WEX Inc. is a provider of payment processing and information management services to the United States commercial and government vehicle fleet industry. The Company provides services in the United States, Canada, New Zealand, and Australia.
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Operations
Starting as a fleet card provider in 1983 as Wright Express, WEX Inc. expanded to facilitate corporate payments across the fleet, travel and healthcare industries.
WEX Fleet provides vehicle fleet customers with fuel cards and data and telematics offerings for drivers. In 2012, WEX Fleet acquired Fleet One to provide fleet cards to drivers. WEX Fleet also partners with GasBuddy, OnDeck, and Chevron , among other companies, to provide services to customers. In 2017, WEX Fleet launched a new telematics platform, ClearView Advanced.
The travel segment, WEX Virtual, helps online travel agencies facilitate cross-border payments through virtual cards, allowing online travel agencies to automate back-end accounting practices. WEX Virtual launched in 2000 in support of customers including HitchHiker, HotelTonight, Expedia, and Priceline.
In 2014, WEX acquired Evolution1, a cloud-based health industry payments provider, later renaming it to WEX Health. WEX Health Cloud helps to administer HSAs, HRAs, FSAs, VEBAs, COBRA, defined-contribution, wellness plans, and transit plans. Some partners include Fifth Third Bancorp, Paychex, HSA Bank, and Discovery Benefits.
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References
Source of the article : Wikipedia
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