WEX Profile
WEX Inc., headquartered in Portland, Maine, operates as a global provider of financial technology services, serving a diverse client base across the United States and internationally. Organized into three core segments Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions the company offers specialized payment processing and management solutions tailored to distinct market needs.
The Fleet Solutions segment is dedicated to delivering comprehensive fleet vehicle payment processing services. This includes customer and account management services, authorization and billing inquiries, credit and collections, as well as merchant services. WEX Inc. enhances fleet management capabilities through its web-based data analytics platform, empowering fleet managers with valuable insights to optimize expenses and capital utilization.
In the Travel and Corporate Solutions segment, WEX provides innovative payment solutions such as embedded payments, virtual cards, and accounts payable automation. These offerings cater directly to commercial and government organizations seeking efficient spend management solutions. Virtual cards, particularly, facilitate secure transactions where physical cards are not presented, enhancing convenience and security.
The Health and Employee Benefit Solutions segment focuses on healthcare payment products and software-as-a-service platforms tailored for the healthcare market. Additionally, it offers payroll-related and employee benefit solutions in Brazil. WEX Inc. markets these solutions through partnerships with health plans, third-party administrators, financial institutions, payroll companies, benefits consultants, software providers, and individual consumers.
Founded in 1983 as Wright Express Corporation and rebranded as WEX Inc. in October 2012, the company continues to innovate in financial technology, leveraging its deep industry expertise to drive operational efficiency and enhance client satisfaction globally.
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