WEX, a provider of corporate payment solutions, has signed a new virtual payments agreement with HitchHiker, a Germany-based provider of software solutions for the global travel industry.
With the agreement in place, mutual customers will 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.
WEX Europe commercial director for virtual payments Ian Johnson 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.”
HitchHiker managing director Thomas Boffo said: “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 globally.