WEX
Inc. (NYSE: WEX), a leading provider of corporate payment solutions,
today announced the introduction of WEX Travel, a customized virtual
payments solution, for the Brazilian travel market. This product builds
on WEX's entrance into Brazil last year when it acquired a 51 percent
interest in UNIK S.A., and expands upon its virtual card success in the
United States, Australia, United Kingdom and Europe.
Jim Pratt, vice president and general manager of global virtual payments
for WEX said, “We are excited to bring our pioneering technology and
proficiency in the travel payments sector to Brazil. WEX counts among
its clients three of the top four global online travel agencies. These
companies use the WEX Travel solution to reduce costs, save time and
help to eliminate fraud risk. We look forward to extending this
expertise to Latin American businesses and their customers in the second
half of this year.”
The WEX Travel product provides businesses with the ability to:
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Use single use virtual cards for travel booking
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Reduce costs and increase efficiency
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Streamline payment reconciliation
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Earn revenue share on processed payments
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Pay global suppliers securely with customized controls
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Seamlessly integrate with existing systems to support high volume
operational environments
Jose Roberto Kracochansky, CEO of UNIK said, “Latin America is becoming
one of the most important regions in the global travel industry, and we
are thrilled to further support local businesses through WEX Travel. The
advanced payments technology, robust and intuitive solutions, and
unrivaled service and knowledge underscore our commitment to providing
unique business-to-business solutions.”
Both Pratt and Kracochansky will attend World Travel Market, a global
event for the travel industry, in São Paulo on April 23 – April 25.
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. Today it represents more than 7.6 million
cardholders, offering payment security and control across a wide
spectrum of business sectors. The Company’s operations include: WEX
Bank, Fleet One, Pacific Pride, rapid! PayCard, Wright Express Prepaid
Cards Australia, Wright Express Fuel Cards Australia, Wright Express New
Zealand and CorporatePay Limited, England, as well as a majority equity
position in UNIK S.A., acquired in 2012. UNIK´s cards are present in
more than 8,000 companies throughout Brazil, with more than 1.5 million
active cards. WEX and its subsidiaries employ more than 1,300
associates. For more information about WEX, please visit WEXInc.com. For
more information about UNIK, visit www.unik.com.br.
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