M&A / Property
Nuvei and WEX Partner to Expand Virtual Card Payments for the Global Travel Industry
NVEI · Price
Executive Summary
- Nuvei announced a partnership with WEX to integrate WEX’s virtual card technology into Nuvei’s global merchant network, targeting travel industry merchants.
- The integration aims to improve cash flow, reduce credit reliance, and increase payment transparency for online travel agencies, airlines, and hospitality brands.
- Both companies highlight the solution as a way to streamline supplier payments, enhance liquidity, and create new revenue opportunities in the travel payments ecosystem.
Key Details
- Partnership between Nuvei (global payments provider) and WEX (virtual payment solutions leader).
- Virtual card technology will be made available to travel merchants and marketplaces integrated with Nuvei’s network.
- Expected benefits for merchants: faster supplier payments, automated issuance, built‑in controls, reduced credit line dependence, stronger liquidity from receivables.
- Benefits for acquirers: enhanced visibility into payment flows and improved operational oversight.
- Targeted users include online travel agencies (OTAs), airlines, hospitality brands, and other travel merchants.
- Quote from Phil Fayer, Chair & CEO of Nuvei: partnership strengthens Nuvei’s position as the payments infrastructure partner of choice for the travel industry.
- Quote from Jason Hancock, Managing Director of Global Travel at WEX: virtual cards help travel agencies manage complex supplier networks with faster, more confident fund movements.
Notable Quotes
- “Our partnership with WEX further strengthens Nuvei's position as the payments infrastructure partner of choice for the travel industry.” – Phil Fayer, Chair and CEO, Nuvei
- “Virtual cards have become a great tool for travel agencies managing complex supplier networks… enabling agencies and suppliers to move funds faster and with greater confidence.” – Jason Hancock, Managing Director of Global Travel, WEX