Onyx Payments, a major international payment processor for hotels and travel agencies, has announced the acquisition of its long-time strategic partner, the Spain-based Worldwide Payment Service (WPS).
The two companies, both leaders in the travel and tourism sector, have worked together for a number of years, most notably on a jointly marketed commission collection product launched in 2012.
“We have always looked to create increasing value and uncover new possibilities through the services, technologies and efficiencies we provide travel agencies and hotels,” said Pedro Fernandez Salvador, Founder and CEO of WPS. “Our experience is that the market is looking for end-to-end processing on both the demand and supply side, which is why we are pleased to be an integral part of the Onyx team that is doing just that.”
“I am excited that we are able to bring together tremendous market talent and technology for the betterment of our industry,” added Mark S. Dubrow, CEO and President of Onyx Payments. “Our collective goal is to provide world-class services that enable uninhibited commerce to the travel industry.”
Last month, the company also bought out Net Trans Services and says that it hopes to pool the talent from the three companies to speed up payment processing and reconciliation, while increasing commerce transparency between hotels and travel companies. In 2013, Onyx was itself acquired by the private investment firm H.I.G Capital.
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