The technology is now being incorporated into the business travel payment solution for TMCs.

Following the deal, single-use virtual credit cards can be used on GDS’s and other online booking tools, so making them more efficient.

The system can also be used in up to 22 different currencies while circumventing transaction and set up fees.

Jim Pratt, WEX senior vice president, general manager of virtual payments said: “Grasp Technologies is a respected leader serving TMCs globally and WEX is excited to be the virtual card issuer as a part of this unique solution based on B2B travel market needs.

“GraspPAY incorporates unparalleled technology and flexibility for use with the major GDS’s and online booking tools, and a global credit solution, all at no cost.”

Dave Lukas, Grasp Technologies’ vice president added: “WEX’s global electronic payment solutions coupled with our data management and business intelligence capabilities are complementary contributors to this exciting and innovative solution.

“We look forward to helping our current and prospective travel customers save time and money, as GraspPAY will allow users to make better informed decisions to drive business cost savings and efficiencies.”