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WEX Australia Extends Virtual Payments Solution to Flight Centre Travel Group Retail Stores

MELBOURNE, Australia, May 01, 2016 (BUSINESS WIRE) -- WEX Inc. WEX, +0.53% a leading provider of corporate payment solutions, today announced that WEX Australia has updated its existing agreement with Flight Centre Travel Group (FCTG), one of the world’s largest travel agency groups, to provide virtual credit card payments for its retail stores.

WEX’s single-use virtual card technology, which assigns every transaction with a unique card number, will allow FCTG retail stores to efficiently manage supplier payments with the use of enhanced data, and automatically reconcile transactions at the store level. WEX’s Virtual Credit Card (VCC) solution will also significantly reduce the risk of fraud and misuse of cards. FCTG, which operates the largest retail travel group in Australia, will use the WEX VCC solution at all of its 1,200 retail businesses throughout Australia.

“The decision to extend the WEX VCC solution to its retail stores represents FCTG’s recognition that our virtual credit...