WEX Signs Agreement with Leading Online Travel Platform Booking.com

WEX (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today announced that it has reached a new long-term agreement with Booking.com, effective April 2024. This agreement distinguishes WEX as Booking.com’s preferred virtual card provider as it continues providing WEX payment solutions in support of Booking.com’s payments vision to make buying and selling travel-related products and services easier for everyone.

“With more than 800,000 active customer relationships worldwide, WEX is proud to work with eight of the top ten online travel agencies globally, including Booking.com,” said Carlos Carriedo, WEX’s Chief Operating Officer, International. “Building on years of working together, we remain committed to delivering WEX’s deep expertise in both payments and travel, as well as the reliability of our technology platform, to help Booking.com power its B2B travel payment activities 24/7 and 365 days/year at scale, globally.”

Booking.com first became a WEX customer in 2013. Over a decade later, WEX now processes payments for Booking.com across the world.

“Enabling a seamless travel experience for both our travelers and accommodation partners involves navigating multiple currencies, borders, and timezones – which brings complex challenges,” said Daniel Marovitz, Senior Vice President of Fintech at Booking.com. “We value our long-standing partnership with WEX for its expertise in global virtual card and cross-currency capabilities. Together, we are working to remove friction in payments and enhance our value proposition.”

With WEX’s expertise in global virtual card and cross currency capabilities, the longstanding partnership enables a seamless travel experience for travelers and accommodation partners by simplifying transactions as they navigate multiple currencies, borders, and timezones.

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 $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 $500 million in 2023 revenue.