Fintech MYOB & WEX partner to deliver B2B payments in Australia

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fintech b2b payments | iTMunch

MYOB, an Australian fintech MNC has announced a partnership with WEX, a US-based fintech services provider. Through this partnership, the two companies aim to deliver B2B payments for Aussie businesses. The partnership will give WEX customers access to the business payment platform of MYOB to make payments to their suppliers through WEX virtual credit cards.

Using the MYOB solution, customers of WEX will be able to enjoy a more efficient and seamless payment experience, even if suppliers do not accept virtual credit cards. It doesn’t even require the supplier to make any changes to how they receive payments.

MYOB & WEX on collaborating

General Manager Financial Services of MYOB, Andrew Baines said that the cashflow is absolutely critical for their  businesses and this partnership with WEX will provide its customers with more choice in payment options. It will also allow more flexibility than ever to choose a solution that works best for their business at a specific point moment in time. 

The B2B payment capability of WEX will complement the effective business payment platform of MYOB and they’re delighted to offer this seamless experience to its customers in Australia. Director of Business Development & Partnerships EMEA & APAC at WEX, Justin Cross said that the corporate payments business of WEX is continuously working with innovative brands such as MYOB to support growth of local businesses and ensure payments aren’t an afterthought. WEX is committed towards growing with Australian businesses and brands by helping them in building their financial infrastructure and offering a seamless customer experience via simplified payment transactions.

SEE ALSO: Aussie BNPL Beforepay raises $9 million in pre-IPO funding round

About Aussie fintech MYOB

MYOB is a pioneering business platform whose core purpose is to help more Australian and Kisi businesses start, survive and thrive. At the heart of MYOB, there’s a customer base of about 1.2 million businesses along with a network of over 40,000 accountants, consultants and bookkeepers for whom the fintech firm delivers end-to-end accounting and business solutions. MYOB majorly operates across 4 key areas: Enterprise, Small and Medium Enterprises (SME), Financial Services and Practice.

Operating on the belief that complex fintech payment systems can be made quite simpler, NY stock exchange listed WEX is a leading fintech services provider spread across a wide spectrum of sectors including travel, fleet and healthcare. WEX currently operates in over 10 countries and in about 20 currencies through approx. 5,000 associates around the glove. WEX fleet cards offer 15 million+ vehicles groundbreaking payment security and control. It’s purchase volume in travel along with corporate solutions grew to almost $40 billion in the year 2019. Moreover, its Health financial technology platform has helped 390,000+ employers and over 32 million consumers manage healthcare expenses in a more effective way.

SEE ALSO: Intiger Group acquired Sydney-based fintech Complii

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