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WEX To Acquire Mobil Business Card Portfolio; Terms Not Disclosed

Upon completion, the deal would signify full consolidation of the ExxonMobil business card portfolio under WEX, allowing cardholders to control expenses and streamline fleet operations WEX (NYSE:WEX), the global

Benzinga · 07/28/2022 06:56

Upon completion, the deal would signify full consolidation of the ExxonMobil business card portfolio under WEX, allowing cardholders to control expenses and streamline fleet operations

WEX (NYSE:WEX), the global commerce platform that simplifies the business of running a business, is announcing today that it has plans to acquire the Exxon Mobil Business Card program. The acquisition will be contingent upon certain conditions and subject to closing. Upon completion of the acquisition, all of ExxonMobil's commercial card portfolio will be consolidated and administered by WEX.

"The ExxonMobil Team at WEX is very excited by the prospect of welcoming these customers to our North American portfolio of business, completing the consolidation of all ExxonMobil's commercial card business at WEX," said Gene Currier, vice president and business manager at WEX. "Customers will enjoy the same benefits, purchasing controls, and savings opportunities as all other Exxon Mobil BusinessPro customers across the U.S. and Canada."

The Exxon Mobil BusinessPro program provides convenience, security, and control for small businesses. The program supports a private label, revolving credit card offering which can be used at over 12,000 Exxon™ and Mobil™ locations within the United States, plus cross-border acceptance in Canada. Its simplistic interface is designed for small business customers who typically fuel at the same stations near their home base.

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

"The consolidation of the Exxon Mobil Business Card into our Exxon Mobil BusinessPro program with WEX will provide a simplified commercial card offer for prospective customers," said Austin Johansen, fleet marketing manager at ExxonMobil. "WEX has been a valued partner for ExxonMobil, delivering excellent service and offerings to fleets and small businesses."

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