Wex Europe Services mulls further fuel card acquisitions
Wex Europe Services (WES), which owns and supplies the Esso Card, has said future fuel card acquisitions could be possible as it marks its three-year anniversary.
Founded in 2014, Wex Europe Services is a joint venture between US-based Wex Inc and UK-based Radius Payment Solutions, and was established to purchase the assets of ExxonMobil’s European commercial fuel card offering in December 2014.
The company now manages more than 90,000 fuel card fleets in eight countries across Europe, running more than 1.5 million fuel cards.
New deals have already seen WES became a reseller of the E.Leclerc fuel card in France while a reciprocal fuel card acceptance agreement between Esso and BP has given UK holders of an Esso Card the ability to pay for fuel in more than 3,300 participating BP, Esso and Shell service stations.
The firm has also launched its WEX Telematics fleet management tool that allows businesses to manage their staff and control costs more efficiently.
Commenting on the business evolution, managing director Malcolm Joyce said: “The goal is for the Esso Card to go from strength-to-strength.
“As the company matures, so will the team behind it, which means there will be lots of opportunities for them to win a greater market share for WES. Perhaps, that will allow us to consider the possibility of acquiring further card portfolios.
“We have the infrastructure in place to achieve that goal, so it’s up to us to deliver on our current products and then look at the next move forwards.”