Payments solutions provider Wex has announced that it will begin managing the proprietary fleet fuel card programme of Valero Energy Corp. Valero, through its subsidiaries (collectively, ‘Valero’), is a Fortune 50 international manufacturer and marketer of transportation fuels and petrochemical products. The agreement, which the parties anticipate will be fully implemented by April 1, 2020, is designed to enhance the technology and service of the fleet fuel card programme, including introducing the ability to make mobile payments, and will provide added benefits to Valero’s fleet customers.
Valero supplies more than 5,000 branded fuel stations across the US, from California to Florida to Maine. Based in San Antonio, Texas, it is the largest global independent refiner, with 15 petroleum refineries and combined throughput capacity of approximately 3.1 million barrels per day. It is also a producer of ethanol and renewable diesel products. Valero and Wex have been long-term partners and previously had a card acceptance agreement.
“We’re excited for the addition of Valero to Wex’s commercial fuel card portfolio and look forward to deepening the brand’s value in its core markets” said Brian Fournier, senior vice president of Global Fleet Partners at Wex. “This relationship positions us to help Valero grow commercial volume by providing best-in-class technology, sales and marketing to Valero’s commercial programmes, offering its fleet card customers a number of services and conveniences they have not had in the past”.