Category: General News
Posted Apr 3, 2017 22:20 (GMT +7)
WEX Expands Asian Virtual Payments Solution to Singapore
SINGAPORE--(BUSINESS WIRE)--Apr. 02, 2017
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170402005007/en/
Distribute your news release with us
Our media lists include news desks at all leading Thai and English-language dailies.
Radio & TV
We deliver your news to leading Thai radio stations and TV channels.
All releases are submitted to Internet news sites, including several with guaranteed pickup.
Our Self-Serve News Release Couldn't Be Simpler
Our streamlined online process makes it simple and fast to submit your news to the Thai media. Once registered, just enter or copy your text into our submission form and you'll see an instant preview with our fee based on the word count, translation, and any attached image. To confirm submission, hit Enter to be taken to our payment processor. Once payment is approved, your release passes automatically to our news desk for translation and dissemination by our skilled and experienced team. You'll be kept informed at each step of the process.