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WEX Enters into Agreement with Ypsilon.Net AG
LONDON & FRANKFURT--(BUSINESS WIRE)--WEX Inc. (NYSE: WEX), a leading provider of corporate payment solutions, has today announced that they have entered into an international agreement with Ypsilon.Net AG, a global provider of internet travel technology and payment solutions for airlines, consolidators, travel portals and travel agencies. With the agreement in place, WEX is expanding its presence within the travel payment space in Germany.
The agreement gives Ypsilon.Net’s clients easy access to WEX’s exceptional and leading portfolio of credit, debit and prepaid virtual Card number (VCN) technology through a single API for the first time. Additionally, it gives Ypsilon.Net’s global clients access to 24 billing currencies, allowing them to benefit from substantial savings on foreign exchange and cross-currency transaction fees.
Jim Pratt, SVP and General Manager, Virtual Payments of WEX, said, “We are excited to be working with Ypsilon.Net, at WEX we are constantly seeking new ways to grow and expand our business offerings to that we can help travel companies enhance their profitability and improve cash flow. Our agreement with Ypsilon.Net provides WEX with the opportunity to expand our presence into the European travel industry.”
Hans-Joachim Klenz, CEO and founder of Ypsilon.Net said, “Our agreement with WEX gives our clients the opportunity to have access to yet more cost efficient travel content. As a hybrid technology provider, combining travel and tourism with payment and fraud prevention, Ypsilon.Net is always looking for ways to expand the business opportunities for our clients. Therefore we are pleased to announce our agreement with WEX.”
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 10 million vehicles and offering exceptional payment security and control across a wide spectrum of business sectors. WEX serves a global set of customers and partners through its operations around the world, with offices in the United States, Australia, New Zealand, Brazil, the United Kingdom, Italy, France, Germany, Norway, and Singapore. WEX and its subsidiaries employ more than 2,500 associates. The Company has been publically traded since 2005, and is listed on the New York Stock Exchange under the ticker symbol “WEX.” For more information, visit www.wexinc.com and follow WEX on Twitter at @WEXIncNews.
About Ypsilon.Net AG
Since 1994, Ypsilon.Net AG has been a leading global internet travel technology provider for airlines, consolidators, online travel sites, and agencies. More than 5.000 clients and some 80.000 travel sites around the world have deployed the e-commerce solutions designed by the Frankfurt/Germany based company. Ypsilon.Net AG’s core competence lies in the development of modular internet booking engines and web based solutions; encompassing multi content B2C, B2B booking engines as well as ticketing automation, mid office systems, cache data and low cost carrier content. To secure payment with credit and bank cards, the company has reached the highest degree of safety through a PCI-DSS level 1 certification. As an official payment service provider for Visa/Mastercard/Amex, Ypsilon.Net offers its customers full compliance with these standards as well as cost efficient payment services and fraud prevention systems designed with the highest accuracy and experience.
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