WEX’s single-use virtual credit card (VCC) technology, assigns every transaction a unique card number, and provides companies with additional controls for security, claims the company. Additionally, the VCC technology can deliver efficiencies by reducing reconciliations, queries and invoice processing.
More than that, the company adds that “Singapore is an important market for us and coupled with the fact that it is a global financial centre, this endorsement marks our commitment to the region.”
WEX’s subsidiary, WEX Finance Inc., was granted an issuing license by the Monetary Authority of Singapore on 14 February 2017 which enables it to issue credit and charge cards in Singapore under the Banking Act.
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