LONDON--(BUSINESS WIRE)--
WEX Inc. (NYSE: WEX), a leading provider of corporate payment solutions, today announced a new virtual payments agreement with HitchHiker GmbH. HitchHiker specialises in content aggregation as well as online booking and ticketing solutions for traditional and online travel agencies, tour operators, consolidators, travel management companies and airlines. With the agreement in place, mutual customers are able to benefit from virtual debit, prepaid and credit cards which can be pre-funded or using a credit line and are available in 24 billing currencies.
Ian Johnson, Commercial Director, Virtual Payments, WEX Europe, said, “At WEX we see great opportunity for our payments and new technology solutions in Europe. We have been expanding rapidly into new markets over the last few years and focus on providing our customers with more powerful and effective solutions. Germany is a key market for us and having HitchHiker, a leading innovator in the travel technology space, working with us is a huge gain for our business and our mutual customers.”
Thomas Boffo, Managing Director, HitchHiker, said, “In our role as aggregator of flight content from Global Distribution Systems, airline direct connects, global flight wholesalers, and other third party content providers, it has become vital to be able to offer a breadth of cost efficient and safe payment options which our customers can manage according to their business requirements. For our customers across the globe virtual payments have become the preferred method of payment, offering benefits such as reduced risk of fraud and misuse which conventional company cards cannot offer. Through our agreement with WEX our mutual customers will benefit from an increased cash flow through the credit funding option.”
Pioneered in 2000, WEX virtual payments are available in all major international currencies and are used in over 190 countries worldwide.
About WEX Inc.
WEX Inc. (NYSE: WEX) is a leading provider of corporate payment solutions. From its roots in fleet card payments beginning in 1983, WEX has expanded the scope of its business into a multi-channel provider of corporate payment solutions representing more than 10 million vehicles and offering exceptional payment security and control across a wide spectrum of business sectors. WEX serves a global set of customers and partners through its operations around the world, with offices in the United States, Australia, New Zealand, Brazil, the United Kingdom, Italy, France, Germany, Norway, and Singapore. WEX and its subsidiaries employ more than 2,500 associates. The Company has been publicly traded since 2005, and is listed on the New York Stock Exchange under the ticker symbol “WEX.” For more information, visit www.wexinc.com and follow WEX on Twitter at @WEXIncNews.
About HitchHiker GmbH
HitchHiker GmbH is a leading and independent provider of software solutions for the global travel industry, based in Frankfurt am Main, Germany. With 25 years of experience in the tourism industry and numerous international projects, HitchHiker has developed solutions for the entire airfare management and ticketing process as well as powerful online booking solutions for all types of flights and ancillaries. HitchHiker’s customers in 27 countries comprise some of the leading online and traditional travel agencies, tour operators, consolidators, travel management companies and airlines worldwide. For the development of its solutions HitchHiker trusts in industry standards such as Microsoft technology. HitchHiker has once again attained Microsoft Gold Application Development competency and is compliant to the Payment Card Industry Data Security Standard.
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