KUALA LUMPUR, Oct 10 (Bernama) -- WEX Inc -- a corporate payment solutions provider -- partners with Payment Logic, Melbourne-based FinTech to automate the car registration renewal process for businesses in Australia.
“Our partnership with Payment Logic is an important step towards Accounts Payable (AP) automation, allowing Fleet Leasing Companies and AP departments to reduce the cost of manual processing of car registration payments,” said Director, Market Development APAC Corporate Payments for WEX, Justin Cross.
Payment Logic has developed a Robotic Process Automation (RPA) solution coupled with WEX virtual payments to enable the automation and payment of the car registration renewal process for fleets of vehicles, a statement said.
The solution takes a file of car registrations and, in an automated fashion, inserts a virtual card payment and enters the registration renewal without any manual input by the fleet owner, manager or administrator.
The 2018 ACA Research Corporate Fleet Insights Report estimated that there are 19,000 businesses operating fleets with 20 or more vehicles with a total of 2,162,000 vehicles in Australia.
WEX Management estimates that within a Fleet Leasing Company, the end-to-end car registration renewal process can take up to 12 minutes each time, or more than 430,000 hours per year across the fleet segment noted.
WEX operates in more than 10 countries and in more than 20 currencies through more than 3,500 associates around the world. More details on www.wexinc.com.
-- BERNAMA
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