WEX Inc. has signed an agreement with Shell to process the petroleum company's new prepaid fuel card transactions from its commercial fleet business in Europe and Asia.

The South Portland, Maine-based company has been working on expanding its services to a variety of industries. "This new relationship underscores the relative quality and innovation of our fleet products and signifies an exciting step in our long-term growth strategy," said Melissa D. Smith, president and CEO of WEX.

In June, WEX announced its aquisition of a health care payment company in North Dakota. Since its inception in 1983, WEX has grown into a company serving 7.8 million cardholders.