WEX Inc. provides corporate payment solutions. The company provides products and services that meet the needs of businesses in various geographic regions, including North and South America, the Asia Pacific, and Europe. The company markets its products and services directly, as well as through strategic relationships, which include major oil companies, fuel retailers, and vehicle maintenance providers. The company’s U.S. operations include its wholly-owned subsidiaries, such as WEX Bank; WEX FleetOne; EB Holdings Corp. and its subsidiaries, such as Evolution1, Inc.; and Benaissance. The company’s international operations include its wholly-owned subsidiaries, such as WEX Fuel Cards Australia, WEX Prepaid Cards Australia, WEX New Zealand, WEX Europe Limited, UNIK S.A., and a majority equity position in WEX Europe Services Limited and its subsidiaries. Segments The company operates in three business segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. Fleet Solutions segment This segment provides customers with fleet vehicle payment processing services specifically designed for the needs of commercial and government fleets. As of December 31, 2015, the company provided fleet vehicle payment processing services with approximately 9.4 million vehicles using its fleet payment solutions to purchase fuel and maintenance services. The company delivers security through individualized driver identification and real-time transaction updates, purchases controls and reporting tools. The company collects a range of information at the point of sale, including the amount of the expenditure, the identity of the driver and vehicle, the odometer reading, the identity of the fuel or vehicle maintenance provider and the items purchased. The company uses this information to provide customers with analytical tools to help them manage their vehicle fleets and control costs. The company delivers value to its customers by providing customized offerings for accepting merchants, processing payments and providing information management products and services to fleets. The company’s proprietary closed-loop networks allow the company to provide its customers with detailed, fleet-specific information and customized controls that are not typically available on open-loop networks, such as limiting purchases to fuel only and restricting the time of day and day of the week when fuel is purchased. The company’s network also enables it to avoid dependence on third-party processors. In addition, the company’s relationships with both fleets and merchants enable it to provide security and controls and provide customizable reporting. Products and Services In 2015, the company processed approximately 343 million payment processing transactions. The company offers the following services: Customer Service, Account Activation and Account Retention: The company offers customer service, account activation and account retention services to fleets and fleet management companies and the fuel and vehicle maintenance providers on its network. The company’s services include promoting the adoption and use of its products and programs and account retention programs on behalf of its customers and partners. Authorization and Billing Inquiries and Account Maintenance: The company handles authorization and billing questions, account changes and other issues for fleets through its customer contact centers, which are available 24 hours a day, 7 days a week. Fleet customers also have self-service options available to them through the company’s Websites. Premium Fleet Services: The company assigns designated account managers to businesses and government agencies with large fleets. Credit and Collections Services: The company has developed proprietary account approval, credit management and fraud detection programs. The company’s underwriting model produces a proprietary score, which it uses to predict the likelihood of an account becoming delinquent within 12 months of activation. The company also uses a credit maintenance model to manage ongoing accounts, which helps the company to predict the
wex inc (WEX:New York Consolidated)
225 Gorham Road
South Portland, ME 04106
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