IRVING, Texas--(BUSINESS WIRE)--GE Capital, Transportation Finance announced today the launch of a fuel card services program designed specifically for over-the-road trucking (OTR) companies. The card will be accepted at most truck stops throughout the U.S. The program will be administered by WEX Inc. (NYSE: WEX) of South Portland, Maine, a leading provider of corporate payment solutions.
The Fleet One OTR Fuel Card will be offered by WEX Bank to select GE Capital, Transportation Finance customers, providing them with potential cost savings on fuel, maintenance and other fleet expenses. In addition to these discounts, customers will benefit from industry-leading security and reporting, all designed to help trucking companies manage and grow their businesses.
In addition to the standard fuel card features offered by WEX, GE Capital, Transportation Finance has negotiated point-of-sale discounts on diesel purchases made with the Fleet One OTR Fuel Card at participating Pilot Flying J, Speedway, WilcoHess, and AMBEST locations. These merchants represent more than 1,000 locations across the country.
“We believe our customers will benefit from the rebates on fuel expenses as well as increased access to data that may not be available to small and mid-market operators today,” said John Conkin, senior vice president of sales with GE Capital, Transportation Finance. “Operators can use the Fleet One OTR Fuel Card as an alternative to standard debit or credit cards, which will allow them to manage driver spending and simplify line-item reporting.”
Conkin is the current president of Act 1 (Allied Committee for the Trucking Industry), whose member companies are dedicated to enhancing the business environment of the transportation industry. ACT1 is a founding member of the Trucking Moves America Forward image movement, which focuses on the importance of the industry to the national economy.
“Through the new addition of the co-branded Fleet One OTR fuel card program, qualified customers of GE Capital, Transportation Finance can now enjoy enhanced security, detailed reporting with level III data capture and added control to help minimize unauthorized spend, “said Brian Fournier, vice president of fleet partner channels at WEX.
Issuance of a WEX Fleet One OTR Fuel Card is subject to underwriting and approval of WEX Bank. To learn more about the GE Capital, Transportation Finance business and the WEX Fleet One OTR Fuel Card program, including full program and card details and the full disclaimer, please visit www.gecapitalfuelcardprogram.com.
About WEX Inc.
WEX Inc. (NYSE: WEX) is a leading provider of corporate payment solutions. From its roots in fleet card payments beginning in 1983, WEX has expanded the scope of its business into a multi-channel provider of corporate payment solutions representing 9 million vehicles and offering exceptional payment security and control across a wide spectrum of business sectors. WEX serves a global set of customers and partners through its operations around the world, with offices in the United States, Australia, New Zealand, Brazil, the United Kingdom, Italy, France, Germany, Norway, and Singapore. WEX and its subsidiaries employ more than 2,000 associates. The Company has been publically traded since 2005, and is listed on the New York Stock Exchange under the ticker symbol “WEX.” For more information, visit www.wexinc.com and follow WEX on Twitter at @WEXIncNews.
About GE Capital, Transportation Finance
For more than 40 years, GE Capital, Transportation Finance has supported the commercial trucking industry with customer-centric financing programs. Located in Irving, TX, the business serves all parties in the U.S. transportation industry — including manufacturers, dealers and end-users — with wholesale and retail financing. For more information, visit www.gecapital.com/transportation. GE Capital offers customers around the globe an array of financial products, services and insights to help them grow their businesses.
GE (NYSE: GE) imagines things others don’t, builds things others can’t and delivers outcomes that make the world work better. GE brings together the physical and digital worlds in ways no other company can. In its labs and factories and on the ground with customers, GE is inventing the next industrial era to move, power, build and cure the world. www.ge.com.