WEX buy ExxonMobil’s European commercial fuel card program

WEX Inc. a provider of corporate payment solutions, has announced that it has acquired the assets of ExxonMobil’s European commercial fuel card (Esso Card) program through a majority owned joint venture, WEX Europe Services Limited.

Under the terms of the transaction, WEX purchased ExxonMobil’s commercial fleet fuel card program which includes operations, funding, pricing, and sales and marketing in nine countries in Europe.

As part of this transaction, both parties have agreed to enter into a long term supply agreement to serve the current and future Esso Card customers and to grow the business.

“Expanding our presence in the European market through the addition of the Esso Card program enables us to broaden our international footprint, while laying the foundation for further expansion,” said Melissa Smith, WEX president and chief executive officer.

WEX has over 8 million cardolders worldwide.

ExxonMobil's web page for its fleet cards department says that in the United States WEX markets its services directly to businesses and as an outsourcing partner for its strategic relationships and franchisees.