WEX Allies with Higher One - Analyst Blog
28 Novembro 2012 - 3:57PM
Zacks
Formerly known as Wright Express Corp, WEX Inc.
(WXS) announced a strategic alliance with Higher One to provide
easy and secure online payment solutions to higher education
institutions. Accordingly, a new service – VendorPay – was unveiled
by both the abovementioned companies to deliver cost-effective
payment solutions.
Through the launch of VendorPay, WEX and Higher One aim to tap
the potential higher education market, whereby WEX’s technological
expertise complements well with Higher One’s high penetration in
this market. Thus, both the companies will offer online payments
verticals through VendorPay, to enable educational campuses can
conveniently handle issues related to travel, medical and
insurance.
Further, the use of VendorPay completely erases the use of paper
checks for making payments to the vendors and suppliers on the
campuses. It also eases the disbursement procedure of the vendors
and suppliers, who can now receive payments swiftly and more
predictably. Additionally, VendorPay streamlines and amalgamates
detailed report and data for remittance and reconciliation for both
the institution and the vendor, thereby authenticating the whole
payment process.
WEX will benefit from the launch of this new VendorPay service,
which will allow it to reach out to a large number of educational
institutions and other organizations by teaming up with Higher One
in the U.S. Going ahead, we believe such strategic alliances and
joint venture deals should perk up WEX’s growth and help maintain
its competitive position against arch-rivals such as
FleetCor Technologies Inc. (FLT) and Total
System Services Inc. (TSS). Also, its pipeline of
international opportunities should help stimulate WEX’s
above-average growth.
Currently, WEX carries a Zacks #3 Rank, which implies a
short-term Hold rating.
FLEETCOR TECH (FLT): Free Stock Analysis Report
TOTAL SYS SVC (TSS): Free Stock Analysis Report
WEX INC (WXS): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
Flight Safety (AMEX:FLT)
Gráfico Histórico do Ativo
De Out 2024 até Nov 2024
Flight Safety (AMEX:FLT)
Gráfico Histórico do Ativo
De Nov 2023 até Nov 2024
Notícias em tempo-real sobre Flight Safety Technologies, da American Stock Exchange bolsa de valores: 0 artigos recentes
Mais Notícias de Flight Safety