Lots of payments companies are growing rapidly these days, but the 41 percent compound annual growth rate of WEX's payments solutions group over the past five years is a standout even among the hottest payments players.
At this year's Card Forum & Expo, newly appointed WEX CEO Melissa Smith will discuss the company's evolution from a fleet card provider Wright Express to renamed major provider of global corporate payments. Where has the company's quest for global domination taken it lately? A travel payments service in Brazil and acquired Corporate Pay in the U.K. Some of its marquise customers: Expedia, Orbitz, Enterprise and Exxon Mobil.
As WEX moves deeper into new markets, different demands and security issues called for different cards and services. In the U.S. — it's mostly credit cards. Internationally, primarily debit and prepaid.
And while Smith's official start as CEO began this year, she’s a 16-year veteran of the company and had a seven month transition period under former WEX CEO Michael Dubyak. As she noted in a recent story in PaymentsSource, "when I became CEO it didn't seem like a big leap to make," she says. "Our board was very thoughtful in succession planning, and I can see that far more now."
WEX's third-quarter earnings reported total revenue for the quarter increased 19% to $191.5 million, from $161 million for the third quarter of 2012.
Read more about Melissa Smith.
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