Conferma, a leading virtual payments provider, has partnered with global commerce platform WEX to offer Concur® Invoice customers a simplified and cost-effective way to manage B2B payments. This global integration enables businesses to pay suppliers using WEX-issued virtual Mastercards powered by Conferma’s cutting-edge technology, reducing costs and enhancing control over payment processes.
Jason Lalor, CEO of Conferma, stated:
“This powerful integration combines Conferma’s market-leading technology, WEX virtual cards, and Concur® Invoice’s capabilities to transform the B2B payment journey. By connecting companies through an advanced payments infrastructure, businesses can focus on growth while simplifying operations.”
The integration of virtual cards into Concur® Invoice allows payments to be processed instantly. Through WEX’s flexible credit terms, businesses can improve working capital management and extend days payable outstanding. Conferma’s virtual card platform accelerates payments, helping companies streamline their payment workflows and enhance supplier relationships.
How the Integration Works
When a supplier’s invoice is received, a WEX-issued virtual Mastercard is generated within Concur® Invoice for the exact payment amount. The pre-authorized payment details are securely shared with the supplier for processing. The virtual payment is then automatically reconciled with the corresponding invoice, eliminating manual tracking and reducing errors. This ensures faster, more secure, and fully traceable payments.
Scott Duane, APAC General Manager at WEX, said:
“This collaboration combines WEX’s innovative technology with Concur’s leading expense management and invoice solutions. Businesses benefit from real-time currency conversion, reduced cross-border payment fees, improved cash flow, and enhanced fraud protection while earning rebate revenue.”
The partnership builds on an existing agreement between WEX and Conferma for non-travel B2B payments, leveraging Mastercard’s secure virtual card innovation.
Rebecca Meeker, Senior Vice President of B2B Partnerships at Mastercard, added:
“We support this initiative by Conferma and WEX to bring consumer-grade convenience to B2B payments. We look forward to accelerating virtual card adoption, enhancing integration, and driving greater efficiency in business transactions.”
This global integration will be available in all markets and currencies supported by WEX, offering businesses an advanced solution to improve payment efficiency and fuel growth.
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