11:29 AM EDT, 04/25/2024 (MT Newswires) -- WEX (WEX) said Thursday that it has entered into a new long-term collaboration with Booking.com (BKNG) to simplify transactions for travelers.

The company said it will continue to serve as Booking.com's preferred virtual card provider and offer solutions related to the online travel agency's payments.

The agreement, effective April, will focus on helping travelers and accommodation partners navigate multiple currencies, borders, and timezones, the company added.

Shares of WEX fell 6.1%, while Booking.com was down 0.7% in recent trading.

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