SÃO PAULO--(BUSINESS WIRE)--WEX Inc. (NYSE: WEX), a leading provider of corporate payment solutions, announced the introduction of its customized virtual payment solution, WEX VCN, in partnership with Argo. Argo is a leading provider of corporate travel and expense management for more than 3,000 corporations and travel agencies in Brazil and Mexico. The solution simplifies booking, travel management and expense reporting.
The WEX VCN solution will expand virtual card adoption on the online booking tool, which already employs other payment technologies. The solution is a widely used technology in other geographies and is starting to gain market share in Brazil. By generating a unique virtual card number (VCN) for each online travel reservation, it provides greater security and payment traceability.
Jose Roberto Kracochansky, CEO of WEX LATAM said, “Latin America is becoming one of the most promising regions in travel payments, and is an untapped market for VCN. We are thrilled to further support local businesses through WEX VCN. The advanced payment technology, robust and intuitive solution, top service and knowledge underscore our commitment to an industry leader in business-to-business solutions.”
Luigi Botto, CEO at Argo said, “With WEX payment solutions and Argo, our clients will have better control over their cash flow and will gain operational agility by automating payments and reconciliation of travel expenses.”
As each VCN is unique and transaction-specific, the process is more effective in preventing fraud and making the payment process easier by eliminating invoices, for example. For information and to be able to leverage the benefits that the VCN offers, Argo’s clients must contact WEX.
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 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
publically 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.
About Argo Solutions
Argo Solutions is Brazil’s leading
provider of travel online management, events and corporate expense
management. Present at more than 3,000 agencies and corporations. Argo
is at the forefront for more than 10 years with innovation and strategic
partnerships. With offices in Brazil and Mexico and operating in 10
countries, its tools are used by over 3 million active users.
High-profile clients include the seven main travel management companies
(TMCs) and some of major companies in Brazil.
