WEX, ExxonMobile Extend Fleet Card Deal
WEX and ExxonMobile have agreed to extend their partnership to offer fleet payment cards for another 10 years, the two company announced Oct. 27. WEX has also extended an agreement with Imperial Oil Limited.
“WEX is excited to continue its 17-year relationship with ExxonMobil and Imperial, supporting the growth of ExxonMobil’s and Imperial’s commercial portfolio in the coming years,” said WEX President and CEO Melissa Smith in a statement. “The contract extensions will also benefit ExxonMobil and Imperial customers, who can take advantage of WEX’s world-class products and services.”
WEX offers commercial credit cards that help fleet mangers track spending by drivers on fuel, maintenance, and other expenses.
The extension of the partnership comes two years after WEX acquired ExxonMobile's European commercial card businesses, Esso Card, and processing services for the Asia Pacific commercial card portfolio.
Its extension of the ExxonMobil partnership follows two years after acquiring the oil giant’s commercial fleet card portfolio, Esso Card, in Europe, as well as its card processing operations in the Asia-Pacific region.
In their collaboration, WEX offers its commercial card solution for ExxonMobil in the U.S. and for Imperial in Canada, including card processing and add-on services, like spend analytics. WEX also heads the marketing and sales efforts, reports said.