Corporate payments company WEX has partnered with card identity company Conferma to produce virtual card technology for global travel.
The South Portland, Maine-based WEX's subsidiary, WEX Europe Limited, will provide digital prepaid payment tools to Conferma, which specializes in virtual card number (VCN) technology for corporate travel and expense. The WEX Travel product offering includes virtual credit, debit and prepaid payment options for corporate travel suppliers. WEX, which also specializes in fleet payments, is also in the midst of an international expansion program under CEO Melissa Smith.
Confermas partners will be able to choose any of these payment methods, and generate a 16-digit VCN for each travel booking transaction. The VCN automatically matches data from Confermas integrated network of Global Distribution Systems and online booking channels, to transaction data from WEX. The end result is a consolidated view of corporate travel expenditure.
WEX travel product users can integrate the technology with existing systems to support a high volume of transactions. In addition businesses can use the system to earn revenue share on processed payments.
The partnership permits Conferma and its clients to have access to "a clean, simple set of integrations on an international basis," says Myles Stephenson, managing director of WEX Europe, in an April 25 press release.