Simplifies payments to travel suppliers for flights, hotel rooms,
car rentals, and tours
Company Website:
http://www.wexinc.com
MELBOURNE, Australia -- (Business Wire)
WEX
Inc. (NYSE: WEX), a leading provider of corporate payment solutions,
today announced that WEX Australia has updated its existing agreement
with Flight Centre Travel Group (FCTG), one of the world’s largest
travel agency groups, to provide virtual credit card payments for its
retail stores.
WEX’s single-use virtual card technology, which assigns every
transaction with a unique card number, will allow FCTG retail stores to
efficiently manage supplier payments with the use of enhanced data, and
automatically reconcile transactions at the store level. WEX’s Virtual
Credit Card (VCC) solution will also significantly reduce the risk of
fraud and misuse of cards. FCTG, which operates the largest retail
travel group in Australia, will use the WEX VCC solution at all of its
1,200 retail businesses throughout Australia.
“The decision to extend the WEX VCC solution to its retail stores
represents FCTG’s recognition that our virtual credit card solution
simplifies transactions and enhances payment security,” said WEX
Australia Managing Director, Greg Drumm. “The benefits to FCTG are clear
and the simplification of transaction reconciliations within stores will
be a major efficiency.”
FCTG Treasurer, Richard Humphreys, also commented about the measurable
benefits for the travel group: “The adoption of WEX’s VCC solution
throughout our retail stores in Australia will remove administrative
tasks for our consultants allowing them to spend more time with our
customers, and enhance controls with comprehensive reporting tools.”
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 9 million vehicles and offering exceptional payment security and
control across a wide spectrum of business sectors. WEX serves a global
set of customers and partners through its operations around the world,
with offices in the United States, Australia, New Zealand, Brazil, the
United Kingdom, Italy, France, Germany, Norway, and Singapore. WEX and
its subsidiaries employ more than 2,000 associates. The Company has been
publicly traded since 2005, and is listed on the New York Stock Exchange
under the ticker symbol “WEX.” For more information, visit www.wexinc.com
and follow WEX on Twitter at @WEXIncNews.
For more information about WEX Australia, please visit www.wexaustralia.com.
About Flight Centre
After starting with one shop in the
early 1980s, FCTG has enjoyed remarkable growth to become a $16 billion
TTV business consisting of more than 30 brands. The group has
company-owned operations in 14 countries and a corporate travel
management network that spans more than 90 countries. It employs more
than 16,000 people globally and has a total of more than 2,800 stores
and businesses.
For further information, please visit www.fctgl.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160501005008/en/
Contacts:
WEX Inc.
News media contact:
Jessica Roy, 207-523-6763
Jessica.Roy@wexinc.com
or
WEX
Australia
News media contact:
Susan Nicholson, +61 417
061 722
susan.nicholson@wexaustralia.com
Source: WEX Inc.
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