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WEX to Provide Virtual Credit Solution for Conference Care
WEX Subsidiary, CorporatePay, to Manage Relationship
LONDON--(BUSINESS WIRE)--Jan. 10, 2014-- WEX Inc. (NYSE: WEX), a leading provider of corporate payment solutions, has announced an agreement with Conference Care, a leading event management and venue finding service, to provide the WEX Virtual Credit Solution.
Conference Care has over 18 years of experience in providing a highly personalised global solution as specialist venue finders and delivers complex Live Event Management. The company has award winning service levels and a reputation for being a superior expert in its field, demonstrated through the company having been named HBBA’s (Hotel Booking Agents Association) Agent of the Year in 2012 and Medium Agent of the Year in 2011. Having previously paid suppliers by cheque, Conference Care will now have improved reconciliation and increased automation of processes through the WEX Virtual Credit Solution, which will ultimately enable payments to be made quickly and more efficiently.
The WEX Virtual Credit Solution provides businesses with the ability to: Set precise controls for payment authorisations Streamline and automate payment reconciliation Earn revenue share on processed payments Utilise a straightforward, cost-effective system which can be seamlessly integrated into existing systems Myles Stephenson, CEO of WEX subsidiary CorporatePay, said, "We are delighted to join forces with Conference Care. Our market-leading technology will enable Conference Care to enhance the efficiency of its operation, which in turn will result in cost savings to the business, and ultimately allow it to generate additional revenue going forward."
"The WEX Virtual Credit Solution provides us with an efficient, streamlined system through which to manage payments to our suppliers, which will further enhance our offering as a whole. We very much look forward to working with WEX and converting to this system, which moves us on from our previously out-dated cheque process," said Chris Peacock, Director, Conference Care.
About WEX Inc.
WEX Inc. (NYSE: WEX) is a leading provider of corporate payment solutions. From its roots in fleet card payments beginning in 1983, WEX has expanded the scope of its business into a multi-channel provider of corporate payment solutions representing more than 7.6 million cardholders and offering exceptional payment security and control across a wide spectrum of business sectors. The Company’s operations include WEX Bank, Fleet One, Pacific Pride, rapid! PayCard, WEX Australia, Wright Express New Zealand and CorporatePay Limited, England, as well as a majority equity position in UNIK S.A., Brazil. WEX and its subsidiaries employ more than 1,400 associates. For more information about WEX, please visit www.wexinc.com.
CorporatePay is one of the UK's leading providers of prepaid MasterCard and Visa card solutions for business as well as a consumer currency card programme. Operating across a range of sectors including travel, healthcare, media and production, CorporatePay helps clients maximise profitability and reduce cost by transforming how they manage payments to employees, suppliers and customers. In 2012, CorporatePay was acquired by WEX Inc., a leading provider of corporate payment solutions. For more information on CorporatePay, please visit www.corporatepay.com.
Source: WEX Inc.
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Riina Sulonen, +44 2080809336
Michael E. Thomas, +1 207-523-6743