WEX, Payment Logic tie fleet registration to payments tech
Fleet card and corporate payment provider WEX has partnered with Melbourne, Australia-based fintech Payment Logic to support automated vehicle registration for fleet operators in Australia.
The collaboration combines WEX’s virtual payments with Payment Logic’s Robotic Process Automation (RPA) product. RPA connects car registration files to a WEX virtual card and enters the registration renewal without manual input.
“The accounts payable (AP) process is usually managed manually, an approach that is not only tedious but also prone to human error,"said Justin Cross, Director, Market Development APAC Corporate Payments for WEX in the press release.
According to a 2018 study cited in the press release by ACA Research, there are 19,000 businesses operating fleets of 20 or more vehicles in Australia, with a total of 2.16 million vehicles, according to ACA Research.
WEX is adding automation as it tries to expand its business in Asia. Last month WEX partnered with Troovo, an Australian software developer to speed virtual card payments in the Asia-Pacific region. In this partnership Troovo’s robot-powered processing enable businesses in the travel and general procurement markets to digitize payment workflows.