WEX, which works in finances for companies in industries like fleet, travel and healthcare, has a new business savings network called WEX EDGE to help smaller companies get a leg up in doing business, according to a press release.
The program will use pre-negotiated savings and an eCommerce interface to allow smaller fleets and businesses to purchase products and services they need to run their businesses.
The release states that users will be able to access “discounted prices” with WEX EDGE and use their WEX fuel account to make payments.
The service will also aid those looking to purchase tires and book installation appointments on vehicles. The press release states that EDGE will allow clients to purchase tires online, using a partnership with thousands of Bridgestone Retail Operations locations, including Firestone Complete Auto Care and Tires Plus. Users will be able to make the purchases, book appointments and pay all with the EDGE application.
The program also gives access to savings on wireless solutions and other services like Electronic Logging Devices (ELDs) and analytics tools.
Erin Knight, vice president of fleet product and innovation at WEX, said in the release that the current pandemic and global situation had seen customers looking for ways to cut costs and save, which WEX EDGE could help them with.
“We’re excited about the opportunity this platform brings to expand our merchant community and deliver a win-win for both our merchants and customers with access to highly curated offers along with the expanded payment functionality for non-fuel purchases,” she said, according to the release.
Due to the pandemic, WEX has modified its financial forecast for this year, saying the impact on travel and related industries will likely result in a 2 percent to 3 percent drop from its February forecast.
WEX has also recently restructured its corporate payment solutions team, with Mark Aquilina taking the helm as senior vice president of product and strategy of corporate payment solutions.