SOUTH PORTLAND, Maine--(BUSINESS WIRE)--WEX (NYSE: WEX) has renewed and expanded its agreement with Marathon Petroleum Corporation (NYSE: MPC) to operate its commercial fuel card program.
The multi-year agreement, which specifies WEX will provide Marathon Petroleum Corp. with sales and marketing resources to further drive Marathon’s retail growth, follows an initial five-year deal between the companies.
Marathon Petroleum Corp. is a major oil refining, marketing and transportation company headquartered in Findlay, Ohio.
Since WEX took over Marathon’s fleet card program in 2012, its fuel card portfolio has experienced consistent double-digit year-over-year growth and decreased attrition.
“Our jobber customers see value in the development of their fleet business, and our WEX program helps them to do just that,” Marathon Director of Brand Marketing Bill McCleave said.
Marathon Petroleum Corporation is the nation's second-largest refiner, with a refining capacity of 1.9 million barrels per calendar day in its six-refinery system. Marathon-brand gasoline is sold through approximately 5,800 independently-owned retail outlets across 20 states and the District of Columbia.
WEX manages customer fueling card programs for many of the world’s major oil brands, and for all 10 of the Top 10 of U.S. convenience store brands by market share. WEX recently re-signed one of the nation’s largest convenience store chains to a 7-year renewal, expanding their sales team and marketing resources as the company continues to grow its nationwide footprint.
“Partners continue to re-sign with WEX because we are constantly delivering new technology, enhancing service solutions and executing go-to-market strategies that uniquely grow each partner’s business in a way that bolsters their brands and meets their objectives,” WEX Senior Vice President Jay Collins said. “Marathon has seen the value that their fleet card program brings in not only extending Marathon’s brand values, but also in helping to grow their stations’ businesses.”
“Extended deals show us there is tremendous trust in the WEX brand from the biggest players in the industry,” Collins said. “They confirm the belief we have in our technology and our people.”
About Marathon Petroleum Corporation
Marathon Petroleum Corporation is a major oil refining, marketing and transportation company headquartered in Findlay, Ohio.
About WEX Inc.
Powered by the belief that complex payment systems can be made simple, WEX Inc. (NYSE: WEX) is a leading provider of payment processing and business solutions across a wide spectrum of sectors, including fleet, travel and healthcare. WEX operates in more than 10 countries and in more than 20 currencies through more than 3,500 associates around the world. WEX fleet cards offer 11.5 million vehicles exceptional payment security and control; purchase volume in its travel and corporate solutions grew to $30.3 billion in 2017; and the WEX Health financial technology platform helps 300,000 employers and more than 25 million consumers better manage healthcare expenses. For more information, visit www.wexinc.com.