WTM 2012: CorporatePay and Wright Express combine for show of strength

WTM 2012: CorporatePay and Wright Express combine for show of strength

Payment solutions specialists CorporatePay and Wright Express exhibited together for the first time at World Travel Market following the latter’s buyout of the former earlier this year.

The combined company was created in May when the £17 million acquisition was completed for the UK-based CorporatePay, a specialist in pre-paid and virtual card solutions.

Jon Reynolds, head of product management, said with Wright Express’ specialism in credit payments the firm now provides travel companies with a full suite of payment products.

He said with the proliferation of payment types including relatively new entrants like PayPal and with online travel agents increasingly looking to expand overseas, it was key they had an efficient payments system.

“Within CorporatePay and Wright Express we have been doing this for a long time, since 2001, and we have a lot of expertise in knowing what the travel industry requires in terms of reconciliation, efficiency, controlling and managing individual transactions and keeping costs down,” he said.

Among the products showcased at WTM was Travel Virtual Payment, a Visa and Mastercard-backed global pre-paid or credit payment method, and a white label My Travel Cash currency card aimed at consumers and available in Euros, US Dollars and multi-currency.

Myles Stephenson, CorporatePay chief executive, said: “The combination of pre-paid and credit payments solutions enhances our competitive position in key segments of the travel industry and increases the size of our addressable market in terms of customers and geography. It also provides cross-selling opportunities to our global network of travel customers.”

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