New Contract Between WEX Bank and NASPO ValuePoint Offers Savings To States and Other Eligible Users
WEX Bank, a wholly owned subsidiary of WEX, a leading financial technology service provider, has signed a multi-year contract with NASPO ValuePoint, the purchasing arm of the National Association of State Procurement Officials, for its fleet card program. The agreement offers participating states and municipalities across the country the full suite of WEX Universal Fleet Card tools and functionality including broad merchant acceptance and sophisticated fraud prevention tools.
“It’s an honor to have been selected by NASPO ValuePoint to serve its member base,” says Bernie Kavanagh, senior vice president and general manager of large fleet at WEX. “WEX has extensive experience serving the federal, state and local public fleet marketplace and we are looking forward to bringing that expertise to NASPO members.”
As NASPO is the nation’s largest procurement cooperative, all participating states will be able to share in the contract. This agreement will reduce the number of purchase orders needed to authorize fuel purchases and allow states to centralize their fueling payment options.
“The WEX Universal card, with sophisticated anti-fraud tools, deep analytics and acceptance at over 95% of gas stations, offers states and local governments more ways to save on their fueling programs,” says Ted Fosket, cooperative contract coordinator at NASPO ValuePoint. “We’re proud to be able to leverage the government experience WEX brings and use it to extend more savings for our members and other public sector entities.”