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WEX Launches Its Virtual Card Integration with Argo in LATAMWEX Inc. (NYSE: WEX), a leading provider of corporate payment solutions, announced the introduction of its customized virtual payment solution, WEX VCN, in partnership with Argo. Argo is a leading provider of corporate travel and expense management for more than 3,000 corporations and travel agencies in Brazil and Mexico. The solution simplifies booking, travel management and expense reporting. The WEX VCN solution will expand virtual card adoption on the online booking tool, which already employs other payment technologies. The solution is a widely used technology in other geographies and is starting to gain market share in Brazil. By generating a unique virtual card number (VCN) for each online travel reservation, it provides greater security and payment traceability. Jose Roberto Kracochansky, CEO of WEX LATAM said, "Latin America is becoming one of the most promising regions in travel payments, and is an untapped market for VCN. We are thrilled to further support local businesses through WEX VCN. The advanced payment technology, robust and intuitive solution, top service and knowledge underscore our commitment to an industry leader in business-to-business solutions." Luigi Botto, CEO at Argo said, "With WEX payment solutions and Argo, our clients will have better control over their cash flow and will gain operational agility by automating payments and reconciliation of travel expenses." As each VCN is unique and transaction-specific, the process is more effective in preventing fraud and making the payment process easier by eliminating invoices, for example. For information and to be able to leverage the benefits that the VCN offers, Argo's clients must contact WEX.
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