[ WEX Bus... Reviews ](https://www.g2.com/products/wex-business-payments/reviews) [ WEX Bus... Reviews ](https://www.g2.com/products/wex-business-payments/reviews) # WEX Business Payments Features ##### ## Payment Methods (3) ACH Automated Clearing House (ACH) is an electronic network that processes large volumes of financial transactions, including B2B payments. Credit and Debit Corporate debit and credit cards used specifically for B2B payments Wire Transfer Electronic fund transfers between entities Show More ##### ## Payment Processing (6) Batch Processing Payments can be processed by batch without manual intervention Payments Scheduling Ability to schedule payments at predefined dates and times Automated Workflows Workflows to manage every stage of the payment process Self Service Self-service portals and mobile apps to submit invoices for processing Settlements Clearing of electronic payments to transfer funds from customers to suppliers Payment Tracking Track each stage of the payment process and manage payments history Show More ##### ## Security and Compliance (6) PCI Compliant Comply with information security standards for credit card processing P2PE Point-to-point encryption to convert sensitive financial information into indecipherable code Fraud Management Features to protect companies from attempts to steal sensitive information like credit card details SSL Encryption Secure Sockets Layer is the standard security protocol for encryption of electronic data SOX Comply with the Sarbanes-Oxley Act (SOX) to protect companies and the public from accounting erros and fraud SOC Ensure compliance with Association of International Certified Professional Accountants standards for cloud vendors SOC1 and SOC 2 Show More ##### ## Integration (6) Agnostic Integration The software can be integrated with any other products Reporting Consolidation Reports are generated using financial data from multiple sources Plugins and APIs The vendor provides pugins and APIs that customers can use to create custom integrations Accounting Provide integration with accounting and financial management software Payment Integration Integrate with payment gateways and enterprise payments software ERP Deliver integrations with accounting modules of ERP systems Show More ##### ## Setup (3) Data Consolidates procurement data from multiple systems such as ERP systems and supply chain suites. Approvals Define rules and workflows that managers can use to approve different kinds of spending. Alignment Align spending across various departments such as procurement and accounting. Show More ##### ## Performance (4) KPIs Provide standard spend KPIs that can be customized by users. Benchmarks Use historical spend data to create benchmarks per company or department. Forecasting Provide forecasts on future trends that may impact spending performance. Savings Identify savings opportunities per activity, department, or at the company level. Show More ##### ## Data Management (5) Consolidation Consolidate information from multiple sources or multiple entities Classification Classify information by category, supplier, or supplier External Sources Integrate with external sources for market intelligence Integration Integrates with ERP systems general ledgers for transfering of AP transaction data Cleaning Ability to cleanse and consolidate AP data Show More ##### ## Analytics (7) Benchmarking Provide benchmarking options for comparison with peers KPIs Include standard spending KPIs that can be customized Compliance Deliver reports for compliance purposes Errors Analysis that identifies errors in AP processes such as duplicate payments, anomalies, and fraud Due Dates Track invoices based on due dates to identify overdue payments Benchmarking Ability to compare AP automation metrics with other companies KPIs Monitor KPIs such as time to process an invoice or erroneous payments Show More ##### ## Invoice Management (2) Capture Provide features to capture invoices such as import or scanning Supplier Portal Allow suppliers to submit invoices using an online portal Show More ##### ## Invoice Processing (4) Matching Ability to match AP invoices to POs, contracts, or payments Payments Identify incomplete or late supplier payments Workflows Include workflows for approvals and invoice processing Tax Compliance Comply with local and global tax regulations for collections Show More ##### ## Payment Processing (4) Encryption Built-in security to protect payment information in order to prevent fraud and hacking. Credit Card Processing The ability to process credit card payments and receive approval or denial of funds from the customer's bank. Mobile Payments The ability to process mobile payments from a mobile wallet or other mobile phone payment app. Digital Wallet Integration The ability to process payments from a digital wallet service or other digital payment method. Show More ##### ## Administration (6) Reporting & Analytics Reports and analytics created from payment data. Processing Fees Fees associated with processing individual transactions that may be based on a percentage of the purchase or a flat rate. POS Integration The ability to integrate with a POS system in order to allow the processing of credit card or mobile payments in a store setting. Omnichannel