WEX Signs New Fleet Card Agreement With the State of California

Rhea-AI Summary

WEX (NYSE: WEX), a financial technology service provider, has secured a multi-year fleet card contract with California’s Department of General Services. This contract will enable various state agencies to utilize WEX’s payment tools for fuel, electric vehicle charging, and fleet maintenance expenses. The contract was awarded due to WEX's proven technology and service in government sectors. WEX aims to enhance the operational efficiency of California's fleet operations through its comprehensive analytics and reporting capabilities.

Positive

• Awarded a multi-year fleet card contract by California's Department of General Services.
• Provides comprehensive payment tools for various state agencies and local governments.
• Enhances operational efficiency with analytics and reporting capabilities.

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• None.

WEX (NYSE: WEX), a leading financial technology service provider, has been awarded the California state-wide fleet card contract by California’s Department of General Services (DGS) and the Office of Fleet and Asset Management (OFAM). This multi-year contract was awarded based on WEX’s technology, service and experience within the government space.

The program will provide California state agencies and other eligible local government users convenient payment tools, reporting and analytics to support their purchasing of fuel, electric vehicle charging and other fleet-related expenses such as oil, fluids, lubricants, parts, repairs and maintenance.

“We’re thrilled to provide the state of California with our broad suite of fleet payment tools to maximize the effectiveness of their fleet,” says Bernie Kavanagh, senior vice president and general manager of large fleet at WEX. “Our broad payment acceptance, data quality, controls and analytical tools will provide the state with in-depth, actionable information they need to run their agencies' fleets efficiently."

About WEX

Powered by the belief that complex payment systems can be made simple, WEX (NYSE: WEX) is a leading financial technology service provider across a wide spectrum of sectors, including fleet, corporate payments, travel and health. WEX has offices in more than 10 countries and employs more than 5,200 associates around the world. WEX fleet cards offer approximately 16 million vehicles exceptional payment security and control; purchase volume in travel and corporate solutions was $20.9 billion in 2020 and was processed in over 20 currencies; our health division provides consumer-directed healthcare technology and services, and reached an estimated 34.3 million U.S. consumers as of March 31, 2021. For more information, visit www.wexinc.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210623005225/en/

FAQ

What recent contract was awarded to WEX?

WEX was awarded a multi-year fleet card contract by California's Department of General Services.

How will WEX's contract benefit California state agencies?

The contract will provide California state agencies with payment tools for fuel, electric vehicle charging, and fleet maintenance expenses.

What technology does WEX provide for fleet operations?

WEX offers payment tools, reporting, and analytics to enhance the effectiveness of fleet operations.

Why was WEX awarded the contract by California's DGS?

WEX was awarded the contract due to its technology, service, and experience within the government sector.

What date was the contract awarded to WEX?

The contract was announced on June 23, 2021.