WEX teams up with Voxel Group to Promote Virtual Payments in Hospitality Sector

By CIOReview | Tuesday, April 12, 2016

SOUTH PORTLAND, ME: WEX, a provider of payment processing and information management services has announced its partnership with Voxel Group—a premier provider of electronic billing solutions in the travel industry. The competent partnership is set to boost the influence of digital technologies across travel and hospitality arena.          

The move seems to be a reflection of an evolving vision where companies are striving to be at the centre of people's digital life by promoting online payment solutions across diverse sectors. Subsequently, today, numerous enterprises are engaging in intelligent partnerships in-order to come up with pragmatic solutions for the widespread hospitality industry.  

As such, the partnership between the two companies is based on the integration of WEX’s virtual payment solutions into Voxel’s baVel platform which is also a global electronic transaction service network. The newfound capability of the integrated solutions will accelerate the delivery and receipt of hotel invoices. By automatically sending invoices at the relevant point, this enhanced process will further enable validation of invoices and payments in real-time. Resultantly, travel companies will gain streamlined settlement procedures and hoteliers will get paid swiftly.

“We are excited to be working with Voxel and integrating into the baVel solution globally,” said Renata Caine, Vice President, virtual payments at WEX. “Our virtual payment solution provides travel companies with a number of potential immediate benefits, such as increased profitability, better cash-flow management, and reduced complexity of global supplier payments. This relationship will strengthen baVel’s leading position in the travel and hospitality industry and build on WEX’s stature as a global leader in payments.”

“The alliance with WEX represents a major breakthrough in our business model, as it will allow us to exploit synergies and leverage our respective customer bases by integrating electronic billing and electronic payments into a one-of-a-kind closed loop solution that will turn baVel into a true eSettlement platform,” said Xavier Ginesta, CEO of Voxel Group. “We are elated and eager to explore the new business opportunities and range of benefits that this new road will open up to our customers.”