Virtual payment provider Wex is partnering with Sabre to provide virtual card technology to the agencies and other travel intermediaries that use the Sabre Direct Pay platform, the companies announced.
The companies said the virtual card technology will enable agencies to make faster payments to suppliers, gain access to metadata with each transaction and reduce vulnerability to fraud. Wex said it already works with eight of the top 10 online travel agencies in the world, and the company can issue virtual cards in 210 countries across 20 currencies.
The partnership "reflects a broader shift we're seeing across the industry, a move towards integrated, virtual payment solutions that are purpose-built for travel," Sabre Direct Pay managing director Patricio Boccardo said in a statement.