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.
About CorporatePay
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.
News media contact:
WEX
Jessica Roy, +1 207-523-6763
Jessica.Roy@wexinc.com
or
CorporatePay
Riina
Sulonen, +44 2080809336
rsulonen@corporatepay.co.uk
or
Investor
contact:
WEX
Michael E. Thomas, +1 207-523-6743
Michael.Thomas@wexinc.com