SOUTH PORTLAND, Maine--(BUSINESS WIRE)--WEX Inc. (NYSE: WEX), a leading global provider of industry-leading corporate payments solutions, today announced that it has completed the successful conversion and migration of ExxonMobil’s fleet card customers in Hong Kong and Macau from a legacy platform to WEX’s International Fleet Card System (IFCS). As a result of this activity, the company is now providing a strategic fleet card management solution for ExxonMobil in these markets, plus Guam, Saipan and Singapore.
This WEX offering incorporates card processing capabilities along with integrated collections, credit and customer service. In support of this program, WEX has established a multilingual call center in Australia to support customer service across all of these markets.
“ExxonMobil is pleased to complete this modernization of our fuel card offerings in these key Southeast Asia markets,” said Bill Waite, Global Payment and Loyalty Solutions and Operations Manager at ExxonMobil Fuels, Lubricants and Specialties Marketing Company.
“WEX offers a modern, customizable architecture with great flexibility in answering customer needs for today and the future,” said George Hogan, International Senior Vice President at WEX. “The range of products we offer in the Southeast Asia region is just the beginning. We look forward to expanding the use of the proven capabilities and flexibility of the IFCS fuel card platform in additional markets around the world.”
Forward-Looking Statements
This news release contains
forward-looking statements, including statements regarding: the range of
products offered and to be offered and the locations for those
offerings; plans for expansion; and, the capabilities of the IFCS fuel
card platform. Any statements that are not statements of historical
facts may be deemed to be forward-looking statements. When used in this
new release, the words "may," "could," "anticipate," "plan," "continue,"
"project," "intend," "estimate," "believe," "expect,” “look forward to,"
and similar expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain such
words. These forward-looking statements are subject to a number of risks
and uncertainties that could cause actual results to differ materially,
including: the effects of general economic conditions on fueling
patterns as well as payment and transaction processing activity; the
impact of foreign currency exchange rates on the Company’s operations,
revenue and income; changes in interest rates; the impact of
fluctuations in fuel prices; the effects of the Company’s business
expansion and acquisition efforts; potential adverse reactions or
changes to business or employee relationships, including those resulting
from the completion of an acquisition; competitive responses to any
acquisitions; uncertainty of the expected financial performance of the
combined operations following completion of an acquisition; the ability
to successfully integrate the Company's acquisitions, specifically,
the Electronic Funds Source LLC's operations and employees; the ability
to realize anticipated synergies and cost savings; unexpected costs,
charges or expenses resulting from an acquisition; the Company's failure
to successfully operate and expand ExxonMobil's European and Asian
commercial fuel card programs; the failure of corporate investments to
result in anticipated strategic value; the impact and size of credit
losses; the impact of changes to the Company's credit standards;
breaches of the Company’s technology systems and any resulting negative
impact on our reputation, liabilities or relationships with customers or
merchants; the Company’s failure to maintain or renew key agreements;
failure to expand the Company’s technological capabilities and service
offerings as rapidly as the Company’s competitors; the actions of
regulatory bodies, including banking and securities regulators, or
possible changes in banking or financial regulations impacting the
Company’s industrial bank, the Company as the corporate parent or other
subsidiaries or affiliates; the impact of the Company’s outstanding
notes on its operations; the impact of increased leverage on the
Company's operations, results or capacity generally, and as a result of
potential acquisitions specifically; financial loss if the Company
determines it necessary to unwind any derivative instrument positions
prior to the expiration of a contract; the incurrence of impairment
charges if our assessment of the fair value of certain of our reporting
units changes; the uncertainties of litigation; 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, 2015, filed on February 26, 2016,
and Item 1.A. of Part II of the quarterly report on Form 10-Q filed on
April 28, 2016, both with the Securities and Exchange Commission. The
Company's forward-looking statements do not reflect the potential future
impact of any alliance, merger, acquisition, disposition or stock
repurchases, other than the acquisition. The forward-looking statements
speak only as of the date of this news 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.
About WEX Inc.
WEX Inc. (NYSE: WEX) is a leading provider of
corporate payment solutions. From its roots in fleet card payments
beginning in 1983, WEX has expanded the scope of its business into a
multi-channel provider of corporate payment solutions representing
approximately 10 million vehicles and offering exceptional payment
security and control across a wide spectrum of business sectors. WEX
serves a global set of customers and partners through its operations
around the world, with offices in the United States, Australia, New
Zealand, Brazil, the United Kingdom, Italy, France, Germany, Norway, and
Singapore. WEX and its subsidiaries employ more than 2,500 associates.
The Company has been publicly traded since 2005, and is listed on the
New York Stock Exchange under the ticker symbol “WEX.” For more
information, visit www.wexinc.com
and follow WEX on Twitter at @WEXIncNews.
