WEX Joins Forces With Supply Chain Technology Provider Octet
Zacks Investment Research | Apr 04, 2019 10:31PM ET
WEX Inc. (NYSE:WEX) recently announced its partnership with Octet — a Sydney-based supply chain technology provider and financier.
Octet’s platform enables tracking, validation and authorization of each step of the supply chain. It mainly serves Australian small- and medium-sized businesses.
Through the partnership, WEX will allow Octet’s customers to use virtual credit cards to pay their suppliers. Benefits include improved cash flows, no currency conversion fee for international transactions and the facility to pay suppliers in their preferred currency with a secure 16-digit virtual credit number.
The news follows WEX’s announcement to snap up Go Fuel Card, the fuel card business of fuel station and convenience store retailer — EG Card. Go Fuel Card also serves small and medium enterprises along with larger fleet players.
WEX Inc. Revenue (TTM)
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