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WEX Inc.

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WEX
Public
Traded as NYSEWEX
Founded 1983
Headquarters South Portland, Maine, United States
Key people
Melissa D. Smith
(President)
(CEO)

Steven Elder
Senior Vice President and Chief Financial Officer[1]
Products fleet cards, corporate payments, virtual card
Revenue USD 393.58; million (2008)[2]
USD 161.43; million (2008)[2]
USD 127.64; million (2008)[2]
Number of employees
~700 (2009)[3]
Website www.wexinc.com

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.

Operations

The Company’s operations are organized into two segments: Fleet and MasterCard. The Fleet segment provides customers with payment processing services for vehicle fleet industries. The MasterCard segment provides customers with payment processing for the purposes of corporate purchasing and transaction monitoring. The Company’s wholly owned banking subsidiary, WEX Bank approves the customer applications and owns the customer relationships for the fuel and maintenance programs, and offers MasterCard-branded corporate payments.[2]

The Company’s operations include WEX Bank, Fleet One, Pacific Pride, rapid! PayCard, WEX Australia, WEX 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 1,400 associates.

References