Process payments from multiple channels such as ACH, mobile, or e-commerce. Levels 1 & 2 Supports levels 1 and 2 for credit card payment processing. Level 3 Supports level 3 credit card processing which requires additional data for qualification. Show More ##### ## Payment Options (2) Multi-Currency Allows users to process payments in multiple currencies. Online payment portal Provides an online portal where customers can make payments. Show More ##### ## Security (1) POS Verification Support cardholder verification methods for POS transactions. Show More ##### ## Platform (1) Accounting integration Provide integration with accounting software and ERP systems. Show More ##### ## Payment Types (1) AP Automation Manages large volumes of invoices and financial transactions between a company and its suppliers Show More ##### ## Risk (3) Analysis Reduces future risks through root cause analysis and process improvement Identification Reduces frequency of errors, identifies risk and improves efficiency Scoring Scores suppliers and employees based on risk factors Show More ##### ## Recovery (4) Recoup Identifies and recoups funds and prevents errors from happening again Reporting Offers reporting to aid in minimizing future lost profits and process breakdown Historical payments Approve, reject, or query historical payment transactions to identify anomalies Overpayments Recover overpayments, duplicate payments, or unused credits from suppliers Show More ##### ## Audit (4) Filters Includes a library of audit-tested filters to identify AP outliers that are outside company policy Post Audits Conducts a post-audit analysis of large volumes of data to identify historical payment errors and automatically generate claims Overpayments Detects and prevents a wide range of overpayment errors Duplicates Detects and prevents a wide range of duplicate payments Show More ##### ## Fraud (3) Vendor Checks Enables automatic checks of new vendors being set up in the system to combat potential billing schemes Data Generation Generates comprehensive data needed to conduct a thorough investigation Monitoring Provides continuous, proactive fraud monitoring across multiple systems and data formats Show More ##### ## AP Data Processing (3) Workflows Constantly evaluate AP transactions to optimize workflows Transparency Improves management oversight by reconciling external data against internal transaction data Controls Strengthens process controls by using analysis to proactively reduce errors before they happen and detect fraud risk Show More ##### ## Card Management (6) Card Types Manage multiple types of cards such as physical and virtual, debit and credit, or prepaid. Card Controls Allow users to activate cards, define spend limits, or change PIN codes. Card Personalization Personalize cards using logos, brand colors, and custom messaging, Configuration Define how cards can be used: single use, multi use, online, POS Fulfillment Track card fulfillment information such as orders, inventory, and shipping Replacement Manage replacements of stolen ,damaged, and lost cards. Show More ##### ## Controls (6) Tokenization Protect card data using algorithmically generated numbers (also known as tokens). Security Comply with Payment Card Industry Data Security Standard (PCI DSS) Card Networks Provide integration with card networks such as Visa and Mastercard Integration Integrate with software such as accounting, expense management, or banking. Testing Provide a sandbox to simulate and test payments cards and transactions APIs Deliver APIs for custom integrations and to exchange financial data with other applications. Show More ##### ## Payment Cards (3) One-time Virtual Online credit card number that can be instantly sent to employees and used for secure, one-time purchases Recurring Virtual Online credit card number that can be instantly sent to employees and used for secure, recurring payments, such as subscriptions or services Physical Physical credit cards used by employees for various expenses that allow management to monitor spending and budgets Show More ##### ## Reporting (4) Real time Report on spend transactions as they happen in real time Multiple Views Reports that allow the user to sort and filter by vendor, team, GL, department, etc. Export The ability to export reports in various formats, such as excel, CSV, and Google Sheets Budgets Report on and track spending against budgets Show More ##### ## Payments (4) Vendor Pay vendors through a dashboard or portal and maintain vendor payment information Recurring Manage and execute recurring payments, such as subscriptions, services, utilities, etc. Employee Reimbursements Reimburse an employee for all necessary expenditures or losses incurred by the employee within the employee's scope of employment ACH Allows for the electronic transfer of funds between banks Show More ##### ## Fraud & Risk Management (3) Notifications Real-time notifications for fraudulant and/or duplicate spending Unique Cards Individual, unique cards for each vendor to help manage duplicate and overpayments Controls Control spend limits, expiration dates, and lock and unlock stolen or lost cards Show More ##### ## Agentic AI - Spend Management (1) Proactive Assistance Anticipates needs and offers suggestions without