The continued long-term partnership demonstrates the strength and reliability of WEX's enterprise-grade technology platform, flexibility through co-development of unique travel payment solutions, geographic reach, and deep payment industry expertise.
Portland, Maine, April 25, 2024–(BUSINESS WIRE)–WEX (NYSE:WEX), the global commerce platform that simplifies business operations, today reached a new long-term agreement with Booking.com effective April 2024. announced that it did. With this agreement, WEX will continue to offer WEX payment solutions that support Booking.com's payments vision of making it easy for everyone to buy and sell travel-related products and services. distinguished as a provider.
“With more than 800,000 active customer relationships worldwide, WEX is proud to partner with eight of the world's top 10 online travel agencies, including Booking.com,” said WEX's Chief Executive, International. Director Carlos Carriedo said. “Building on our long-standing partnership, we are pleased to bring Booking.com's B2B travel payments activities 24/7, offering WEX's deep expertise in both payments and travel and the reliability of our technology platform. We're going to continue to work hard to make it even stronger. We're heading into a big year globally.”
Booking.com first became a WEX customer in 2013. More than 10 years later, WEX now processes his Booking.com payments around the world.
“A seamless travel experience for both travelers and lodging partners requires navigating multiple currencies, borders and time zones,” said Daniel Marowitz, senior vice president of fintech at Booking.com. “It involves complex challenges.” “We value his long-standing partnership with WEX, with his expertise in global virtual cards and cross-currency capabilities. Together, we will remove friction in payments and strengthen our value proposition. I am working on it.”
With WEX's expertise in global virtual cards and cross-currency capabilities, our long-standing partnership enables seamless travel by simplifying transactions for travelers and lodging partners as they move across multiple currencies, borders, and time zones. experience becomes possible.
With over 40 years of payments experience, 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 business payments solutions, processing approximately $128 billion in total transactions in the business payments sector. This includes purchases in WEX-issued accounts as well as purchases issued by others using the WEX platform, resulting in approximately $500 million in revenue in 2023.
About WEX
WEX (NYSE: WEX) is a global commerce platform that simplifies business operations. WEX has built a strong ecosystem that provides seamlessly integrated and personalized solutions to customers around the world. Through our rich data and expertise in simplifying benefits, rethinking mobility, and paying and getting paid, WEX helps businesses easily overcome complexity and realize their full potential. That's what I'm aiming for. For more information, please visit www.wexinc.com.
About Booking.com
Booking.com, part of Booking Holdings Inc. (NASDAQ: BKNG), is on a mission to make it easier for everyone to experience the world. By investing in technology that removes friction from travel, Booking.com's marketplace seamlessly connects millions of travelers and delivers memorable experiences every day. For more information, follow @bookingcom on social media or visit globalnews.booking.com.
Forward-looking statements
This press release contains forward-looking statements, including, without limitation, statements regarding WEX's expectations as a result of its continued contractual relationship with Booking.com. All statements in this press release that are not statements of historical fact are forward-looking statements. As used in this press release, the words “anticipate,” “believe,” “continue,” “may,” “estimate,” “expect,” “intend,” and “may” Words such as “plan,'' “project,'' “will,'' “position,'' “confidence,'' and similar expressions are intended to identify forward-looking statements, but do not imply any forward-looking statements. Forward-looking statements do not contain such words. Forward-looking statements relate to WEX's future plans, objectives, expectations and intentions and are not historical facts and are subject to known and unknown risks, uncertainties and actual results or performance under this Agreement. and other factors that may cause them to differ materially from future ones. the results or performance expressed or implied by these forward-looking statements, including changes affecting the services provided by WEX to Booking.com; and Item 1A of WEX's Annual Report on Form 10-K for the year ended December 31, 2023, filed with the Securities and Exchange Commission on February 23, 2024 and subsequent stock exchange filings. and other risks and uncertainties identified in . commission. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release. WEX undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
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contact address
media:
WEX
Julie Lydon, 415-816-9397
Julie.Lydon@wexinc.com
Investor:
WEX
Steve Elder, 207-523-7769
Steve.Elder@wexinc.com
