WEX has announced a long-term partnership with Booking.com, commencing in April 2024. This accord distinguishes WEX's status as the favoured virtual card provider for Booking.com, reinforcing its commitment to delivering payment solutions that align with Booking.com's vision of streamlining transactions within the travel industry.
Booking.com first became a WEX customer in 2013. Over a decade later, WEX now processes payments for Booking.com across the world. With WEX’s expertise in global virtual card and cross currency capabilities, the longstanding partnership enables a seamless travel experience for travellers and accommodation partners by simplifying transactions as they navigate multiple currencies, borders, and time zones.
Commenting on this collaboration, officials from WEX said that building on years of working together, they remain committed to delivering WEX’s deep expertise in both payments and travel, as well as the reliability of their technology platform, to help Booking.com power its B2B travel payment activities 24/7 and 365 days/year at scale, globally.
Representatives from booking explained that enabling a seamless travel experience for both their travellers and accommodation partners involves navigating multiple currencies, borders, and timezones – which brings complex challenges. They value their long-standing partnership with WEX for its expertise in global virtual card and cross-currency capabilities. Together, they are working to remove friction in payments and enhance their value proposition.
With over 40 years in payments, WEX pioneered virtual payment solutions by building one of the first virtual card programs for travel in 2000. Today, WEX is a leader in travel and corporate payment solutions, with its Corporate Payments segment processing approximately USD 128 billion in total volume in 2023 – which includes purchases on WEX-issued accounts as well as purchases issued by others, but using a WEX platform – and yielding approximately USD 500 million in 2023 revenue.
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