This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

WEX Partners With Higher One To Launch VendorPay, A Virtual Payment Solution For Higher Education Institutions

WEX Inc. (NYSE: WXS), a leading international provider of physical, digital and virtual corporate card payment solutions, today announced it has partnered with Higher One to launch VendorPay, a customized virtual payment solution for higher education institutions. VendorPay builds on WEX’s e-payments technology proficiency in the online travel, insurance and medical payments verticals, and leverages Higher One’s comprehensive understanding of the higher education market and its needs.

“As the pioneer in developing a virtual payment solution more than 10 years ago, we are continually looking for ways to bring our technology solutions to markets where there is a real need, like higher education,” said Jim Pratt, vice president of corporate payment solutions at WEX. “Higher One’s deep knowledge and experience in delivering efficiencies and cost savings to universities and colleges across the country makes it the ideal partner to offer the new VendorPay service.”

Designed for campuses’ accounts payable departments, VendorPay eliminates paper check disbursements to the campuses’ vendors and suppliers, and it offers those vendors and suppliers an option to receive their payments faster and more predictably. Additionally, VendorPay simplifies accounts payable disbursements by streamlining not just the payment process, but also the secure storage of vendor data and payment preferences. It also combines detailed reporting and data for remittance and reconciliation for both the institution and the vendor.

“With a decade of campus know-how in simplifying disbursements, Higher One is excited to tap into WEX’s aptitude in virtual payments technology and to offer a new opportunity for campuses to achieve significant cost savings as they navigate a challenging budgetary climate,” said Miles Lasater, COO and co-founder of Higher One. “We look forward to building upon our partnership with WEX to grow our business and provide a new solution nationwide.”

VendorPay is powered by WEX Bank, a subsidiary of WEX, and Boost Payment Solutions, a business-to-business payments solutions provider.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs