WEX Australia, one of the operational units of WEX Inc. (WEX - Snapshot Report) , recently entered into a multi-year fuel card system processing contract with Caltex. This contract extension will allow WEX Australia to further strengthen its relationship with Caltex and help the latter in improving the process of running its fuel card business.
Caltex, which is the only ASX (Australian Securities Exchange, Ltd.) listed transport fuel supplier, has chosen WEX Australia for processing all of its fuel card payments for the next three years. With this contract renewal WEX Australia will continue to serve the fleet card customers of Caltex with payment processing services. It will also continue to render its services to Caltex retailers across more than 1,900 branded retail locations, thereby strengthening its presence in the region.
WEX Australia offers superior industry leading fuel card processing solution to its partners, which helps them to focus on their main function of delivering fuel to customers. We believe that aforementioned partnership will support Caltex in running its fuel card business in an efficient, effective and secure manner.
WEX is an industry-leading corporate payment solutions provider that caters to the needs of a global set of clients and partners through its worldwide operations. The recent contract extension will enable the financial transaction services provider to widen its reach and enhance its operational performance. As a result, the company will now be able to accelerate growth and witness better results.
Earlier this month, WEX entered into an international agreement with Ypsilon.NET AG, which is providing internet travel technology and payment solutions for airlines, consolidators, travel portals and agencies, globally. Through this agreement the financial transaction provider was able to expand its footprint within the travel space in Germany.
Currently, WEX holds a Zacks Rank #2 (Buy).
Other Stocks Worth Watching
Investors interested in the finance sector may also consider Equifax Inc. (EFX - Analyst Report) , MasterCard Incorporated (MA - Analyst Report) and National Interstate Corporation (NATL - Snapshot Report) .
National Interstate, a specialty property and casualty insurer, saw the Zacks Consensus Estimate increasing 7.6% and 7.3% for 2016 and 2017, respectively, over the last 60 days. The company sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Equifax, a financial transaction services provider, witnessed its Zacks Consensus Estimate inch up 0.4% and 0.2% for 2016 and 2017, respectively, over the last 60 days. The company holds a Zacks Rank #2 (Buy).
MasterCard, another financial transaction services provider, saw its Zacks Consensus Estimate inch up 0.8% and 0.9% for 2016 and 2017, respectively, over the last 60 days. The insurer has a Zacks Rank #2.
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