WEX Australia Extends Agreement with Helloworld through New Deal with QBT for WEX Virtual Payments Solution
Technology integrates into QBT’s Global Distribution System, provides added security, and delivers efficiencies
MELBOURNE, Australia – August 3, 2016 – WEX Inc. (NYSE: WEX), a leading provider of corporate payment solutions, today announced that WEX Australia has extended its master agreement with the Helloworld Group (ASX: HLO) by signing a new contract with QBT, a market leading travel management company (TMC), to provide a virtual payments solution.
WEX’s single-use virtual credit card (VCC) technology, which assigns every transaction a unique card number, met QBT’s need for a solution that would seamlessly integrate into its global distribution system (GDS), and provide the company with additional controls for security. Additionally, the VCC technology will deliver efficiencies by reducing reconciliations, queries and invoice processing.
QBT provides travel management services in Australia to corporate customers, including a range of government, large corporate and small- to medium-sized enterprises. The company specialises in providing simple, affordable and personal services to its customers’ clients to ensure transparent, uncomplicated travel solutions for business travellers.
“We are thrilled to announce the extension of our agreement with the Helloworld Group to now include QBT, a market leader in the travel management company space,” said Jim Pratt, SVP and GM for Virtual Payments, WEX Inc. “QBT is our first customer to use an integration tool through its Global Distribution System to implement the VCC solution, and streamline its hotel bill back and credit card reconciliation process – which is an enormous benefit for a TMC.”
“The WEX virtual payments solution was a great fit for QBT,” said QBT General Manager, Russell Carstensen. “Not only was the integration into our existing system seamless, we now have the ability to provide a bill back service which removes the need to provide upfront payments to our suppliers. That was a major attraction for us and will deliver significant efficiencies.”
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 more than 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 publicly traded since 2005, and is listed on the New York Stock Exchange under the ticker symbol “WEX.”
QBT is an Australian-owned Travel Management Company who are experts in simplifying business travel for their clients, which comprise the Whole of Australian Government, large corporates and small to medium enterprises. They have over 200 staff across offices in Canberra, Melbourne, Sydney, Brisbane, Perth and Darwin and provide support to their customers internationally through their partnership with GlobalStar.
Services include arrangements for various forms of air transportation; accommodation, car hire, and a full range of travel management products to assist organisations to effectively manage their travel programs.
For more information about QBT please visit qbt.travel.
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