11/19/2019 | Press release | Distributed by Public on 11/19/2019 01:14
In addition to its existing Electronic Money Institution ('EMI') licence in the United Kingdom, WEX has been granted a second EMI licence in the Netherlands
LONDON--(BUSINESS WIRE)--Nov. 19, 2019-- WEX (NYSE:WEX), a leading financial technology service provider, announced today that it obtained a second EMI licence in Europe to support its growth across the continent.
In addition to its existing UK-based EMI, WEX, has obtained an EMI licence in the Netherlands which enables WEX to provide services as a payment institution to WEX's European customers from the Netherlands.
This move underpins WEX's European growth strategy. The company will serve customers across EU and non-EU countries from both their UK and Netherlands offices.
'It's an extremely exciting time at WEX, as we have our eyes firmly set on reaching out further into Europe,' announced Anant Patel, Vice President for WEX's Corporate Payments and Travel business across EMEA and APAC. 'We are thrilled to announce that our growth strategy is now supported by our new Netherlands-based EMI. It strengthens our commitment to working across Europe and enables us to continue delivering a seamless international payments experience.'
Powered by the belief that complex payment systems can be made simple, WEX (NYSE: WEX) is a leading financial technology service provider across a wide spectrum of sectors, including fleet, travel and healthcare. WEX operates in more than 10 countries and in more than 20 currencies through more than 4,900 associates around the world. WEX fleet cards offer 14 million vehicles exceptional payment security and control; purchase volume in its travel and corporate solutions grew to approximately $34.7 billion in 2018; and the WEX Health financial technology platform helps 343,000 employers and more than 28 million consumers better manage healthcare expenses. For more information, visit www.wexinc.com.
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