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Creative Holidays Embraces WEX Virtual Card Solution

Stocks in this article: WEX

WEX Inc. (NYSE: WEX), a leading provider of corporate payment solutions, today announced Australia’s largest independent leisure wholesaler, Creative Holidays, as the latest travel company to embrace its innovative virtual credit card technology.

Creative Holidays is part of The Travel Corporation, which operates an extensive portfolio of award-winning travel and tourism businesses - including guided travel experiences, independent holiday package companies, boutique river cruising and luxury hotels - in 60 countries.

Along with fellow Travel Corporation brands Horizon Holidays and Brendan Tours, Creative Holidays will implement the WEX virtual card solution through WEX subsidiary, Wright Express Australia.

Wright Express Australia interim managing director Asia Pacific Greg Drumm said he was delighted The Travel Corporation had chosen WEX’s pioneering and proven technology to enhance its international and domestic payment processes.

Creative Holidays Managing Director Paul McGrath says the company will use WEX’s virtual card as a secure and reliable payment solution for accommodation suppliers.

"Adopting a single-use virtual card solution benefits our accommodation partners by ensuring guaranteed and faster settlements in multiple currencies, and by making it easier for them to match reservations against payment,” says McGrath.

“At the same time, WEX’s virtual card technology helps Creative Holidays realize efficiencies and reduce costs by streamlining and automating the payment reconciliation process, and by providing management with in-depth reporting.”

With single use virtual cards, every transaction uses a unique card number. This one-to-one payment process not only minimizes fraud risk, it also enables companies to more easily track payments, helping boost back-office efficiency, eliminate physical paperwork and reduce bank fees.

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 7.4 million cardholders and offering exceptional payment security and control across a wide spectrum of business sectors. The Company’s operations include WEX Bank, Fleet One, Pacific Pride, rapid! PayCard, Wright Express Australia, Wright Express New Zealand and CorporatePay Limited, England, as well as a majority equity position in UNIK S.A., Brazil. WEX and its subsidiaries employ more than 1,400 associates. For more information about WEX, please visit www.wexinc.com.

About Creative Holidays

For over 30 years, Creative Holidays has been Australia’s largest independent holiday wholesaler. With airfares, hotels, sightseeing trips, day tours and more, Creative Holidays has a trip to suit every kind of traveller covering 58 destinations across the globe. For further information please visit www.creativeholidays.com.

Copyright Business Wire 2010

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