Business travel agencies, such as the ArrangeMY Group, use WEX Virtual Card Numbers (VCNs) to handle batch payments for hotel billbacks for free and maximise working capital through credit payments.
LONDON – WEX Inc., a global provider of virtual payment solutions, announced that WEX Europe has entered an agreement with ArrangeMY Group, one of the most respected independent business travel agents in the UK, to provide the WEX Virtual Credit Solution.
The ArrangeMY Group has been serious about travel for 25 years and is an experienced and award-winning business travel agency that focuses on first class customer care for professional travellers. The company offers travel, accommodation, venue finding and event management services both as a fully managed integrated solution as well as individual services based on the client’s need. In addition to the full agent service, the ArrangeMy Group offers its customers an award winning online booking tool for rail, flights and accommodation.
Business travel agencies, such as the ArrangeMY Group, use WEX Virtual Card Numbers (VCNs) to:
- Handle batch payments for hotel billbacks for free
- Maximise working capital through credit payments
- Eliminate foreign exchange risk and save money on international payments
- Automatically reconcile supplier payments
- Increase per booking profitability by generating rebates
WEX Europe is an expert provider of payment solutions to the travel industry with a focus on increasing profitability per booking. Virtual card numbers were pioneered by WEX in 2000 and it has a strong foothold in the travel industry with an extensive and global customer base. The unique combination of credit, debit and prepaid virtual cards in Europe allows WEX’s customers to reduce complexity and costs, whilst optimising supplier relationships and earning rebates on spend.
Nick Scott, Managing Director of ArrangeMy Group said: “We are delighted to be working with WEX Europe who demonstrated an immediate understanding of our business requirements and proposed configurable solutions specific to our processes.”
Gavin Poole, Finance Director of ArrangeMy Group, added: “The ability to replace our BACS solution with a batch Virtual Card Number solution enables us to qualify for a rebate. Using WEX VCNs for supplier payments to hotels, which formerly was a cost centre for us, has become a profit centre and a true win-win situation for our business. ”
Myles Stephenson, Managing Director of WEX Europe said: “It’s great for us to be able to add ArrangeMY Group to our portfolio of clients: we have a lot of experience in the business travel sector and are excited to be working with such an established industry player. The ArrangeMY Group was via a personal recommendation from an existing customer which is the best compliment that we, as the WEX Europe team, can get. Our continued focus to help travel companies pay and manage their suppliers with our virtual suite of products is gaining further momentum with the signing of the ArrangeMY Group.”
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She holds a Bachelor's degree in Communication & Mass Media from Panteion University of Political & Social Studies of Athens and she has been editor and editor-in-chief in various economic magazines and newspapers.
