WEX Inc. is a provider of payment processing and information management services to the United States commercial and government vehicle fleet industry. The company is headquartered in Portland, Maine^[2][3] and provides services in the United States, Canada, South America, Europe, Asia, and Australia.

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WEX Inc.

Company type	Public
Traded as	NYSE: WEX S&P 400 Component
ISIN	US96208T1043
Industry	Business Services
Founded	1983 as Wright Express Corp
Headquarters	Portland, Maine , United States
Key people	Melissa D. Smith (President, Director, & CEO)[1] Michael E. Dubyak (Chairman of the Board)>[1] Roberto Simon (CFO)[1]
Products	Fleet cards, corporate payments, virtual card.
Revenue	US$ 1.54 billion (2020 FY)[1]
Operating income	US$ 239.27 million (2017)[1]
Net income	US$ 160.27 million (2017)[1]
Total assets	US$ 6.739 billion (2017)[1]
Total equity	US$ 1.72 billion (2017)[1]
Number of employees	3,500 (2017)[1]
Website	www.wexinc.com

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The company traces its origins to A.R. Wright, a coal and later heating oil business in South Portland, Maine. In the 1980s, A.R. Wright began allowing trucks to fuel up without having to pay an attendant by using a post-paid fuel card, leading to the creation of Wright Express Corporation in 1983.^[4]

SafeCard purchased Wright Express in 1994.^[5] On February 20, 1996, CUC International acquired SafeCard (now renamed to Ideon) for $375 million.^[6] Following CUC's merger with HFS, Wright Express became part of Cendant.

Wright Express went public in 2005.^[7] In 2012, it adopted the name WEX, signaling a shift away from focusing on fuel cards and expanding into other payment solutions.^[8]

In 2019, WEX opened a new 100,000-square-foot headquarters across from the Ocean Gateway International Marine Passenger Terminal in Portland, Maine. The company continues to have a significant presence in South Portland.^[9] WEX is one of ten founding corporate partners of the Roux Institute at Northeastern University, which leases a portion of the WEX headquarters campus.^[10]

WEX Fleet provides vehicle fleet customers with fuel cards and data and telematics offerings for drivers. In 2012, WEX Fleet acquired Fleet One to provide fleet cards to drivers.^[11] WEX Fleet also partners with GasBuddy,^[12] OnDeck Capital,^[13] and Chevron,^[14] among other companies, to provide services to customers. In 2017, WEX Fleet launched a new telematics platform, ClearView Advanced.^[15]

The travel segment, WEX Virtual, helps online travel agencies facilitate cross-border payments through virtual cards, allowing online travel agencies to automate back-end accounting practices. WEX Virtual launched in 2000^[16] in support of customers including HitchHiker,^[17] HotelTonight, Expedia, and Priceline.

In 2014, WEX acquired Evolution1,^[18] a cloud-based health industry payments provider, later renaming it to WEX Health. WEX Health Cloud helps to administer HSAs, HRAs, FSAs, VEBAs, COBRA, defined-contribution, wellness plans, and transit plans.^[19] Some partners include Fifth Third Bancorp,^[20] Paychex,^[21] HSA Bank, and Discovery Benefits.

In January 2020, the company announced it would acquire travel payments companies eNett and Optal from Travelport for $577.5 million.^[22]