Fintech provider Wex has partnered with virtual card payment technology company Extend to enable Wex clients to make virtual payments within Concur Invoice, the companies announced.
With that capability, Wex corporate card clients can have a virtual card automatically generated to their account when an invoice is received in Concur Invoice. The card has a unique 16-digit number, spending limit and validity date. Extend, which is an SAP Concur partner, provides the infrastructure to facilitate the integration.
That enables companies to eliminate paper checks and pay suppliers faster and earn available card rebates on those vendor transactions, according to the companies.
The integration is part of Wex's strategy to "transform Accounts Payable from a back-office function into a strategic driver of working capital," Carlos Carriedo, Wex COO for payments and mobility in the Americas, said in a statement. "By partnering with Extend to embed virtual card payments inside Concur Invoice, we are delivering infrastructure that offers granular control over every transaction, all without disrupting how they already operate."