WEX Launches WEX EV Depot for Secure On-Site Vehicle Charging Payments

WEX fleet services now offers a EV charging and payment solution across depot, public, and at-home sites

PORTLAND, Maine--(BUSINESS WIRE)-- WEX (NYSE: WEX), the global commerce platform that simplifies the business of running a business, today announced the introduction of WEX EV Depot. This new feature enables simple, secure, and frictionless charging at private chargers when using the WEX Fleet Card. The newest addition to WEX’s comprehensive charging platform - including the existing public charging 'En Route’ and ‘At-Home’ solutions - makes it the first fleet management business in North America to offer electric vehicle (EV) charging payments across depot, public, and at-home charging locations.

“As fleet managers shift from internal combustion engines to EVs, they face the challenge of consolidating data across different types of chargers and fueling stations for operational efficiency,” said Carlos Carriedo, Chief Operating Officer, Americas Payments & Mobility at WEX. “With WEX EV Depot, we are helping customers navigate the complexity of infrastructure rollout and giving them tools to operate efficiently at scale with a 360-degree solution.”

The shift to mixed-energy fleets across the industry is underway. A recent Frost & Sullivan report, commissioned by WEX, showed 80% of mixed-energy fleet operators surveyed intend for at least 25% of their fleets to be comprised of EVs by 2030. Fleets will need a streamlined approach to payments for both internal combustion engine vehicles (ICE) and EV vehicles. This makes WEX’s card offerings ideal for organizations seeking a unified charging and payment solution for mixed-energy fleets.

Some of the benefits of WEX EV Depot include:

For Fleet Operators

• WEX EV Depot is included in an integrated reporting system that allows fleets to manage all EV charges from any charging source or fuel transactions, on a WEX fleet credit line.
• Fewer cards needed, simplifying onboarding and on-going operations.
• The platform will include the WEX EV Depot Mapping tool, which allows fleets to direct EV drivers to their preferred depot or private charging locations, regardless of whether chargers are connected to the internet or not.
• Helps reduce downtime by scheduling charging overnight.

For Drivers

• A WEX-issued RFID tag ensures frictionless and secure EV charging payments at private chargers, in addition to the WEX public network comprising nearly 150,000 charging stations.
• WEX DriverDash, WEX’s mobile payment app, additionally allows for touch-free in-app charger activation for cross-vendor public and private chargers, providing a fast, secure payment option via smartphones.
• The number of cards needed to access chargers is significantly reduced.

“With comprehensive payment integration, the EV Depot Mapping tool, and robust data security, our WEX EV Depot solution provides a wealth of benefits to our EV and mixed-fleet customers,” Carreido added. “It offers a simple and efficient tool to enhance operational and financial efficiency, and accelerate lower-emissions goals.”

WEX EV Depot is available to WEX En Route customers for an additional subscription fee. WEX EV Depot works seamlessly with insights from Sawatch Labs, a WEX Company, to help fleets determine where to deploy depot charging based on real operational data, and maximize ROI once the infrastructure is in place.

For more information, please visit the WEX EV Solutions website.

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 benefits resulting from the Company’s launch of WEX EV Depot. 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 the ability of the Company and its customers to realize the expected benefits of WEX EV Depot; 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, 2024, filed with the Securities and Exchange Commission on February 20, 2025 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.

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Media:

Johnston Farrow, 832-823-3044

johnston.farrow@wexinc.com

Investors:

WEX

Steve Elder, 207-523-7769

Steve.Elder@wexinc.com

Source: WEX