Agreement extends successful Wright Express offering to new vertical
SOUTH PORTLAND, Maine--(BUSINESS WIRE)--Jun. 20, 2012-- Wright Express Corporation (NYSE: WXS), a leading global provider of value-based business payment processing and information management solutions, today announced an agreement with PaySpan, one of the nation's largest healthcare payments and reimbursements processors, to bring its single-use virtual payments solutions to the healthcare industry.
"This agreement expands our highly successful single-use virtual payments offering for online travel and claims companies into a new vertical that is facing increasingly complex payment solution needs - healthcare payments - to help client companies find ways to save money and time, increase control and security, and manage scale," said David D. Maxsimic, executive vice president at Wright Express. "PaySpan's long history of payments success and steady, continuous growth make it an attractive partner, and its unique positioning allows us to connect to a broad community of users across the healthcare payments industry. Pairing PaySpan's deep payer and provider knowledge base in the healthcare payments space with the Wright Express technology platform will enable PaySpan and Wright Express to bring greater productivity and efficiencies to the rapidly growing healthcare industry."
"Our partnership with Wright Express brings additional reimbursement solutions to payers and providers, further extending our leadership position in this growing segment of the healthcare economy. Bringing these innovative and advanced virtual card solutions to healthcare enables the payers and providers we serve to better manage the flow of reimbursement, improving value and curtailing potential fraud. This truly is a new generation of reimbursement technology to empower the financial services needed for high quality care, manageable risks and profitable benefits," said Kevin Arner, CEO of PaySpan. "This resourceful partnership is the result of a proven and trusted commitment of our companies to provide the best healthcare payments automation for payers and providers throughout the healthcare community."
With more than 25 years of payments expertise, PaySpan, Inc. is a trusted source of innovative healthcare reimbursement solutions that Empower the Healthcare Economy™. PaySpan provides financial networking and reimbursement solutions for more than 100 healthcare payers, 335,000 providers and 4,000 financial institutions. PaySpan's customers represent an elite array of industry leading Commercial and Government health payers representing many diverse benefit types for more than 50 million members. For more information, visit www.PaySpan.com.
About Wright Express
Wright Express is a leading provider of value-based, business payment processing and information management solutions. The Company's fleet, corporate and prepaid payment solutions provide its more than 350,000 customers with unparalleled security and control across a wide spectrum of business sectors. The Company's operations include Wright Express Financial Services, Pacific Pride, rapid! PayCard, Wright Express Prepaid Cards Australia, Wright Express Fuel Cards Australia and CorporatePay Limited, England. Wright Express and its subsidiaries employ more than 900 associates in six countries. For more information about Wright Express, please visit wrightexpress.com.
Source: Wright Express Corporation
Wright Express Corporation
Jessica Roy, 207-523-6763