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June 4, 2018

Market likes WEX fleet-card deal with Shell

Photo / Tim Greenway
Photo / Tim Greenway
Melissa Smith, president and CEO of WEX Inc., announced today that its fleet card division has entered into an agreement with Equilon Enterprises LLC to issue and operate Shell's full portfolio of commercial fleet cards in the United States and Canada.

WEX Inc. (NYSE: WEX) announced today a big win for its fleet card division, reporting that it has entered into an agreement with Equilon Enterprises LLC, dba Shell Oil Products US and Shell Canada Products, to issue and operate Shell's full portfolio of commercial fleet cards in the United States and Canada.

The first commercial fleet product of Shell and WEX is expected to launch on Aug. 1.

"We're excited to add the Shell brand to our commercial fleet card services portfolio and to leverage their strong market presence in North America," WEX President and CEO Melissa Smith said in a news release. "The agreement with Shell underscores our commitment to growth in the North American fleet market and offers fleet customers another robust fleet card program option with one of the most recognized brands in the industry."

In mid-morning trading, shares of WEX were up 6.87%, to $184.51.

As the new provider for Shell's commercial fleet cards, WEX will provide Shell's commercial fleet customers with "the full range of features, functionality and solutions needed to meet the everyday demands of a modern fleet," according to the news release.

Enhanced fleet card services

Courtesy / WEX Inc.
Courtesy / WEX Inc.
WEX's agreement adds additional fleet card capabilities to Shell's fleet card customers.

The new relationship builds on the latest enhancements and improvements Shell made earlier this year by upgrading to WEX Spec, WEX's network specification, which gives fleet managers better control and visibility when managing their fueling transactions, the release stated.

"Delivering dedicated, best-in-class customer service is important to us, and this new relationship with WEX highlights our commitment to providing customers with personalized support and innovative features to solve their unique fleet management challenges," said Rusty Barron, vice president and general manager of Shell Fleet Solutions, North America.

Shell Fleet Solutions' full portfolio of commercial cards includes the Shell Fleet Navigator Card, a universal fuel card for larger fleets, the Shell Fleet Plus Card and the Shell Small Business Card.

WEX's fleet cards are accepted at over 90% of U.S. fuel retailers and provide industry-leading payment security and control for more than 11.5 million vehicles.

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