WEX secured several meaningful customer wins in Q2, including BP, UAW Retiree Medical Benefits Trust, and a large new corporate payments customer.
The BP deal involves a long-term agreement to serve BP's U.S. business, with phased implementation starting in Q4 2023 and portfolio conversion expected in 2026.
These wins highlight WEX's industry-leading capabilities and reinforce its position as a trusted brand in fleet and corporate payments.
Western Union's Strategic Focus on Customer-Centric Growth and Market Leadership
Devin McGranahan emphasized the company's strategy to become a truly customer-centric organization by enhancing omnichannel customer experiences, increasing market competitiveness in key corridors, and building executional rigor.
The strategy aims to return Western Union to sustainable, profitable revenue growth, leveraging investments made over the past two years.
Management highlighted the importance of maintaining above-industry margins, returning capital to shareholders, and building share in retail and digital segments.
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