MELBOURNE, Australia--(BUSINESS WIRE)--Apr. 3, 2019--
WEX (NYSE: WEX), a leading financial technology service provider,
announced today that it has partnered with Sydney-based supply chain
technology provider and financier Octet.
Octet is a supply chain management and financing platform that enables
Australian small- and medium-sized businesses to manage and pay local
and international suppliers. The platform uses enterprise-grade tools to
enable its customers to track, validate and authorise each step of the
supply chain. This provides Octet’s customers with full visibility of
all supporting documentation and the ability to facilitate payments
through multiple methods.
Through the partnership, Octet’s customers will benefit from WEX’s
virtual credit cards to pay their suppliers. The full benefits of using
WEX’s payments solutions for Octet’s customers include:
-
Improved cash flows
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No currency conversion fee for cross-border transactions
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Ability to pay any domestic and overseas suppliers in their preferred
currency with a secure 16-digit virtual credit number
Justin Cross, Director of Business Development & Partnerships, EMEA &
APAC for WEX Corporate Payments said, “At WEX, we’re continuously
developing improved accounts payable solutions that create better
products and services for customers. Octet is a leading innovator in the
supply chain platform space and partnering with them demonstrates WEX’s
growth strategy and intent to be at the forefront of commercial
payments.”
Clive Isenberg, CEO of Octet said, “The partnership will arm local
businesses with more power to trade locally and internationally. Octet
and WEX will be looking to further facilitate seamless, efficient and
secure supply chain payments.”
About WEX Inc.
Powered by the belief that complex
payment systems can be made simple, WEX (NYSE: WEX) is a leading
financial technology service provider across a wide spectrum of sectors,
including fleet, travel and healthcare. WEX operates in more than 10
countries and in more than 20 currencies through more than 4,800
associates around the world. WEX fleet cards offer 11.5 million vehicles
exceptional payment security and control; purchase volume in its travel
and corporate solutions grew to $34.7 billion in 2018; and the WEX
Health financial technology platform helps 343,000 employers and more
than 28 million consumers better manage healthcare expenses. For more
information, visit www.wexinc.com.
About Octet
Octet was born out of a desire to help local
businesses buy from global suppliers in highly regulated markets. Since
2008, it has helped connect businesses with their suppliers, and
democratize supply chain financing tools for small and medium
businesses. We have spread across the world to make the supply chain
more efficient and secure for thousands of companies worldwide. For more
information, visit www.octet.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190403005609/en/
Source: WEX
WEX Media Contact:
Red Agency
Chenny Wulandari
chenny.wulandari@redagency.com.au
+61
(0) 411 582 102
Octet Media Contact:
uberbrand
David Leiton
davidl@uberbrand.com.au
+61
(0) 452 410 199