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WEX to provide virtual payment solution for Online Travel Agent Logitravel

WEX Europe is a leading provider of payment solutions to the travel industry with a focus on increasing profitability per booking.

LONDON – WEX Inc., a leading provider of corporate payment solutions, announced that WEX Europe has entered an agreement with Logitravel Limited, a major online travel agent (OTA) specialising in holidays and travel products, to provide the WEX Virtual Credit, Debit and Prepaid Solution.

Logitravel, which in 2014 carried more than two and a half million passengers, was founded in 2004 and today offers a wide range of holiday products and services including package holidays, hotels, flights, cruises, rail tickets and car hire at very competitive prices. With the focus on an aggressive price policy, wide range of products and great customer service, Logitravel has become a top travel agency in Spain and Portugal. Today, Logitravel’s operates in Spain, Italy, Germany, Portugal, France, Brazil, UK and Finland.

The WEX Virtual Solution helps OTAs to:

  • Maximise working capital through credit payments
  • Eliminate foreign exchange risk and save money on international payments
  • Automatically reconcile supplier payments
  • Increase profitability by generating rebates

WEX Europe is a leading provider of payment solutions to the travel industry with a focus on increasing profitability per booking. WEX pioneered virtual card numbers in 2000 and 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 allows WEX’s customers to reduce complexity and costs, whilst optimizing supplier relationships and earning rebates on spend.

“The flexibility that the suite of WEX Virtual Payments offers to our business is great as it allows us to optimise our working capital and increase per booking efficiencies,” said Yago Casasnovas, Payment and Fraud Manager at Logitravel. “The reason we chose to work with WEX is so we can focus on our core business which is ensuring our customers get great deals on travel. WEX helps us reduce the complexity of supplier payments and make a difference to our bottom line and will help us grow further and expand our footprint in Europe.”

“We aim to consistently deliver exceptional service to our customers and suppliers and the new technology forms part of a programme of heavy investment in the latest technologies and infrastructure supporting our expanding business model,” said Casasnovas. “The implementation of the new WEX Virtual Credit Solution will have a direct benefit to our supplier relationships and will enable us to continue to offer the best market rates and packages to our client portfolio.”

Myles Stephenson, Managing Director of WEX Europe said: “Logitravel is another great client win for us whilst we’re paving our way further into the European travel market. We’re delighted to be working with Logitravel who use our full suite of virtual cards: credit, debit and prepaid. This unique combination allows them to choose which product is most suitable for each payment and offers incredible flexibility whilst reducing the complexity and cost of supplier payments.”

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Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.

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