Corporate payment solutions provider WEX Inc. has signed a long-term agreement with CITGO Petroleum Corp. to provide that company with private label and co-branded universal fleet card services.
WEX will issue fleet cards, provide payment-related services to CITGO customers, and convert CITGO’s fleet card portfolio to its platform. According to WEX, this will provide customers with a range of solutions for managing their fleets and related fuel purchases.
The new program will include a rebate offer on CITGO fuel through a single-branded proprietary fleet card accepted only at CITGO locations and a co-branded universal fleet card that will be accepted at more than 150,000 fuel and service locations in the U.S.
WEX and CITGO plan to build a sales and marketing program for direct sales and stated they will support the local efforts of CITGO marketers and retailers.