WEX® Unveils First-of-its-Kind Fleet Card Unifying Fueling and Public EV Charging Payments

Key Terms

rfid technical

RFID, or Radio Frequency Identification, is a technology that uses radio waves to automatically identify and track objects, animals, or people. It involves small tags or chips that emit signals when scanned, similar to a barcode but without needing direct line-of-sight. For investors, RFID enhances supply chain efficiency and inventory management, potentially reducing costs and improving business operations.

closed-loop financial

A closed-loop system automatically measures its own output and feeds that information back to adjust inputs, operating without the need for constant human intervention — like a thermostat that senses room temperature and turns the heater on or off to keep a set point. Investors pay attention because closed-loop products often deliver more consistent performance, lower operational costs, and stronger regulatory or competitive advantages, which can improve revenue prospects, margins and risk profiles for companies that make or use them.

open-loop financial

An open-loop system in payments is a network that lets cards or digital wallets be used widely across many banks, merchants and service providers through standardized routing and settlement, rather than being limited to a single retailer or issuer. For investors it matters because open-loop arrangements can scale quickly and drive more transactions and fees, similar to how a universal electrical outlet supports many different plugs and devices, creating broader market reach and revenue potential.

internal combustion engine (ICE) technical

A internal combustion engine (ICE) is a machine that creates motion by burning fuel inside small chambers, where the expanding gases push pistons like a series of controlled pops that turn wheels or a generator. Investors care because ICE technology determines fuel costs, vehicle design, maintenance needs and regulatory exposure; shifts away from ICE toward alternatives can change demand, profit margins and the competitive outlook for manufacturers, suppliers and energy companies.

New EV-enabled fleet fuel card empowers mixed-energy fleets to pay for gas and public charging with one card, one account, one invoice

PORTLAND, Maine--(BUSINESS WIRE)-- WEX^® (NYSE: WEX), the global commerce platform that simplifies the business of running a business, today introduced WEX Fleet card now with EV payment capabilities, giving fleet customers a single way to pay for both traditional fuel and public electric vehicle (EV) charging. WEX is the first fuel card provider to incorporate fueling and EV charging into one card, one account, and one invoice across its proprietary closed-loop fuel network.

The new WEX Fleet card now with EV payment capabilities, gives fleet customers a single way to pay for both traditional fuel and public electric vehicle (EV) charging. WEX is the first fuel card provider to incorporate fueling and EV charging into one card, one account, and one invoice across its proprietary closed-loop fuel network.

The new offering allows all data and payments to flow to one simple, secure system, whether a driver is plugging in at one of over 175,000 WEX-accepting public charging ports or fueling up at over 90% of U.S. gas stations that accept WEX cards.

As fleets integrate a mix of electric or fuel-powered vehicles, many face fragmented payment systems, multiple cards or apps, and complex reconciliation. The WEX Fleet card now with EV payment capabilities helps reduce administrative burden while delivering a more seamless and unified experience for both drivers and operators. In addition, fleet managers retain unified reporting, purchase controls via the DriverDash™ app, and one credit line for all transaction data for fueling and charging.

“Fleets don’t want more cards, more systems, or more reconciliation,” said Carlos Carriedo, chief operating officer, Americas Payments & Mobility. “Our customers want one solution that works everywhere, and that’s exactly what we’re delivering with EV payments built directly into this new WEX Fleet card. It’s simplicity at scale for mixed-energy operations.”

The upgraded card embeds RFID technology directly into the standard WEX Fleet card, eliminating the need for a separate EV charging card or mobile app to activate and pay for a charging session. This allows for a single card and account structure to support internal combustion engine (ICE) vehicles, hybrids, and EVs. Powered by WEX’s proprietary closed-loop fleet network, rather than open-loop, general-purpose card networks, this approach gives customers end-to-end control of transactions, enabling richer data, stronger security, and fleet-specific purchase controls that support electrification without disrupting existing fueling workflows.

Key benefits of the WEX Fleet card now with EV payment capabilities

• One card, one account, one invoice: Fuel and EV charging all tied to a single card and credit line.
• Embedded tap-to-charge capability: Drivers use the same card for all fueling scenarios – no separate RFID required.
• Consolidated reporting and controls: Fleet managers get unified visibility into fueling and charging activity with existing purchase controls.
• Easy activation: EV charging capabilities can be enabled immediately or rolled in during the next scheduled renewal.

The WEX Fleet card now with EV payment capabilities reflects WEX’s ongoing effort to simplify operations and support the evolving needs of mixed-energy fleets. With real-time charger availability, remote initiation, and detailed transaction insights already part of WEX’s En Route EV suite, fleets can more easily manage the shift to electrification.

Availability
The WEX Fleet card now with EV payment capabilities is available today for eligible fleet customers. Existing EV enabled customers can request updated cards directly through the WEX online customer portal by clicking “Enable EV” on any existing fuel card, by clicking “Enable EV” when ordering new fuel cards, or receive them automatically during their next regular card-renewal cycle. To enable an account for EV, contact a WEX sales representative or for more information, visit the WEX EV website.

About WEX
WEX (NYSE: WEX) is the global commerce platform that simplifies the business of running a business. WEX has created a powerful ecosystem that offers seamlessly embedded, personalized solutions for its customers around the world. Through its rich data and specialized expertise in simplifying benefits, reimagining mobility, and paying and getting paid, WEX aims to make it easy for companies to overcome complexity and reach their full potential. For more information, please visit www.wexinc.com.

Forward-Looking Statements
This press release contains forward-looking statements including, but not limited to, statements regarding the WEX Fleet card now with EV payment capabilities. Any statements in this press release that are not statements of historical facts are forward-looking statements. When used in this press release, the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “project,” “will,” “positions,” “confidence,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such words. Forward-looking statements relate to our future plans, objectives, expectations, and intentions and are not historical facts and accordingly involve known and unknown risks and uncertainties and other factors that may cause the actual results or performance to be materially different from future results or performance expressed or implied by these forward-looking statements, including the ability of the Company, its partners and its customers to realize the expected benefits from the introduction of the WEX Fleet card now with EV payment capabilities; as well as other risks and uncertainties identified in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2024, filed with the Securities and Exchange Commission on February 20, 2025, and Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, filed with the Securities and Exchange Commission on May 1, 2025 and subsequent filings with the Securities and Exchange Commission. The forward-looking statements speak only as of the date of this press release and undue reliance should not be placed on these statements. The Company disclaims any obligation to update any forward-looking statements as a result of new information, future events, or otherwise.

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Media:

Johnston Farrow, 832-823-3044

johnston.farrow@wexinc.com

Investors:

WEX

Steve Elder, 207-523-7769

Steve.Elder@wexinc.com

Source: WEX