Printer Friendly Version View printer-friendly version
<< Back

WEX Inc. Answers Southeast Asia’s Call for Superior Card Management

SOUTH PORTLAND, Maine--(BUSINESS WIRE)--Oct. 12, 2016-- WEX Inc. (NYSE: WEX), a leading global provider of industry-leading corporate payments solutions, today announced that it has completed the successful conversion and migration of ExxonMobil’s fleet card customers in Hong Kong and Macau from a legacy platform to WEX’s International Fleet Card System (IFCS). As a result of this activity, the company is now providing a strategic fleet card management solution for ExxonMobil in these markets, plus Guam, Saipan and Singapore.

This WEX offering incorporates card processing capabilities along with integrated collections, credit and customer service. In support of this program, WEX has established a multilingual call center in Australia to support customer service across all of these markets.

“ExxonMobil is pleased to complete this modernization of our fuel card offerings in these key Southeast Asia markets,” said Bill Waite, Global Payment and Loyalty Solutions and Operations Manager at ExxonMobil Fuels, Lubricants and Specialties Marketing Company.

“WEX offers a modern, customizable architecture with great flexibility in answering customer needs for today and the future,” said George Hogan, International Senior Vice President at WEX. “The range of products we offer in the Southeast Asia region is just the beginning. We look forward to expanding the use of the proven capabilities and flexibility of the IFCS fuel card platform in additional markets around the world.”

Forward-Looking Statements
This news release contains forward-looking statements, including statements regarding: the range of products offered and to be offered and the locations for those offerings; plans for expansion; and, the capabilities of the IFCS fuel card platform. Any statements that are not statements of historical facts may be deemed to be forward-looking statements. When used in this new release, the words "may," "could," "anticipate," "plan," "continue," "project," "intend," "estimate," "believe," "expect,” “look forward to," and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such words. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially, including: the effects of general economic conditions on fueling patterns as well as payment and transaction processing activity; the impact of foreign currency exchange rates on the Company’s operations, revenue and income; changes in interest rates; the impact of fluctuations in fuel prices; the effects of the Company’s business expansion and acquisition efforts; potential adverse reactions or changes to business or employee relationships, including those resulting from the completion of an acquisition; competitive responses to any acquisitions; uncertainty of the expected financial performance of the combined operations following completion of an acquisition; the ability to successfully integrate the Company's acquisitions, specifically, the Electronic Funds Source LLC's operations and employees; the ability to realize anticipated synergies and cost savings; unexpected costs, charges or expenses resulting from an acquisition; the Company's failure to successfully operate and expand ExxonMobil's European and Asian commercial fuel card programs; the failure of corporate investments to result in anticipated strategic value; the impact and size of credit losses; the impact of changes to the Company's credit standards; breaches of the Company’s technology systems and any resulting negative impact on our reputation, liabilities or relationships with customers or merchants; the Company’s failure to maintain or renew key agreements; failure to expand the Company’s technological capabilities and service offerings as rapidly as the Company’s competitors; the actions of regulatory bodies, including banking and securities regulators, or possible changes in banking or financial regulations impacting the Company’s industrial bank, the Company as the corporate parent or other subsidiaries or affiliates; the impact of the Company’s outstanding notes on its operations; the impact of increased leverage on the Company's operations, results or capacity generally, and as a result of potential acquisitions specifically; financial loss if the Company determines it necessary to unwind any derivative instrument positions prior to the expiration of a contract; the incurrence of impairment charges if our assessment of the fair value of certain of our reporting units changes; the uncertainties of litigation; as well as other risks and uncertainties identified in Item 1A of our annual report on Form 10-K for the year ended December 31, 2015, filed on February 26, 2016, and Item 1.A. of Part II of the quarterly report on Form 10-Q filed on April 28, 2016, both with the Securities and Exchange Commission. The Company's forward-looking statements do not reflect the potential future impact of any alliance, merger, acquisition, disposition or stock repurchases, other than the acquisition. The forward-looking statements speak only as of the date of this news release and undue reliance should not be placed on these statements. The Company disclaims any obligation to update any forward-looking statements as a result of new information, future events or otherwise.

About WEX Inc.
WEX Inc. (NYSE: WEX) is a leading provider of corporate payment solutions. From its roots in fleet card payments beginning in 1983, WEX has expanded the scope of its business into a multi-channel provider of corporate payment solutions representing approximately 10 million vehicles and offering exceptional payment security and control across a wide spectrum of business sectors. WEX serves a global set of customers and partners through its operations around the world, with offices in the United States, Australia, New Zealand, Brazil, the United Kingdom, Italy, France, Germany, Norway, and Singapore. WEX and its subsidiaries employ more than 2,500 associates. The Company has been publicly traded since 2005, and is listed on the New York Stock Exchange under the ticker symbol “WEX.” For more information, visit and follow WEX on Twitter at @WEXIncNews.

Source: WEX Inc.

Rob Gould, +1 207-523-7429