Phillips 66, WEX Extend Agreement

Payment solutions firm providing private-label, universal fleet card services

Phillips 66 Gas Stations (CSP Daily News / Convenience Stores)

HOUSTON -- Phillips 66 has signed a multi-year extension with WEX Inc., a leading provider of corporate payment solutions, for WEX to provide private-label and universal fleet card services for the energy company's gas stations.

Through the agreement, WEX will continue to issue fleet cards and provide related payment services to Phillips 66-branded retail customers. Together, WEX and Phillips 66 will expand upon a comprehensive sales and marketing program for direct sales while also supporting the efforts of independent marketers and dealers at more than 7,100 Phillips 66, Conoco, and 76-branded gas stations.

"We're excited to expand our relationship with the Phillips 66 brands and to leverage its strong market presence in the Midwest, Rocky Mountain and West Coast regions of the United States," said Bill Cooper, general manager of fleet OTR and partner channels at WEX. "This agreement underscores our commitment to providing customized payment solutions that help Phillips 66 grow and retain its customer base, increase sales and penetrate new market segments."

"Phillips 66 is proud to extend our agreement with WEX Inc, and look forward to building on the strong growth we have achieved over the past four years," said John Barbour, director of credit card marketing and loyalty programs at Phillips 66. "Collaborating with WEX has allowed us to deepen our relationships with our branded customers and drive new volume to their sites."

South Portland, Maine-based 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 more than 7.8 million cardholders and offering exceptional payment security and control across a wide spectrum of business sectors. Its operations include WEX Bank, Fleet One, Pacific Pride, rapid! PayCard, WEX Australia, WEX New Zealand and WEX Europe, as well as a majority equity position in UNIK S.A., Brazil.

Phillips 66, Houston, is an energy manufacturing and logistics company with midstream, chemicals, refining, marketing and specialties businesses, including gas stations.