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WEX Inc. specializes in delivering financial technology services globally, catering to diverse sectors with its innovative solutions. The company operates through three primary segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment focuses on providing comprehensive fleet vehicle payment processing services. This includes customer and account activation services, billing inquiries, credit and collections management, and analytics solutions through a web-based platform. WEX serves a broad spectrum of clients in both commercial and government sectors, ranging from small to large fleets, including over-the-road and long haul operations. It also collaborates with partners through co-branded and private label arrangements to extend its market reach.
In the Travel and Corporate Solutions segment, WEX offers embedded payment solutions, virtual cards, and accounts payable automation tools designed to streamline transaction processes. These solutions cater to commercial and government organizations seeking efficient payment management and spend optimization capabilities.
Additionally, WEX's Health and Employee Benefit Solutions segment provides healthcare payment products and software-as-a-service platforms for consumer-directed healthcare management. This includes payroll-related and employee benefit products specifically tailored for the Brazilian market. The segment targets health plans, third-party administrators, financial institutions, payroll companies, benefits consultants, software providers, and individual consumers to enhance healthcare payment efficiency and consumer-directed healthcare solutions.
Founded in 1983 and headquartered in Portland, Maine, WEX Inc. has evolved from its roots as Wright Express Corporation to become a leader in financial technology services. The company continues to innovate and expand its offerings across global markets, driving efficiency, security, and cost savings for its diverse clientel.
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