prompting Show More ##### ## Agentic AI - Accounts Payable (AP) and Spend Analysis (1) Decision Making Makes informed choices based on available data and objectives Show More ##### ## Agentic AI - AP Automation (3) Autonomous Task Execution Capability to perform complex tasks without constant human input Proactive Assistance Anticipates needs and offers suggestions without prompting Decision Making Makes informed choices based on available data and objectives Show More ##### ## Agentic AI - Enterprise Payment (1) Adaptive Learning Improves performance based on feedback and experience Show More ## Top-Rated Alternatives [ ![Corpay Complete](https://images.g2crowd.com/uploads/product/hd_favicon/f172a583fbe726bd73f2948ecd4924ae/corpay-complete.svg "Corpay Complete") Corpay Complete 4.6/5 (386) ](https://www.g2.com/products/corpay-complete/reviews) [ ![BILL AP/AR](https://images.g2crowd.com/uploads/product/hd_favicon/5732d9e5c8486308f5159e2ec584bcfb/bill-ap-ar.svg "BILL AP/AR") BILL AP/AR 4.4/5 (1,780) ](https://www.g2.com/products/bill-ap-ar/reviews) [ ![Ramp](https://images.g2crowd.com/uploads/product/hd_favicon/6a582a4fcd932a8ba3e2d4d73af44e65/ramp-financial-ramp.svg "Ramp") Ramp 4.8/5 (2,430) ](https://www.g2.com/products/ramp-financial-ramp/reviews) [ View All Alternatives ](https://www.g2.com/products/wex-business-payments/competitors/alternatives) ## Technology Glossary Features View full feature definition View definitions of the features and discover new technology terms. [View Glossary](/glossary) [Online Payment](/glossary/online-payment-definition) Online payments are the exchange of monetary funds between buyers and sellers via the internet. This software feature helps perform a majority of purchases and sales conducted on the internet. [API](/glossary/api-definition) An application programming interface (API) serves as a link between disparate software and allows for an exchange of information between them. Learn more about how APIs work, and why they are crucial for software development. WEX Business Payments Comparisons ![Product Avatar Image](https://images.g2crowd.com/uploads/product/image/small_square/small_square_8afd8eecdd6fcba5f39c46a77f5ef50a/corpay-one.png "Product Avatar Image") Corpay One 4.2/5 (178) [ Compare Now ](https://www.g2.com/compare/corpay-one-vs-wex-business-payments) ![Product Avatar Image](https://images.g2crowd.com/uploads/product/image/small_square/small_square_b419d879f1565b869e8e240bb8295a67/bill-ap-ar.png "Product Avatar Image") BILL AP/AR 4.4/5 (1,807) [ Compare Now ](https://www.g2.com/compare/bill-ap-ar-vs-wex-business-payments) ![Product Avatar Image](https://images.g2crowd.com/uploads/product/image/small_square/small_square_52618aa98851d90c1ad01fc05b55d012/corpay-complete.png "Product Avatar Image") Corpay Complete 4.6/5 (387) [ Compare Now ](https://www.g2.com/compare/corpay-complete-vs-wex-business-payments) ##### Categories on G2 [ AP Automation ](https://www.g2.com/categories/ap-automation)[ Spend Management ](https://www.g2.com/categories/spend-management)[ Payment Processing ](https://www.g2.com/categories/payment-processing) [ Enterprise Payment ](https://www.g2.com/categories/enterprise-payment)[ Payment Card Issuance ](https://www.g2.com/categories/payment-card-issuance)[ Procurement Spend Analysis ](https://www.g2.com/categories/procurement-spend-analysis) Show More ##### Explore More [ What are the best enterprise mobility management solutions for managing thousands of corporate smartphones and tablets securely? ](https://www.g2.com/discussions/what-are-the-best-enterprise-mobility-management-solutions-for-managing-thousands-of-corporate-smartphones-and-tablets-securely)[ Top tools for optimizing cloud spend ](https://www.g2.com/discussions/what-are-the-top-tools-for-optimizing-cloud-spend)[ What's the best accounting solution for a growing business ](https://www.g2.com/discussions/what-s-the-best-accounting-solution-for-a-growing-business) [ Which vendor supports offline access to notes across devices? ](https://www.g2.com/discussions/which-vendor-supports-offline-access-to-notes-across-devices)[ Best-rated CPQ platforms for startups ](https://www.g2.com/discussions/what-are-the-best-rated-cpq-platforms-for-startups)[ Pros and Cons Details ](https://www.g2.com/products/wex-business-payments/reviews?qs=pros-and-cons) Show More [ What are the best enterprise mobility management solutions for managing thousands of corporate smartphones and tablets securely? ](https://www.g2.com/discussions/what-are-the-best-enterprise-mobility-management-solutions-for-managing-thousands-of-corporate-smartphones-and-tablets-securely)[ Top tools for optimizing cloud spend ](https://www.g2.com/discussions/what-are-the-top-tools-for-optimizing-cloud-spend)[ What's the best accounting solution for a growing business ](https://www.g2.com/discussions/what-s-the-best-accounting-solution-for-a-growing-business) [ Which vendor supports offline access to notes across devices? ](https://www.g2.com/discussions/which-vendor-supports-offline-access-to-notes-across-devices)[ Best-rated CPQ platforms for startups ](https://www.g2.com/discussions/what-are-the-best-rated-cpq-platforms-for-startups)[ Pros and Cons Details ](https://www.g2.com/products/wex-business-payments/reviews?qs=pros-and-cons)