The partnership will focus on virtual payments methods for different transaction types across the hospitality industry. As companies continue to focus on digitizing payments, virtual methods will be integral to industry partners and will allow a more secure payments process, in this case benefiting both hotels and travel companies, said Mark Dubrow, Onyx CenterSource CEO.
"The extensive product portfolio and global reach of WEX, combined with their experience in the travel and hospitality market as well as other verticals, made them an attractive partner," Dubrow said. "We are confident that this partnership will extend our capabilities to better serve our clients."
Heather Andrews, WEX vice president, Corporate Payments, said: "WEX is delighted to be partnering with Onyx CenterSource to drive automation in the travel industry by removing friction from B2B payments while allowing for payment flexibility. COVID-19 has accelerated the digitization of payments as companies look for efficiencies to return to growth, and Onyx is leading the charge in the hospitality space. Together, we will look to continue to simplify payments for customers using a secure and proven supplier payments solution."
WEX uses virtual payments to streamline and automate international and domestic supplier payments for a diverse range of businesses, including some of the world's largest online travel agencies. The company pioneered virtual payments in 2000 and has a strong global foothold with an extensive customer base in North America, Europe, Asia, Australia and South America.
To learn more about virtual payments, contact Onyx at www.onyxcentersource.com/get-started/.
Onyx CenterSource is a leading global provider of B2B payments and business intelligence solutions to the hospitality industry. The company strives to build long-lasting relationships with its partners and is passionate about providing quality customer service, consultative insight and cost-effective solutions. With a legacy dating to 1992, the company facilitates in excess of $2.1 billion in payments annually, partnering with more than 150,000 hotel properties and 200,000 travel booking providers in 160 countries. In addition to its headquarters in Dallas, Onyx CenterSource has regional hubs in Seville, Spain, and Tønsberg, Norway.
Powered by the belief that complex payment systems can be made simple, WEX (NYSE:WEX) is a leading financial technology service provider across a wide spectrum of sectors, including fleet, travel and healthcare. WEX operates in more than 10 countries and in more than 20 currencies through more than 5,000 associates around the world. WEX fleet cards offer 14.9 million vehicles exceptional payment security and control. Its purchase volume in travel and corporate solutions grew to $39.6 billion in 2019. The WEX Health financial technology platform helps 390,000 employers and 31.8 million consumers better manage healthcare expenses. For more information, visit www.wexinc.com.