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WEX Inc. (NYSE: WEX) is a global leader in corporate payment solutions designed to enhance business efficiency, security, and cost control. Founded in 1983 with a focus on fleet card payments, WEX has since diversified its offerings to encompass a wide array of corporate payment solutions, serving millions of cardholders across various sectors, including travel, healthcare, and employee benefits.
The company operates in three main segments: Mobility, Benefits, and Corporate Payments. The Mobility segment, which generates the highest revenue, offers fleet vehicle payment solutions, transaction processing, and information management services for both commercial and government fleets. The Corporate Payments segment provides business-to-business payment processing and transaction monitoring services. The Benefits segment focuses on healthcare payment products and a consumer-directed software platform.
WEX has a significant presence across North and South America, Europe, Australia, New Zealand, and Asia, employing over 2,000 associates. The company is committed to delivering exceptional payment security and control, ensuring that businesses of all sizes can operate efficiently and profitably.
Recent achievements highlight WEX's commitment to innovation and industry leadership. The company has filed a federal lawsuit against HP Inc. and Hewlett-Packard Development Company, L.P. for trademark infringement. This legal action underscores WEX's dedication to protecting its brand and intellectual property rights.
For more detailed information and the latest updates, visit WEX Inc.
WEX announces the appointment of
WEX announced the appointment of
UMB Healthcare Services, a prominent national HSA provider, has launched a comprehensive suite of tax-advantaged benefit accounts to enhance its offerings. This includes flexible spending accounts, health reimbursement arrangements, and commuter benefit accounts, all powered by WEX. The initiative aims to streamline benefit administration for employers while providing employees with advanced financial wellness tools and secure member portals for claims and reimbursements. UMB currently manages over 1.4 million HSAs with assets exceeding $3 billion.
WEX Inc. (NYSE:WEX), a leader in financial technology services, announced that CEO Melissa Smith will present at the Citi 2021 Financial Technology Virtual Conference on November 16, 2021, at 11:15 AM EST. The presentation can be accessed via a live webcast on the company's Investor Relations website. An audio replay will be available for 90 days post-event. WEX provides diverse payment solutions across sectors like fleet and corporate payments, employing around 5,400 people globally.
WEX announced a reorganization of its Executive Leadership Team, effective
WEX reported Q3 2021 financial results showing significant growth, with total revenue up 26% year-over-year to $482.8 million. This growth was driven by a recovery in customer spending amid COVID-19 impacts and new customer acquisitions. Total purchase volume reached an all-time high of $26 billion, increasing 93%. Net income improved to $48.3 million from a loss of $65.8 million a year prior, translating to $1.07 per diluted share. WEX also provided optimistic guidance for Q4 and the full year 2021, estimating revenue between $468 million and $483 million.
B2B Fintech Stampli has launched the Stampli Card, integrated into its AP Automation platform, to tackle the issue of "Shadow Spend" in corporate finance. This innovation allows Accounts Payable (AP) teams to manage credit card transactions seamlessly, offering features like on-demand card issuance and automated matching of receipts to transactions. With a focus on improving visibility and control over company spending, the Stampli Card aims to streamline the procure-to-pay process. Additionally, WEX facilitates its payment solutions.
WEX Inc. (NYSE: WEX), a leader in financial technology services, will release its third-quarter 2021 financial results on October 28, 2021, before market opening. CEO Melissa Smith and CFO Roberto Simon will discuss the results during a conference call at 10:00 A.M. EDT, accessible via the company's website or by phone. A replay will be available after the call until November 23, 2021.
WEX announced its third annual National Health Savings Account Awareness Day (HSA Day) on October 15, 2021, aimed at equipping HR teams with essential resources for promoting health savings accounts (HSAs).
The virtual event will feature podcasts and webinars, including guest insights on HSAs’ potential for enhancing employee benefits, particularly amid the ongoing 'great resignation'. WEX emphasizes the importance of HSAs in employee retention and productivity, highlighting the significance of effective health and financial wellness solutions.
WEX and ChargePoint have expanded their partnership to deliver an integrated electric vehicle (EV) charging solution for mixed fleets that include internal combustion engine vehicles. This collaboration aims to help fleet managers reduce their carbon footprints and manage expenses through a seamless end-to-end solution. The partnership will provide access to a large public EV charging network, enabling on-route, depot, and at-home charging options. Customers will benefit from centralized reporting and billing, real-time energy usage data, and support for driver reimbursement.
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