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 »

European Travel Companies Braced For PSD2

The Second Payment Services Directive (PSD2) is set to be transposed into national law by EU member states on January 13th 2018. What does this mean for travel companies operating in the EU? What is PSD2? According to Payments UK, the trade association for the payments industry in the UK, PSD2 is a fundamental piece… 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 »

Time Consuming Manual Payment Processes Challenge Travel Businesses

time consuming payments

Businesses operating within the travel industry are spending a significant amount of time handling payments – even more than you might expect. Recent research conducted by Phocuswright, which was co-sponsored by WEX, investigated the European travel payments landscape and found that businesses are challenged by time consuming manual payment processes. Infographic: How Much Time Does… 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 »

Jim Pratt Talks Paper Reduction in Travel on PaymentsSource

Jim Pratt

Amidst globalization the world of business has been transformed into a cross-currency, cross-border market place. In his article for PaymentsSource.com, Jim Pratt, SVP and General Manager of Virtual Payments at WEX, explores how travel has led the way adopting innovative travel payment solutions to ensure that international payments are handled in a smooth and secure manner… Read more »

5 Reasons Why Travel Suppliers Love Virtual Payments

Virtual Cards Travel Suppliers

The travel industry is being forced to evolve rapidly with economic, political and technological factors all putting increased pressure on businesses. In today’s travel landscape, having the ability to work with the right mix of suppliers is vital to your success in winning customer bookings. As a travel business it is more important than ever… Read more »