WEX and MyFlightSolutions Introduce All-in-One Virtual Card Payment Solution

WEX and MyFlightSolutions Introduce All-in-One Virtual Card Payment Solution
31.10.2016 12:00 pm

WEX and MyFlightSolutions Introduce All-in-One Virtual Card Payment Solution

Payments

WEX Inc., a leading provider of corporate payment solutions, and MyFlightSolutions, an innovative leader in aviation software, announce the launch of a new all-in-one virtual payments application called My CopilotTM. The My CopilotTM app offers innovative new technology and maximum flexibility for pilots and aviation industry professionals, such as fixed-base operators (FBOs), international trip-planning companies, fuel distributors and more.

"Enabling operators to quickly and automatically reconcile a pilot's trip expenses is groundbreaking for aviation businesses," explained Jim Pratt, SVP, general manager, WEX Virtual Payments. Another benefit of My CopilotTM is the ability to automate the receipt tracking process so that users no longer need to manually keep track of unwieldy copies of receipts for approved expenses. "Simply put, this app means that pilots will 'free up' their wallets, which are usually chock-full of fuel credit cards," notes Pratt. "Plus, aircraft operators no longer need to worry about losing track of cumbersome paper releases in order to buy fuel."

The app generates a single-use Mastercard® payment solution for all purchases of fuel and FBO services, as well as transportation, commercial airfare and hotel expenses anywhere Mastercard® is accepted globally.

Virtual payment solutions help drive down costs and increase productivity, resulting in bottom-line savings. For merchants, the My CopilotTM app requires no new processes or integrations because transactions are processed as traditional Mastercard® credit cards at the point of sale.

Additional My CopilotTM features include:

  • Implement easily without additional hardware or software
  • Capture quality data and enables robust and insightful reports
  • Establish transaction- or trip-specific controls
  • Assign purchases to cost centers or general ledger accounts
  • Reduce fraud and credit card misuse
  • Access accounts anytime, from anywhere, even on mobile devices

"The My CopilotTM app and WEX's virtual payment solutions have flexible application program interface (API) capabilities, which empowers aviation operations to seamlessly integrate the solution into current fuel order, scheduling, accounts payable or global distribution systems (GDS)," said Tom Perkins, president, MyFlightSolutions, a Flying Software Labs company. "We're extremely proud to be part of My CopilotTM's innovative technology, which is unavailable elsewhere in the market today."

Featuring robust data and receipt capture technology, the My CopilotTM app sends real-time information to connect the entire flight department. The app also allows users to generate single-use Mastercard® payment solutions without release (within corporate-controlled parameters), which means no delayed or stranded pilots.

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