WEX 📈 Wex - Overview

WEX Inc. is a commerce platform operator that facilitates transactions and provides payment solutions to businesses and organizations globally. The company's Mobility segment is geared towards the fleet industry, offering a range of services including vehicle payment solutions, transaction processing, and information management. This segment also provides account activation and retention services, authorization and billing inquiries, and account maintenance services, all of which are designed to help businesses and government agencies manage their fleets more efficiently. Additionally, the Mobility segment offers analytics solutions, merchant services, and ancillary services, which enable customers to make data-driven decisions and optimize their operations. WEX Inc. markets its Mobility segment products directly and indirectly to businesses and government agencies with fleets of commercial vehicles, as well as through co-branded and private label relationships.

The Corporate Payments segment of WEX Inc. focuses on providing payment solutions to businesses, including embedded payments and accounts payable automation and spend management solutions. This segment caters to a range of industries, including travel, fintech, insurance, consumer bill pay, and media, offering customized payment solutions that meet the unique needs of each sector. By marketing its products directly and indirectly to customers in these verticals, WEX Inc. is able to provide a tailored approach to payment processing and management. The company's Corporate Payments segment is designed to help businesses streamline their payment processes, reduce costs, and improve efficiency, ultimately driving growth and profitability.

WEX Inc.'s Benefits Solutions segment offers a software-as-a-service (SaaS) platform for consumer-directed healthcare benefits, as well as full-service benefit enrollment solutions. The company's SaaS platform includes embedded payment solutions and plan administration services for consumer-directed health benefits, COBRA accounts, and benefit enrollment and administration services. Furthermore, WEX Inc. provides custodial and depository services for health savings accounts, which enables individuals to save for medical expenses on a tax-free basis. The company markets its Benefits Solutions segment products through third-party administrators, financial institutions, payroll providers, and health plans, providing a comprehensive approach to benefits management and administration.

With a history dating back to 1983, WEX Inc. has established itself as a leading provider of commerce platforms and payment solutions. Formerly known as Wright Express Corporation, the company changed its name to WEX Inc. in October 2012, reflecting its expanded range of services and capabilities. Headquartered in Portland, Maine, WEX Inc. is a publicly traded company listed on the New York Stock Exchange (NYSE) under the ticker symbol WEX, and its common stock is classified under the GICS Sub Industry of Data Processing & Outsourced Services. For more information, visit the company's website at https://www.wexinc.com, or review its financial data using the ISIN code US96208T1043.