08 July 2016, Atlanta, Georgia: Hotel Booking Solutions, an IBS Software company, has partnered with WEX Inc. (NYSE: WEX), a leading provider of corporate payment solutions, to integrate virtual payments technology into the largest real-time leisure network of hotels and travel retailers. Users of HBSi’s robust channel management and distribution platform, the iDemand Gateway™, will be able to automatically issue single-use electronic card numbers for payment processing, in over 20 currencies, and benefit from an automated reconciliation of post charges.
Hotels are increasingly moving away from the direct bill model and are asking for virtual credit card payments for settlement on a per reservation basis. Many tour operators do not have the time or technical resources to integrate virtual payment technology into their own platform. HBSi has solved this issue by providing an integration to WEX. Any customer booking through the iDemand Gateway™ can pay for the booking with a WEX virtual card; no development effort necessary.
“Innovations to the distribution landscape are a key element in HBSi’s success, and we’re excited about the enhanced capabilities the WEX virtual payments integration adds to our solution," said Peter Krebs, COO - IBS Americas and Head – Hospitality SBU, IBS. "We can now offer lower payment risk and greater back-office efficiencies to our global portfolio with the flip of a switch."
“Our virtual payments solution significantly reduces the burden of payments in the travel industry, and HBSi had the foresight to make it simple for their network to access this innovative technology,” said Renata Caine, WEX Vice President, Virtual Payments. “It’s that kind of forward thinking that makes them a leader in the travel industry.”
About WEX Inc.
WEX Inc. (NYSE: WEX) is a global leader in corporate payment solutions, simplifying the complexities of payments systems across continents and industries. From its founding in Maine in 1983, WEX has grown to serve thousands of businesses around the world. This growth is fueled by WEX’s passion for continuous innovation and for providing a level of service that is unparalleled in the industry. WEX is the payments solution of choice for the largest online travel agencies in the world.