Paying international suppliers often comes with unnecessary expense and hassle.
For many types of business paying international suppliers is a fundamental concern and one that comes with unnecessary expense and hassle.
Our international supplier payments solution offers you an effective and simple way to pay your suppliers worldwide, helping you to:
- Eliminate the risk of currency fluctuation
- Escape unnecessary fees for cross-border payments – saving on average 3%
- Reconcile automatically with payment & settlement in local currency ensuring no variance
Avoid conversion fees in up to 22 currencies
Our supplier payment solution is used to pay suppliers in over 150 currencies. We provide a truly global supplier payment solution and offer the potential to save 3% on payments.
We can bill you in up to 22 of those currencies, avoiding currency fluctuation risk and at no cost to you.
How it Works
If you trade in one of the 22 currencies you may now be able to pay both WEX and your suppliers in them:
Through Mastercard and Visa we offer over 150 currencies globally to pay your suppliers in. You pay us in your own local currency and the conversion is done for you without mark up, while your supplier gets paid in their local currency:
How Much Are International Payments Costing?
The average cost of currency conversion or cross-currency transactions is 3% which soon adds up. For mid-sized travel companies this can come to much £1 million annually.
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Challenges of International Payments for Suppliers
This infographic looks at the challenges that cross-border and foreign currency payments present for travel suppliers and is based on research from Phocuswright co-sponsored by WEX.
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Fact Sheet: Travel Payments Solution
Our travel payments solution allows you to focus on your business by saving time and money when paying suppliers locally and across the globe - find out more in this fact sheet.
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Case Study: Expedia Saves With WEX
Expedia and many leading travel companies around the world pay their suppliers with WEX Virtual Card Numbers (VCNs) and benefiting from the ability to automate processes.
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