WEX offers Virtual Credit Card solutions that are protected by scheme guarantees and help mitigate costs associated with payment processing.
Virtual payments technology can help travel companies when it comes to paying suppliers — and WEX Asia is here to facilitate the process and make things more secure.
“Fraud is a major concern for 60% of travel intermediaries when making payment,” says Richard Cogswell, commercial director – Asia Pacific, WEX Asia.
WEX offers Virtual Credit Card solutions that are protected by scheme guarantees and help mitigate costs associated with payment processing.
The global corporate payments company recently partnered Melbourne-based fintech Payment Logic to automate the car registration renewal process for businesses in Australia. This partnership allows customer to make use of WEX’s virtual credit card payment to pay for registration renewal without any manual input from the fleet owner, manager or administrator.
Another partnership it recently made was with Sydney-based Troovo Technologies. Troovo’s Robotic Process Automation (RPA) solution allows travel, payment and procurement companies to fully automate their workflows and processes.
“As these businesses typically transact across borders and process high volumes of data, RPA solutions are optimal to improve operational efficiencies, boost capabilities and reduce processing costs. Troovo will allow WEX customers to streamline virtual payments with no development effort, costs or changes to existing workflows,” he says.
The company hopes to enhance its capabilities and presence within the Asia Pacific market.
Adds Cogswell, “The opportunity in Asia continues to see huge growth in both outbound and inbound tourism as it benefits from the global trend for greater international travel.”