WEX Extends Fuel Discounts to Independent Truckers, Grows Offerings with Launch of 10-4 by WEX
WEX has launched 10-4 by WEX, a free mobile app providing fuel discounts to independent truckers and small trucking companies in the U.S. This expands WEX's addressable market in its Mobility segment. The app requires no credit checks or applications; users simply upload their debit or credit card to start saving.
Key features include:
- Secure transactions at the pump with no fees
- Access to a growing discount network of U.S. truck stops
- Potential for significant savings on diesel fuel, which accounts for about a third of truckers' expenses
10-4 by WEX joins WEX's existing offerings for truckers, including fleet cards and factoring services. The app is available on both Google Play Store and App Store.
WEX ha lanciato 10-4 by WEX, un'app mobile gratuita che offre sconti sul carburante a camionisti indipendenti e piccole aziende di trasporto negli Stati Uniti. Questo amplifica il mercato potenziale di WEX nel suo segmento Mobilità. L'app non richiede controlli di credito o domande; gli utenti devono semplicemente caricare la loro carta di debito o credito per iniziare a risparmiare.
Le caratteristiche principali includono:
- Transazioni sicure alla pompa senza commissioni
- Accesso a una rete di sconti in crescita di aree di servizio per camion negli Stati Uniti
- Possibilità di risparmi significativi sul gasolio, che rappresenta circa un terzo delle spese dei camionisti
10-4 by WEX si aggiunge alle offerte esistenti di WEX per camionisti, comprese le carte per flotte e i servizi di factoring. L'app è disponibile sia su Google Play Store che su App Store.
WEX ha lanzado 10-4 by WEX, una aplicación móvil gratuita que proporciona descuentos en combustible a camioneros independientes y pequeñas empresas de transporte en EE. UU. Esto expande el mercado potencial de WEX en su segmento de Movilidad. La aplicación no requiere verificaciones de crédito ni solicitudes; los usuarios simplemente cargan su tarjeta de débito o crédito para comenzar a ahorrar.
Las características clave incluyen:
- Transacciones seguras en la bomba sin comisiones
- Acceso a una red de descuentos en crecimiento de paradas de camiones en EE. UU.
- Potencial para ahorros significativos en combustible diésel, que representa aproximadamente un tercio de los gastos de los camioneros
10-4 by WEX se une a las ofertas existentes de WEX para camioneros, incluidas las tarjetas de flota y los servicios de factoring. La aplicación está disponible tanto en Google Play Store como en App Store.
WEX는 독립 트럭 운전사 및 소규모 트럭 회사에 연료 할인을 제공하는 무료 모바일 앱인 10-4 by WEX를 출시했습니다. 이는 WEX의 모빌리티 부문에서의 잠재 시장을 확장합니다. 이 앱은 신용 조회나 신청이 필요 없으며, 사용자는 저축을 시작하기 위해 단순히 체크카드 또는 신용카드를 업로드하면 됩니다.
주요 기능은 다음과 같습니다:
- 수수료 없는 안전한 주유소 거래
- 미국 트럭 정거장의 계속해서 증가하는 할인 네트워크에 대한 접근
- 트럭 운전사의 비용의 약 3분의 1을 차지하는 디젤 연료에 대한 상당한 절약 가능성
10-4 by WEX는 WEX의 트럭 운전사를 위한 기존 제공 사항에 추가됩니다. 여기에는 플릿 카드 및 팩토링 서비스가 포함됩니다. 이 앱은 Google Play Store와 App Store 모두에서 사용할 수 있습니다.
WEX a lancé 10-4 by WEX, une application mobile gratuite qui fournit des remises sur le carburant aux camionneurs indépendants et aux petites entreprises de transport aux États-Unis. Cela élargit le marché accessible de WEX dans son segment Mobilité. L'application ne nécessite aucun contrôle de crédit ni demande ; les utilisateurs téléchargent simplement leur carte de débit ou de crédit pour commencer à économiser.
Les fonctionnalités clés incluent :
- Transactions sécurisées à la pompe sans frais
- Accès à un réseau de remises en expansion dans les aires de services pour camions aux États-Unis
- Potentiel d'économies significatives sur le diesel, qui représente environ un tiers des dépenses des camionneurs
10-4 by WEX rejoint les offres existantes de WEX pour les camionneurs, notamment les cartes de flotte et les services de factoring. L'application est disponible à la fois sur Google Play Store et sur l'App Store.
WEX hat 10-4 by WEX gestartet, eine kostenlose mobile App, die Kraftstoffrabatte für unabhängige Lkw-Fahrer und kleine Transportunternehmen in den USA bietet. Dies erweitert den adressierbaren Markt von WEX im Mobilitätssegment. Die App erfordert keine Bonitätsprüfungen oder Anträge; die Nutzer müssen lediglich ihre Debit- oder Kreditkarte hochladen, um mit dem Sparen zu beginnen.
Wesentliche Funktionen sind:
- Sichere Transaktionen an der Zapfsäule ohne Gebühren
- Zugang zu einem wachsenden Rabattnetzwerk von Lkw-Raststätten in den USA
- Das Potenzial für erhebliche Einsparungen beim Diesel, der etwa ein Drittel der Ausgaben der Lkw-Fahrer ausmacht
10-4 by WEX ergänzt die bestehenden Angebote von WEX für Lkw-Fahrer, einschließlich Flottenkarten und Factoring-Diensten. Die App ist sowohl im Google Play Store als auch im App Store erhältlich.
