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, 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 »

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 »

3 Ways Hotels Benefit From Virtual Payments

Virtual Payments

Since 2000, the travel industry has been discovering the benefits of Virtual Card Numbers (VCNs). Once described as “the future of travel payments,” now the future is here. VCNs are widely used throughout the travel industry, particularly for corporate travel –  and for good reason. The benefits of virtual payments are significant for all parties involved. Hotels that make VCN acceptance a priority can… 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 »

Using Virtual Card Numbers (VCNs) as Part of a Successful Foreign Exchange Strategy

WEX Global Exchange

According to the International Trade Administration, Americans are traveling internationally more than ever, with trips to all areas of the world increasing. As naturally follows, travel companies are taking advantage of this trend, with more companies offering international bookings to new destinations. But for travel companies who are just starting out in the international market,… 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 »