Corporate payments firm WEX is teaming up with Crawler2api to facilitate transactions within Crawler2api’s real-time API services.
Their collaboration, announced Tuesday (May 30), will see Crawler2api integrating WEX’s payment solutions; Crawler2api already facilitates transactions that work with the custom APIs it builds. Integrating with WEX means further automation of those transactions, the companies explained.
“Much like Crawler2api aims to simplify the gathering and aggregation of data within the travel industry, at WEX we aim to take the complexity out of making payments to travel suppliers,” said WEX Europe Commercial Director, Virtual Payments, Ian Johnson in a statement. “We are excited to work with Crawler2api to help automate the whole process for travel companies, from displaying travel options from supplier websites and apps to paying a supplier when a booking is made.”
APIs are becoming an increasingly important technology in facilitating B2B transactions. The latest PYMNTS B2B API Tracker, powered by FI.SPAN, identifies cross-border B2B payments as an area that could particularly benefit from API technology, with corporate travel a niche seeing rising cross-border payment volumes.
Still, there are challenges to implementing APIs; recent research from Capital One and the NACPC found that while payment professionals are aware of the benefits APIs could bring, there is a lack of cost-benefit data and leadership to make adoption of the technology a reality.