Overview
WEX Inc. is a payments technology and financial services platform for fleet operators, employers, and corporate payment programs. The company provides fleet fuel card networks, employee benefits administration, and B2B virtual card solutions to businesses, government agencies, health plans, and travel industry customers across five continents. Founded in 1983 in South Portland, Maine as a regional energy company (A.R. Wright), WEX evolved into fleet card payments before expanding into health benefits and corporate payments.
The platform combines proprietary payment networks with SaaS-based benefits administration and virtual card issuance. Fleet solutions cover 95% of U.S. fueling stations, EV charging networks, GPS telematics, and driver analytics. The benefits segment handles HSAs, FSAs, HRAs, COBRA, and commuter benefits for employers and Medicare Advantage plans. The corporate payments segment processes B2B transactions for travel agencies, airlines, insurance carriers, and fintech companies through virtual card technology and AP automation.
WEX is publicly traded on the NYSE (ticker: WEX) and reported full-year 2025 revenue of USD 2.66 billion with adjusted free cash flow of USD 638 million. The company serves hundreds of thousands of fleet and benefits customers globally, with enterprise partnerships including BP, Chevron, and Nuvei.
Products & Services
Fleet Payments & Mobility
Commercial fleet fuel card program accepted at 95% of U.S. fueling stations and EV charging networks. Includes the ClearView Advanced GPS telematics platform for real-time vehicle tracking, fuel cost analytics, driver safety reporting, and roadside assistance. Manages 20+ million business vehicles globally.
Key Features
- Fuel cards accepted at major gas station chains and EV charging networks
- ClearView Advanced telematics for real-time tracking and driver insights
- Data analytics for fuel cost optimization and compliance reporting
Target Users: Commercial and government fleet operators
Employee Benefits Administration
SaaS-based benefits platform for employers, health plans, and public sector organizations. Manages Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), VEBA accounts, commuter benefits, COBRA administration, direct billing, and non-discrimination testing.
Key Features
- WEX benefits card for eligible expense payments at point of purchase
- Open enrollment and real-time eligibility management
- Medicare Advantage plan administration and government agency support
Target Users: Employers, health insurers, Medicare Advantage plans, government agencies
Corporate Payments
Virtual card issuance and accounts payable automation for B2B transactions. Serves travel (online travel agencies, airlines, hospitality), fintech, insurance, consumer bill pay, and media verticals. Integrated with Nuvei global merchant network for virtual card acceptance.
Key Features
- Virtual card issuance and single-use card controls
- Accounts payable automation and supplier enablement
- REST-based payments API for fintech and travel platform integrations
Target Users: Online travel agencies, airlines, insurance carriers, fintech platforms
WEX Bank
Wholly owned banking subsidiary supporting WEX payment programs and financial services operations.
At a Glance
- Founded
- 1983
- Headquarters
- Portland, Maine, USA
- Employees
- 1000+
- Funding
- Public (NYSE: WEX)
Category & Focus
- Category
- Payments Technology
- Subcategories
- Fleet Payments Employee Benefits Administration Virtual Cards B2B Payments
- Insurance Verticals
- Health Group Benefits
- Target Customers
- Carriers, Employers, TPAs, Brokers
Customers
- BP (long-term U.S. commercial fleet card agreement)
- Chevron (fuel card network)
- Paychex (benefits and HR integration)
- Fifth Third Bancorp (financial services)
- GasBuddy (fleet fuel savings)
- Costco Travel
- Mastercard (executive partnership)
Links
Last updated: 2026-04-09