WEX
Inc. (NYSE: WEX), a leading provider of corporate payments
solutions, today announced its subsidiary, WEX Finance Inc., has
received a MasterCard issuing licence in Australia.
The Australian MasterCard issuing license was granted following
regulatory changes made by the Reserve Bank of Australia to the
MasterCard and Visa access regimes, which came into effect on 1 January
2015. The changes were designed to encourage access to and greater
competition in the Australian market. WEX Finance Inc. has been granted
a MasterCard license under the new framework.
WEX Australia, managing director, Greg Drumm said, “This license is an
important pillar for WEX’s continued growth in the Australian market.
WEX has already been enjoying a successful relationship with MasterCard
due to our global partnership and the expansion of our virtual payment
solution. The Australian MasterCard license means that we can grow our
business more effectively in the Australian market.”
About WEX
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 cardholders and offering exceptional payment security and
control across a wide spectrum of business sectors. The Company’s
operations include WEX Bank, Fleet One, Evolution1, WEX Australia, WEX
New Zealand and WEX Europe, as well as a majority equity position in
UNIK S.A., (Brazil) and WEX Europe Services (England). WEX and its
subsidiaries employ 2,000 associates. For more information, visit www.wexinc.com.
Copyright Business Wire 2015