WEX, Troovo partner on virtual payments in Asia
Payments technology and fleet card provider WEX has partnered with Troovo, an Australian software developer, to streamline virtual card payments in the Asia-Pacific region via robotic processing.
Troovo’s robot-powered processing controls enables businesses in the travel and general procurement arenas to fully automate their workflows and processes, with the goal of increasing efficiency, expanding payment capacity and reducing processing costs, WEX said in a Tuesday press release.
WEX forecasts that travel industry payments in the Asia-Pacific region will expand by 6 percent in the next three years — with a high proportion of cross-border volume — and Troovo’s technology will offer immediate opportunities to eliminate friction, according to the release.
“The partnership will help travel agencies and corporate purchasing departments utilize Troovo’s fully robotic virtual payments module, along with WEX’s virtual cards, to help eliminate manual intervention in payments and streamline the entire purchase-to-pay workflow,” said Kurt Knackstedt’s, Troovo’s CEO, in the release.