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 »

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 »