WEX Inc., a leading global provider of corporate payment solutions, has announced a strategic partnership with Moneris Solutions Corporation, Canada’s largest credit and debit card processor, in an effort to expand its presence in Canada. The partnership provides petroleum-based businesses with access to Moneris’ PetroTrak point-of-sale and fleet management solution to process WEX Fleet Cards, as well as commercial, credit and debit card payments. The PetroTrak application also helps streamline the reconciliation process by capturing WEX Fleet Card payments in its transaction activity reports and Universal Settlement Files.
Phil Baker, Director of Product Management at WEX, commented “We are excited to partner with Moneris in order to bring premium commercial fleet card solutions to Canada. We look forward to working with Moneris and its merchants to increase the number of locations where WEX fleet customers can use their cards in Canada.”
Moneris currently processes more than 3 billion transactions each year with over 350,000 merchant locations in Canada. Data from RFi Group further suggests that 13% of card accepting merchants consider Moneris to be their main merchant acquirer. The partnership, therefore, offers a great opportunity for WEX to build their footprint in the Canadian market.