WEX Expands Asian Virtual Payments Solution to Singapore
April 02 2017 - 4:30PM
Business Wire
WEX Inc. (NYSE: WEX), a leading provider of corporate payment
solutions, today announced that it will begin issuing virtual
credit cards in Singapore, expanding its program in the Asian
region that currently includes Hong Kong and Thailand.
WEX’s single-use virtual credit card (VCC) technology, assigns
every transaction a unique card number, and provides companies with
additional controls for security. Additionally, the VCC technology
can deliver efficiencies by reducing reconciliations, queries and
invoice processing.
“We are proud to have achieved this important milestone to
support the growth of the WEX virtual product in the Asia Pacific
region. Singapore is an important market for us and coupled with
the fact that it is a global financial centre, this endorsement
marks our commitment to the region,” said Jim Pratt, SVP and GM for
Virtual Payments, WEX Inc.
“Obtaining an issuing license in Singapore is a tangible
demonstration of our commitment to growing our issuance
capabilities in Asia.” said WEX’s Managing Director for Asia
Pacific, Jeff Ames from WEX’s regional headquarters in Singapore.
“WEX’s continued focus on providing increased access to new markets
in in Asia, and globally, positions us strongly and enables us
(WEX) to better support our customers.”
WEX’s subsidiary, WEX Finance Inc., was granted an issuing
license by the Monetary Authority of Singapore on 14 February 2017
which enables it to issue credit and charge cards in Singapore
under the Banking Act.
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 10
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
2,500 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 Asia, please visit
www.wexasia.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170402005007/en/
WEX Inc.News media contact:Robert Gould,
207-523-7429Robert.Gould@wexinc.comorWEX Asia PacificNews media
contact:Susan Nicholson, +61 417 061
722susan.nicholson@wexaustralia.com
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