WEX, a company with more than 30 years’ experience in the global market of corporate payment solutions, and Raízen, licensee of the Shell brand in Brazil, have established a partnership for gas stations to begin accepting the WEX Frete card as an electronic payment method for independent truckers. According to market estimates, the segment amounts to BRL 100 billion/year in revenues in Brazil.
Through this partnership, WEX believes it will be able to cause a reduction in direct costs for highway cargo transport throughout the country’s entire logistics chain. In turn, Raízen expects a potential increase in fuel sales at Shell stations, precisely due to the benefits offered by the WEX solution to independent drivers who currently represent more than 50% of the volume consumed at gas stations.
WEX possesses one of the most advanced payment platforms, standing out for promoting the financial inclusion of workers who do not have full access to the full range of banking services offered by financial institutions. Through this partnership, the 60,000+ truckers that already utilize the WEX Frete card can now also be served at newly licensed Shell gas stations, where they can benefit from all the advantages of Shell’s loyalty platform Clube Irmão Caminhoneiro Shell, which celebrates its 30thanniversary this year.
The partnership was announced during Raízen’s Annual Sales Convention, which took place on April 10-13 with more than 2,000 Shell retailers at Praia do Forte, Bahia, Brazil.
For the CEO of WEX in Latin America, José Roberto Kracochansky, Brazil is one of the biggest markets with potential for migrating traditional payment methods to electronic and, in the case of freight payments, this migration is still at a very incipient stage. “Since becoming regulated, electronic freight payment has seen a very slow adoption rate, since it hadn’t yet found a balance in the commercial relationship between truckers, transporters and gas stations. We believe that through this partnership, we will precisely achieve this objective.”
For Andreas Lips, Highways and Diesel Manager at Raízen, the partnership provides a strong competitive advantage, as well as an excellent opportunity for truckers to improve the payment security and their routine at gas stations. “With this new product, we hope to provide greater profitability to our Shell retailers, greater control over sales and more volume. The objective is also to expedite, reduce costs and offer greater safety to truckers when refueling,” said Andreas.