Onyx Payments, a payment processor for hotels and travel distributors, has acquired Norway-based Net Trans Services and Spain-based Worldwide Payment Systems (WPS).
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Net Trans provides a complete hotel commission recovery and reconciliation service for travel agencies and other hotel booking professionals across the world.
WPS is a data and payment processing company specialized in the management and control of international payments worldwide. Established in 1998, WPS optimizes the business flows of more than 200,000 travel industry entities in 192 countries providing payment, reconciliation and invoicing solutions.
Onyx Payments believes that the acquisitions will allow the company to eliminate payment processing barriers and improve efficiencies.
Mark Dubrow, CEO of Onyx Payments, said: "We are very excited about this next stage of growth for Onyx. By combining our businesses, we will be able to provide our customers with valued services, increased speed of payments and improve the value chain between travel distributors and hotels.
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By GlobalData"The new Onyx has the innovation, size and financial stability to make the commerce services we provide even more attractive to the multi-national companies that rely on us to process close to a billion dollars in commissions annually."
