WEX Inc., a global provider of industry-leading corporate payments solutions, announced a 10-year extension of its North American fleet card contract with Exxon Mobil Corporation (NYSE: XOM) and Imperial Oil, whose managing partner is Imperial Oil Limited.
Under the agreement, WEX will continue to provide ExxonMobil and Imperial with a full-service solution in which WEX oversees all aspects of the commercial card program for ExxonMobil in the United States and Imperial in Canada, including outsourced proprietary fleet card transaction processing and other supplementary support services. As part of this agreement, WEX will continue to manage sales and marketing activities as well as portfolio funding services. Furthermore, WEX’s focus on new technologies and innovation will benefit proprietary cardholders frequenting Exxon, Mobil and Esso sites.
“WEX is excited to continue its 17-year relationship with ExxonMobil and Imperial, supporting the growth of ExxonMobil’s and Imperial’s commercial portfolio in the coming years,” said Melissa Smith, WEX’s President and Chief Executive Officer. “The contract extensions will also benefit ExxonMobil and Imperial customers, who can take advantage of WEX’s world-class products and services.”
Aside from the U.S. and Canadian relationship, WEX acquired ExxonMobil’s European commercial fuel card portfolio, Esso Card, and processing services for the Asia Pacific commercial card portfolio in 2014.
