 »

Benefits Of Virtual Payments Add Up For Travel Industry

Virtual Payments

Evolving consumer payment trends are influencing changes in business payments. The increased availability and acceptance of consumer technology has created “back-end innovation” that’s “simpler, and cheaper, for payments companies,” and it’s moving more B2B payments to virtual payments. Last year, acom.com reported that “B2B virtual payment volume will double between now and 2018 and skyrocket… Read more »

How Can Travel Companies Maintain Positive Cash Flow?

Travel companies face continual pressure to maintain positive cash flow, which is necessary to be successful and continue to invest in the business. Seasonal imbalances, late customer payments, and lack of incoming revenue are all common challenges that businesses face that can impact cash flow. A recent report by Xero showed that only 52.1% of… Read more »

3 Benefits Of Using VCNs When Managing Business Travel

Business travel creates unique challenges for travel management companies, corporate travel managers, and travelers alike. For companies who manage hundreds or thousands of bookings each year, the challenges are multiplied. That’s where the use of Virtual Card Numbers (VCNs) can make a huge impact on simplifying payments for travel expenses. The biggest advantages of using… Read more »

3 Ways Blockchain Has Potential to Transform Travel

Luggage Claim

Blockchain, the ledger technology that makes Bitcoin possible, has been a buzzword for years now. The potential seems limitless, but the reality is unclear. In the travel sector, blockchain has been said to be everything from the death knell of OTAs to the decade’s most overhyped trend. The 2017 Payments Pulse survey from WEX showed… Read more »

Winning Customers Online Through Digital Transformation

Young Traveler

International travel across Europe continues to grow, and with it, the potential for growing your business. But with increased growth comes increased competition from suppliers. In order to take your piece of the remaining online market, you need to understand the data and transform your digital presence to win customers online. WEX has put together… Read more »

6 Ways Virtual Card Numbers (VCNs) Can Help You Improve Cash Flow

Cash Flow

Cash flow management is one of the biggest challenges that businesses face. Poorly managed cash flow can lead to, at best, high interest loans to cover the gap, and, at worst, business failure. Small businesses in particular are vulnerable, with 25% of small businesses failing due to cash flow problems. For more established businesses, cash… Read more »

Do We Need Another Word For Innovative? New Tech Popping Up Across Travel

Online Travel Industry

Merriam-Webster defines innovation as “the introduction of something new; a new idea, method or device.” Are evolving technology and commonplace devices (once considered science fiction) changing the meaning to the introduction of something not simply new, but significant too? Whatever your opinion, it’s hard to ignore the ceaseless stream of information about the latest (and… Read more »

Current Payment Practices In The US

E Payments

A mass move to electronic payables, outsourcing, and user experience are topics on CFOs minds, according to a recent survey. The Payments Pulse survey, commissioned by WEX and conducted by Zogby Analytics, asked 500 CFOs nationwide to weigh in on their payment practices and the state of the payments industry. Not surprisingly, CFOs are continuing… Read more »

WEX Findings Mirror State of Disruptive Technology in Travel

Travel Technology

The results of WEX’s first Payments Pulse Survey are in! Designed to identify payment processing practices and views on disruptive technologies, the survey of 500 US CFOs “confirmed what we thought and what we’re hearing from customers,” said Jim Pratt, Senior Vice President, Global Sales & Marketing, Corporate Payments. Pratt acknowledges there were some surprises…. Read more »