- Expansion of WEX's total addressable market in the Mobility segment
- Launch of a new product (10-4 by WEX) targeting independent truckers and small trucking companies
- Potential for increased user base and transaction volume through the new app
- No credit checks or applications required, lowering barriers to entry for new customers
- None.
Insights
WEX's launch of the 10-4 by WEX mobile app represents a strategic move to expand its market reach in the Mobility segment. By offering fuel discounts to independent truckers and small trucking companies, WEX is tapping into a previously underserved market segment. This could potentially lead to increased transaction volumes and revenue growth for the company.
The app's no-credit-check approach and use of existing debit or credit cards lower barriers to entry, which could drive rapid adoption. With fuel costs accounting for about
The partnership with major truck stop chains and the promise of additional merchants joining the network suggest a strong value proposition that could lead to increased market share for WEX in the trucking industry. This move aligns with WEX's core business of simplifying commerce for businesses and could potentially boost its long-term growth prospects in the mobility sector.
The launch of 10-4 by WEX demonstrates WEX's ability to identify and capitalize on market gaps. By extending enterprise-level fuel discounts to independent truckers, WEX is addressing a significant pain point for a large, underserved segment of the trucking industry.
With an estimated
The app's integration with WEX's existing suite of trucking services, including fleet cards and factoring, creates a comprehensive ecosystem that could increase customer stickiness and lifetime value. This holistic approach to serving the trucking industry, from independent operators to large enterprises, positions WEX as a one-stop solution provider in the sector.
The 10-4 by WEX mobile app will give independent truckers access to fuel discounts typically reserved for larger enterprises
The 10-4 by WEX mobile app will give independent truckers access to fuel discounts typically reserved for larger enterprises. 10-4 by WEX does not require credit applications or credit checks. Users simply upload the debit or credit card of their choice and start saving. The 10-4 by WEX mobile app is free and available in the Google Play Store or the App Store. (Graphic: Business Wire)
“With the release of the 10-4 by WEX mobile app, we are enabling independent owner-operators and small companies to save instantly on their largest expense – fuel,” said Karen Stroup, Chief Digital Officer at WEX. “Already a trusted partner to an estimated 19.4 million commercial vehicles globally, we are proud to expand WEX’s core offerings to this new segment – independent truckers.”
An estimated 62 percent of small business owners are not interested in a loan, according to the National Federation of Independent Businesses, which is why 10-4 by WEX does not require credit applications or credit checks. Users simply upload the debit or credit card of their choice and start saving. Built with industry-leading embedded payments technology, 10-4 by WEX provides secure transactions at the pump with no transaction fees.
“10-4 by WEX offers instant savings at the pump to independent owner-operators and other small trucking operations that have, historically, been left out of the mix,” said Timothy Hampton, SVP and General Manager of Over-the-Road (OTR) at WEX. “On average, independent truckers spend approximately
Truckers can learn more about using 10-4 by WEX for savings at a large and growing discount network of
10-4 by WEX is the company's latest offering specifically tailored to truckers, and joins WEX’s trucking fleet cards and factoring services to help improve efficiency, cut costs, and get paid fast. Now, regardless of the size of the operation, independent owner-operators and enterprise-scale freight companies alike can turn to WEX for volume discounts and greater transparency into purchasing and volume performance with WEX’s powerful analytics tools and mobile apps.
The 10-4 by WEX mobile app is free and available in the Google Play Store or the App Store.
About WEX
WEX (NYSE: WEX) is the global commerce platform that simplifies the business of running a business. WEX has created a powerful ecosystem that offers seamlessly embedded, personalized solutions for its customers around the world. Through its rich data and specialized expertise in simplifying benefits, reimagining mobility, and paying and getting paid, WEX aims to make it easy for companies to overcome complexity and reach their full potential. For more information, please visit www.wexinc.com.
Forward-Looking Statements
This press release contains forward-looking statements including, but not limited to, statements regarding the expected strategic, operational, and financial benefits resulting from the launch and use of 10-4 by WEX. Any statements in this press release that are not statements of historical facts are forward-looking statements. When used in this press release, the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “project,” “will,” “positions,” “confidence,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such words. Forward-looking statements relate to our future plans, objectives, expectations, and intentions and are not historical facts and accordingly involve known and unknown risks and uncertainties and other factors that may cause the actual results or performance to be materially different from future results or performance expressed or implied by these forward-looking statements, including customer adoption of 10-4 by WEX, the Company’s ability to offer and operate 10-4 by WEX as planned and the ability of the Company and its customers to realize the expected benefits of 10-4 by WEX; as well as other risks and uncertainties identified in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2023, filed with the Securities and Exchange Commission on February 23, 2024 and subsequent filings with the Securities and Exchange Commission. The forward-looking statements speak only as of the date of this press release and undue reliance should not be placed on these statements. The Company disclaims any obligation to update any forward-looking statements as a result of new information, future events, or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241004077507/en/
Media:
WEX
Julie Lydon, 415-816-9397
Julie.Lydon@wexinc.com
Investors:
WEX
Steve Elder, 207-523-7769
Steve.Elder@wexinc.com
Source: WEX
FAQ
What is 10-4 by WEX and how does it benefit independent truckers?
How does the 10-4 by WEX app work for fuel purchases?
Which truck stops are included in the 10-4 by WEX discount network?
How does the launch of 10-4 by WEX impact WEX's market position?
