WEX Inc. and AnchorOps Launch Virtual Payment Solution for Ad and Media Agencies

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AnchorOps ePay streamlines transactions with media vendors, improves agency profit margins.

WEX Inc. (NYSE: WEX), a leading provider of corporate payment solutions, today announced it has partnered with AnchorOps, Inc., a solutions provider for the advertising and media industry, to launch AnchorOps ePay, a customized payment solution for advertising and media buying agencies. The solution provides the media industry with the ability to manage payment transactions through one software solution.

“As the pioneer in developing a virtual payment solution more than a decade ago, WEX is continuing to strategically grow in markets where there is a real need, including the media industry,” said Jim Pratt, general manager of global virtual payments at WEX. “AnchorOps' proven adeptness with media reconciliation and its emphasis on driving operational efficiencies make for a natural partnership.”

Designed to streamline the agencies’ payables, AnchorOps ePay eliminates paper check disbursements to media vendors, and it offers those vendors and suppliers an option to receive their payments faster and more predictably. Additionally, AnchorOps ePay provides secure storage of vendor data and payment preferences, and it combines detailed reporting and data for remittance and reconciliation for both the institution and the vendor.

“Our overarching objective is to improve agency profit margins through innovative solutions. We also understand a unique collaborative relationship exists between agencies and media properties, which is why we designed this solution as a win/win for both parties,” said David Frogel, president of AnchorOps. “AnchorOps is excited to tap into WEX's deep experience with payments technology, and deliver this unique platform to the advertising industry.”

About WEX Inc.

WEX Inc. (NYSE: WEX) is a leading provider of corporate payment solutions. From its roots in fleet card payments beginning in 1983, WEX has expanded the scope of its business into a multi-channel provider of corporate payment solutions representing more than 7.6 million cardholders and offering exceptional payment security and control across a wide spectrum of business sectors. The Company’s operations include WEX Bank, Fleet One, Pacific Pride, rapid! PayCard, Wright Express Australia, Wright Express New Zealand and CorporatePay Limited, England, as well as a majority equity position in UNIK S.A., Brazil. WEX and its subsidiaries employ more than 1,300 associates. For more information about WEX, please visit http://www.wexinc.com.

About AnchorOps, Inc.

AnchorOps partners with advertising and media agencies to improve profit margins through software, services and financial solutions. AnchorOps solutions include OpsPulse: Media Reconciliation, which handles over $1B in media invoices annually, AnchorOps ePay, Agency Operations Audits, Systems Integration and Custom Software Development. AnchorOps is located in Westborough, MA and employs more than 25 people globally. For more information about AnchorOps, please visit http://www.anchorops.com.

SOURCE: WEX Inc.

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