WEX Announces Intention to Acquire Exxon Mobil Business Card Portfolio


Once completed, the deal would mean a complete consolidation of ExxonMobil’s business card portfolio under WEX, allowing cardholders to control spending and streamline fleet operations.

PORTLAND, Maine, July 28, 2022–(BUSINESS WIRE)–WEX (NYSE: WEX), the global commerce platform that simplifies running a business, today announced its intention to acquire the Exxon Mobil Business Card program. The acquisition will be subject to certain conditions and subject to closing. Once the acquisition is complete, ExxonMobil’s entire commercial card portfolio will be consolidated and administered by WEX.

“WEX’s ExxonMobil team is very excited to welcome these customers to our North American business portfolio, completing the consolidation of all of ExxonMobil’s commercial card business to WEX,” said Gene Currier. , Vice President and Chief Commercial Officer of WEX. “Customers will enjoy the same benefits, purchase controls and savings opportunities as all other Exxon Mobil BusinessPro customers in the United States and Canada.”

The Exxon Mobil BusinessPro program provides convenience, security and control for small businesses. The program supports a private label revolving credit card offer that can be used at more than 12,000 Exxon™ and Mobil™ locations in the United States, as well as cross-border acceptance in Canada. Its simplistic interface is designed for small businesses that typically source from the same stations near their homes.

Cardholders can save with fuel discounts of up to 6 cents per gallon on all Synergy™ fuel grades*. In addition to savings from the rebate, cardholders enrolled in the Exxon Mobil Rewards+™ program continue to earn points on fuel purchases, such as 4 bonus points per gallon of fuel when qualified as a Frequent member. Filler™**.

“Consolidating the Exxon Mobil Business card into our Exxon Mobil BusinessPro program with WEX will provide a streamlined business card offering for potential customers,” said Austin Johansen, director of fleet marketing at ExxonMobil. “WEX has been a valued partner for ExxonMobil, providing excellent services and offerings to fleets and small businesses.”

To learn more about Exxon Mobil BusinessPro™ account features, visit www.newwexfuelcard.com.

About WEX

WEX (NYSE: WEX) is the global commerce platform that simplifies running a business. WEX has created a powerful ecosystem that offers seamlessly integrated custom solutions to its customers around the world. With its rich data and specialized expertise in simplifying benefits, reinventing mobility, and paying and getting paid, WEX aims to enable businesses to easily overcome complexity and reach their full potential. . For more information, please visit www.wexinc.com.

Forward-looking statements made by WEX

This release contains forward-looking statements, including statements regarding: our expectations regarding the completion of the acquisition of the ExxonMobil business card portfolio, which is subject to certain closing conditions, and the conversion of such portfolio customers to the WEX maps. All statements that are not statements of historical fact may be deemed to be forward-looking statements. When used in this press release, the words “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “may “, “plan”, “project”, “will”, “would” 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: WEX’s ability to complete the Portfolio Acquisition Agreement and convert Portfolio Customers, and other risks and uncertainties identified in Item 1A of WEX’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, filed with the Securities and Exchange Commission on March 1, 2022. Forward-looking statements by WEX does not reflect the potential future impact of any alliances, mergers, acquisitions, divestitures or share buybacks. Forward-looking statements speak only as of the date of this release and undue reliance should not be placed on such statements. WEX disclaims any obligation to update forward-looking statements as a result of new information, future events or otherwise.

*Exxon Mobil BusinessPro is issued by WEX Bank. According to the monthly volume, refer to the standard discount table. Discounts are not applied at the time of purchase – they will appear as an account credit on the same billing statement as your monthly purchases. Rebates issued if payment is made in accordance with the terms of the ExxonMobil Fleet Charge Account Agreement. Rebates may not be allowed where prohibited by law and apply only to fuel purchases made with the ExxonMobil Fleet Card at participating Exxon and Mobil stations in the United States. Please contact ExxonMobil Fleet Services for more information on available discounts. Discounts are subject to change at any time at ExxonMobil’s discretion.

Fuel economy improvement is based on Synergy brand gasoline versus gasoline that meets minimum US government standards.

**Exxon Mobil Rewards+ Frequent Filler™ bonus points are earned by purchasing at least 100 gallons of Synergy fuel in a calendar month (i.e. August). To qualify, you must make purchases at participating Exxon or Mobil stations using (1) your Exxon Mobil Rewards+ card, or (2) your alt-ID/phone number or (3) the Exxon Mobil Rewards+ app . Visit exxon.com/terms to learn more.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220728005416/en/


Robert Gould
[email protected]


Comments are closed.