WEX Inc. a provider of corporate payment solutions, announced that WEX Europe Limited has entered into an international agreement with Conferma, a provider of Virtual Card Number (VCN) technology for corporate travel and expense.
This will provide Conferma and its clients with WEX's business benefits internationally, building on WEX’s strengths in Virtual Credit, Debit and Prepaid payment solutions.
Myles Stephenson, Managing Director of WEX Europe, said, “We are delighted to provide our unique suite of payment solutions to Conferma and offer their clients a clean, simple set of integrations on an international basis. Our partnership will provide Conferma and its clients with immediate business benefits not available through any other single supplier of Virtual Credit, Prepaid and Debit payment options. This distinctive partnership amplifies Conferma’s position as a leading integrator and builds on WEX’s payment capabilities internationally.”
Conferma’s technology offers its clients efficiency and control when paying corporate travel suppliers. A unique 16-digit VCN is generated to settle each transaction. The VCN matches data from Conferma’s integrated network of Global Distribution Systems (GDS) and online booking channels to transaction data from WEX to produce a consolidated view of corporate travel expenditure.
Simon Barker, CEO of Conferma, said, “We are delighted to welcome WEX Europe into our network of payment providers, especially as our first prepaid option. At Conferma we pride ourselves on being at the forefront of innovation in FinTech / virtual payment technology. The way in which our VCN technology has been shaped to support a prepaid option offers clients greater flexibility and is testament to this innovation.”
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