WEX Wrap Up: May 2016

Each month, we share with you some of the news and views from each of our business lines—fleet, travel, healthcare, and more—in something we call the WEX Wrap Up. Here are some of the happenings this month.

WEX Fleet

Some big news from Fleet, who announced earlier in May the extension of a contract with prominent convenience store and gasoline marketer QuikTrip.

“We are honored that QuikTrip has chosen to extend our 23-year relationship,” said Brian Fournier, vice president of fleet partner channels at WEX. “Our industry-leading customer service and proprietary solutions provide QuikTrip’s customers with real-time fuel management monitoring tools and data driven insights that will help them operate more efficiently, effectively and securely. In our experience, this helps companies make smarter business decisions.”

For more, see the entire press release: WEX Inc. and QuikTrip Build on 23-Year Track Record of Fleet Card Success with a Five-Year Contract Extension.

• Surviving Pothole Season: With winter in the rearview, the freeze/thaw cycle has created some major concerns for drivers in the form of potholes. While a pothole can form at any time of the year, they really “spring up” after winter. The wear and tear on the road from traffic causes small cracks in the asphalt, that allow water to seep in to the soil below. When temperature drop low enough, the water freezes and expands, putting force on the pavement that causes it to rise. For tips on keeping your vehicle safe, click here.
• Unnecessary Flying Objects (and how to prevent them): UFOs aren’t just something science-fiction fans find in the sky at night. For fleets, these “unnecessary flying objects” occur when loose items inside a vehicle become dangerous projectiles during a hard stop or crash. Learn some of the tips on preventing loose objects from flying around in Prevent Flying Objects.

Video Series: WEX on Route 66

Join WEX customer Ted as he travels from Chicago to Santa Monica picking up specialty packages along the way. The scenery is gorgeous and the stops are iconic.

• Episode 1: Chicago to Mt. Olive
• Episode 2: Jeff finds gas with WEX Connect and takes in the sights in middle America
• Episode 3: Jeff overcomes engine trouble with Roadside Assistance from WEX
• Episode 4: Jeff makes it to California to deliver the shipment

WEX Index: Gasoline prices continue spring ascent.

US retail gasoline prices started the month of May at a nearly six month high. Also, as OPIS analysts have been predicting since the beginning of the year, the average gasoline price is now greater than the US average for diesel.

WEX Travel

• The Rise of Messaging Technology in Travel: One of the most talked-about—make that the most texted-about—customer service innovations in the travel industry today is instant messaging. Travel companies are increasingly giving customers the opportunity to “chat” on their computer or mobile device with a real-live-customer service agent. See more on this trend here.
• Offering the Best Booking Experience: For most consumers, shopping around online for the best offer and price when booking travel has become the norm. With customers so focused on offering, and with attention spans increasingly short, it’s important that as a travel company you have both a competitive offering and a seamless booking experience. Here’s how.
• Building a Case for Virtual Card Numbers: Despite the prolific growth of technology in the travel industry, B2B payments organizations have been slow in the uptake of alternative payment methods. In building a business case to start leveraging virtual payment solutions, it’s helpful to see what’s convincing the early adopters to get on board with the technology. Let’s explore the compelling evidence that virtual payments represent the future of travel industry B2B payments.
• Answering the Call for Increased Flexibility: Players across the global travel industry are grappling with stricter supplier payment terms. Fortunately, technology is enabling travel companies to satisfy time-sensitive payment terms while delivering incredible organizational value in the process. See three ways that you can answer the supplier call.

WEX Health

• Wearable Technology in the Workplace: New technology, a healthier economy and a need for a healthy workforce are driving some interesting workplace trends this year. Many trends are currently in use, but will continue to grow and come into the mainstream in 2016. See how wearables and Generation Z will impact your business.
• Advantages of Benefits Platforms: Employee benefits are evolving at a rapid pace. They have moved well beyond the initial realm of helping to recruit and retain employees and into a new space that embraces diverse lifestyles, a varied life-staged based workforce, and total health and financial wellness initiatives. Read More.
• Five Trends to Watch: According to PwC’s Health Research Institute Top Health Industry’s Issues of 2016 Report, millions of Americans will have their first telehealth visit, use their first health app, and rely on their smartphone as a diagnostic tool for the first time. And that’s because the industry is changing at a pretty rapid pace. With these changes come several challenges that HRI discusses in its report. They note several key trends that will continue the transformation of the market in new and interesting ways in 2016 and beyond. See the top five trends here.

Infographic: Growing Your Professional Employer Organization

Professional Employer Organizations, or PEOs, provide a vital service to small and medium businesses, providing competitive benefits, effective compliance solutions, and other human resources solutions normally unavailable to businesses the size of your average client. But in managing your organization, you face challenges growing and thriving. The Infographic shares how WEX Health helps.

Keep Up with All the Latest in Payments

WEX has long been the leader in payments—whether that’s Fleet, Travel, Healthcare, Media, Insurance, or more. Stay up to date with all of the latest from WEX and its sub-brands by following WEX on LinkedIn.