WEX Inc. (NYSE: WEX), a global provider of corporate payment solutions, today announced that WEX Europe has entered an agreement with Zibrant Limited ("Zibrant"), the award winning venue finding, creative communications and event management company, to provide the WEX Virtual Credit Solution.
Zibrant's heritage spans over 26 years of international corporate venue finding, event production, congress, incentive and event management, creative communications, exhibition and event accommodation and hotel booking services. The Zibrant Venues, Meetings Management and LIVE! brands will deliver over 25,000 events across more than 50 countries during 2014.
WEX Europe's bespoke virtual payment solution will enable Zibrant to reduce the complexity of paying its large global supplier base by providing one accounts payable solution with improved reconciliation and increased process automation.
The WEX Virtual Credit Solution provides businesses with the ability to:
- Improve efficiency through global payments
- Automate payment ?ow and reconciliation
- Set precise controls for payment authorisations
- Utilise a cost-effective system which can be seamlessly integrated
- Improve supplier relationships
WEX Inc., together with its subsidiary WEX Europe, work extensively within the travel industry, and the majority of its $13 billion virtual card spend is travel and hospitality related. WEX Europe provides prepaid and credit solutions which include its expense management and virtual payment products that can be tailored to provide maximum value to clients.
Fay Sharpe, Financial Director of Zibrant said: "We aim to consistently deliver exceptional service to our customers and suppliers and the new technology forms part of a programme of heavy investment in the latest technologies and infrastructure supporting our expanding business model. The implementation of the new WEX Virtual Credit Solution will have a direct benefit to our supplier relationships and will enable us to continue to offer the best market rates and delegate packages to our client portfolio."
Myles Stephenson, Managing Director of WEX Europe, said: "We're very excited to add Zibrant to our portfolio of Virtual Credit Payment Solution clients. We have vast experience in the travel and hospitality industry helping companies like Zibrant reduce the complexity of managing and paying suppliers globally. Our industry leading Virtual Payments platform is able to drive efficiencies on a global level and will help Zibrant continue to deliver excellence.
About WEX Europe
WEX Europe is a leading provider of physical and virtual commercial payment solutions issued for global acceptance with MasterCard and Visa. With a strategic focus on the travel industry, our market leading virtual payment solutions offer prepaid and credit funding options. Our prepaid business payment solutions help businesses of all sizes to maximise profitability and reduce cost by transforming how they manage payments to employees, suppliers and customers. We also deliver fuel card processing solutions for private label and closed loop networks. In 2012, CorporatePay was acquired by WEX Inc. and it has been integrated with WEX's existing operations in the UK and the combined business is now operating as WEX Europe. For more information on WEX Europe, please visit www.wexeurope.com.
About Zibrant
- Zibrant is a leading provider of venue-finding, event production, event and incentive management and hotel booking services.
- With its origins dating from 1988, the award-winning agency now places over 25,000 events annually in more than 50 countries and employs 200 staff predominantly in the UK, Ireland and France with strategically placed global representatives.
- Zibrant operates independently as part of Motivcom plc, an AIM listed UK business services group offering marketing communications, event management and incentive expertise to corporate clients.
- www.zibrant.com
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 7.9 million cardholders and offering exceptional payment security and control across a wide spectrum of business sectors. The Company's operations include WEX Bank, Fleet One, rapid! PayCard, Evolution1, WEX Australia, WEX New Zealand and WEX Europe, as well as a majority equity position in UNIK S.A., Brazil. WEX and its subsidiaries employ more than 1,700 associates. For more information about WEX, please visit http://www.wexinc.com.
Contacts:
WEX Europe
Riina Sulonen, +44 (0)20 8080 9336
riina.sulonen@wexeurope.com
or
Zibrant
Penny McGrigor, +44 (0)8434 797 979
hello@zibrant.com
