WEX Launches New Fleet Card with EV Payment Capabilities
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2d ago
0mins
Source: Yahoo Finance
- Unified Payment Solution: The new WEX Fleet card integrates traditional fuel and EV charging payments, supporting over 175,000 public charging ports and 90% of U.S. gas stations, streamlining fleet management and enhancing operational efficiency.
- Simplified Management: Fleet managers can achieve unified reporting and purchase controls through the DriverDash™ app, reducing the complexity of managing multiple cards and improving decision-making efficiency and cost control.
- Technological Innovation: The card embeds RFID technology, eliminating the need for a separate charging card, allowing payment for internal combustion, hybrid, and electric vehicles through a single account, enhancing transaction control and data security for customers.
- Market Responsiveness: WEX's EV payment capabilities reflect its keen insight into the needs of mixed-energy fleets, aiding customers in adapting to electrification transitions and enhancing market competitiveness.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy WEX?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on WEX
Wall Street analysts forecast WEX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for WEX is 171.17 USD with a low forecast of 150.00 USD and a high forecast of 182.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
9 Analyst Rating
2 Buy
7 Hold
0 Sell
Hold
Current: 154.680
Low
150.00
Averages
171.17
High
182.00
Current: 154.680
Low
150.00
Averages
171.17
High
182.00
About WEX
WEX Inc. provides a global commerce platform, which simplifies the business of running a business. The Company has three segments: Mobility, Benefits and Corporate Payments. Its Mobility segment provides payment solutions, transaction processing, and information management services to a diverse customer base globally. Its Benefits segment simplifies employee benefit plan administration through Software as a service (SaaS) software integrated with payment solutions, delivering diverse product offerings including Benefit Administration, HSAs, FSAs, HRAs, COBRA and Direct Billing and compliance administration. Its Corporate Payments segment delivers global B2B payment solutions, including its Direct to Corporate solution that integrates with ERPs and accounting workflows to maximize virtual payment usage, and its Embedded Payments solution that integrates virtual payment capabilities into existing workflows for a range of industries, including online travel.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
WEX Launches New Fleet Card with EV Payment Capabilities
- Unified Payment Solution: The new WEX Fleet card integrates traditional fuel and EV charging payments, supporting over 175,000 public charging ports and 90% of U.S. gas stations, streamlining fleet management and enhancing operational efficiency.
- Simplified Management: Fleet managers can achieve unified reporting and purchase controls through the DriverDash™ app, reducing the complexity of managing multiple cards and improving decision-making efficiency and cost control.
- Technological Innovation: The card embeds RFID technology, eliminating the need for a separate charging card, allowing payment for internal combustion, hybrid, and electric vehicles through a single account, enhancing transaction control and data security for customers.
- Market Responsiveness: WEX's EV payment capabilities reflect its keen insight into the needs of mixed-energy fleets, aiding customers in adapting to electrification transitions and enhancing market competitiveness.
Continue Reading
Nuvei Partners with WEX to Enhance Travel Payment Efficiency
- Partnership Announcement: Nuvei has partnered with WEX to leverage WEX's virtual card technology, enabling travel merchants within Nuvei's global network to achieve faster supplier payments, which is expected to significantly enhance cash flow and liquidity.
- Payment Process Optimization: The integration allows travel merchants to manage multiple supplier relationships more efficiently through secure virtual card payments, reducing reliance on credit lines and improving liquidity and transparency in payment processes.
- Market Challenge Mitigation: Amid tightening credit conditions globally, this partnership enables merchants to fund supplier payments directly from incoming settlement flows, decreasing dependence on external financing and enhancing financial control.
- Strengthened Industry Position: Nuvei's CEO Phil Fayer stated that this collaboration further solidifies Nuvei's role as the preferred payments infrastructure partner for the travel industry, assisting travel businesses in reducing costs and simplifying global supplier payment processes.
Continue Reading