WEX Partners with JCB International in Japan
WEX has announced a partnership with JCB to expand WEX virtual payments technology into Japan. The agreement makes WEX JCB’s first issuer of virtual cards and enables new functionality on the JCB network. The programme is expected to launch in the second half of 2019.
The Asian payments market shows considerable opportunity with data points from WEX’s latest Payments Pulse survey, pointing to rapid adoption of e-payables solutions. Around half of the surveyed businesses in Asia/Oceania (43%) have already implemented an electronic payables initiative, and more than a third (42%) have one underway. The majority (85%) of those who say they have a payables initiative underway are working to launch it in the next six to 12 months. And almost all of the surveyed businesses in Asia/Oceania (94%) that have implemented a payments initiative or plan to do so, consider vendors outside of current banks or financial institutions a viable option.