Extend, a virtual card provider; and WEX, a payment solutions company, announced a collaboration to enable virtual card payments inside Concur Invoice. WEX corporate card customers, said the announcement, can now connect their WEX commercial accounts in Concur Invoice to generate and settle vendor payments with virtual cards — all automatically and without leaving the Concur platform.
As an established SAP Concur partner, said the announcement, Extend provides WEX with the infrastructure key to facilitating — and accelerating — this strategic integration designed to deliver more value to business customers. This news, said the announcement, “reflects Extend’s growing position as a trusted fintech partner for financial institutions and corporate payment providers looking to deliver embedded payment capabilities inside the platforms their customers already rely on.”
For WEX corporate card customers using Concur Invoice, this integration not only enables a new level of control and security over vendor payments, said the announcement, it also means a more streamlined and automated accounts payable process. When an invoice is received, Concur Invoice automatically generates a virtual card linked to the customer’s registered WEX commercial account — complete with a unique 16-digit number, spend limit, validity date and invoice reference — then authorizes, remits and reconciles the payment end to end.
Carlos Carriedo, COO, Americas, payments & mobility, WEX, said, “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.”
Andrew Jamison, CEO of Extend, said the partnership “reflects the momentum we’re seeing across the industry.” Extend, he said, “has built the infrastructure that lets card issuers and payment platforms deploy new capabilities inside the software their customers already use, without ripping and replacing what’s already working.” As customer expectations rapidly evolve, said Jamison, “so does the race to deliver more connected payment workflows — Extend is excited to be the partner that makes it possible.”
