SINGAPORE--(BUSINESS WIRE)--WEX Inc. (NYSE: WEX), a leading financial technology service provider, has expanded its commercial footprint globally with the signing in Singapore of Japanese travel company Time Design.
Time Design provides a white-labelled technology booking platform that enables hotels, airlines and online travel agents (OTAs) to sell travel packages on their own websites.
As part of the agreement, WEX will issue its virtual cards for Time Design, providing it with the ability to:
- Pay domestic and overseas suppliers (hotels and airlines) in their preferred currency with a secure 16-digit virtual number
- Reduce cross-border transaction fees
- Improve cash flows
- Reduce costs and increase efficiency
- Streamline payment reconciliation
Richard Cogswell, Commercial Director, APAC, WEX, said, “We are thrilled to have signed Time Design. This is a very exciting development for WEX as we look to grow our global customer base and extend our virtual payments capability into new markets across the Asia Pacific region.”
Yuzo Takamatsu, CEO of Time Design, said, “At Time Design, we pride ourselves in delivering a seamless package travel booking experience. The addition of WEX’s virtual payments technology into our booking platform will further elevate our operational efficiency and strengthen our position as an innovative player in the international travel market.”
About WEX
Powered by the belief that complex payment systems can be made simple, WEX (NYSE: WEX) is a leading financial technology service provider across a wide spectrum of sectors, including fleet, travel and healthcare. WEX operates in more than 10 countries and in more than 20 currencies through more than 4,800 associates around the world. WEX fleet cards offer 13.1 million vehicles exceptional payment security and control; purchase volume in its travel and corporate solutions grew to $34.7 billion in 2018; and the WEX Health financial technology platform helps 343,000 employers and more than 28 million consumers better manage healthcare expenses. For more information, visit www.wexinc.com.
About Time Design
Time Design is a pioneer technology company from Japan specializing in dynamic packages. The company empowers some of the most admired hotel groups around the world with a package booking engine to capture more holistic reservations and boost their direct revenue. Time Design partners with over 2300 hotels, GDS, CRS, and global channel managers. The company was founded in Tokyo, Japan, by President CEO, Yuzo Takamatsu, in 2006. Time Design is a group company of Kakaku.com, Inc. (TSE code: 2371).
