Conferma and WEX improve B2B payments for Concur Invoice

This collaboration aims to simplify invoice payments, reduce costs, and provide businesses with greater control over their financial operations.

The new integration will be available worldwide, supporting all markets and currencies where WEX operates. It enables Concur Invoice users to pay suppliers using WEX-issued virtual Mastercards, powered by Conferma’s payment technology. This solution simplifies transactions, accelerates payment processing, and increases security by reducing reliance on manual reconciliation processes.

Optimising working capital with extended payment terms

By incorporating virtual cards into the invoice payment process, businesses can make instant payments while leveraging WEX’s credit terms to optimise working capital. This allows commercial customers to extend their days payable outstanding, improving cash flow management. The automation provided by Conferma’s platform reduces administrative burdens and strengthens operational efficiency.

The integration refines invoice payments by automating key steps. When a supplier submits an invoice, Concur Invoice generates a WEX-issued virtual Mastercard for the exact amount due. The pre-authorised payment details are securely shared with the supplier, ensuring a smooth transaction process. Once processed, the payment is automatically reconciled against the invoice, eliminating the need for manual tracking of receipts and invoices.

This collaboration builds on an existing partnership between WEX and Conferma, extending their joint offerings beyond travel-related payments to broader B2B transactions. The integration also leverages Mastercard’s secure virtual card technology, reinforcing the commitment to innovation in digital payments.

Driving adoption of virtual cards in B2B transactions

The initiative aligns with ongoing industry efforts to build up business-to-business payment processes, offering consumer-grade convenience to corporate transactions. By integrating sophisticated virtual card solutions, companies can reduce cross-border payment fees, enable real-time currency conversion, earn rebate revenue, and mitigate fraud risks.

This partnership underscores the growing adoption of virtual cards as a key component in modernising financial operations for businesses worldwide, ensuring simple, secure, and efficient payment solutions.