TECHNOLOGY,BUSINESS STRATEGY

WEX Announces Plans to Acquire Exxon Mobil Business Card Portfolio

WEX | August 01, 2022 | Read time : 01:36 min

WEX Announces Plans to Acquire Exxon
WEX (NYSE: WEX), the global commerce platform that simplifies the business of running a business, is announcing today that it has plans to acquire the Exxon Mobil Business Card program. The acquisition will be contingent upon certain conditions and subject to closing. Upon completion of the acquisition, all of ExxonMobil’s commercial card portfolio will be consolidated and administered by WEX.

“The ExxonMobil Team at WEX is very excited by the prospect of welcoming these customers to our North American portfolio of business, completing the consolidation of all ExxonMobil’s commercial card business at WEX,Customers will enjoy the same benefits, purchasing controls, and savings opportunities as all other Exxon Mobil BusinessPro customers across the U.S. and Canada.”

-Gene Currier, vice president and business manager at WEX.

The Exxon Mobil BusinessPro program provides convenience, security, and control for small businesses. The program supports a private label, revolving credit card offering which can be used at over 12,000 Exxon™ and Mobil™ locations within the United States, plus cross-border acceptance in Canada. Its simplistic interface is designed for small business customers who typically fuel at the same stations near their home base.

Cardholders can save with fuel rebates of up to 6 cents per gallon on all Synergy™ fuel grades*. In addition to savings with the rebate, cardholders enrolled in the Exxon Mobil Rewards+™ program continue to earn points on fuel purchases, such as 4 bonus points per gallon on fuel when qualified as a Frequent Filler™ member**.

“The consolidation of the Exxon Mobil Business Card into our Exxon Mobil BusinessPro program with WEX will provide a simplified commercial card offer for prospective customers,WEX has been a valued partner for ExxonMobil, delivering excellent service and offerings to fleets and small businesses.”

-Austin Johansen, fleet marketing manager at ExxonMobil.

To learn more about Exxon Mobil BusinessPro™ account features, visit www.newwexfuelcard.com.

About WEX
WEX (NYSE: WEX) is the global commerce platform that simplifies the business of running a business. WEX has created a powerful ecosystem that offers seamlessly embedded, personalized solutions for its customers around the world. Through its rich data and specialized expertise in simplifying benefits, reimagining mobility and paying and getting paid, WEX aims to make it easy for companies to overcome complexity and reach their full potential. For more information, please visit www.wexinc.com..

Spotlight

Did you know at least 30% of all products ordered online are returned as compared to 8.89% in brick-and-mortar stores. 92% of consumers surveyed said that they will buy again if product return process is easy whereas 79% of consumers want free return shipping. Check out our new infographic for latest E-commerce product return rate statistics and trends. Around 49% of retailers offer free return shipping now whereas 67% of shoppers check the returns page before making a purchase. 62% of shoppers are more likely to shop online if they can return an item in-store. Whereas, 58% of consumers want a hassle-free “no questions asked” return policy, and 47% want an easy-to-print return label.

Spotlight

Did you know at least 30% of all products ordered online are returned as compared to 8.89% in brick-and-mortar stores. 92% of consumers surveyed said that they will buy again if product return process is easy whereas 79% of consumers want free return shipping. Check out our new infographic for latest E-commerce product return rate statistics and trends. Around 49% of retailers offer free return shipping now whereas 67% of shoppers check the returns page before making a purchase. 62% of shoppers are more likely to shop online if they can return an item in-store. Whereas, 58% of consumers want a hassle-free “no questions asked” return policy, and 47% want an easy-to-print return label.

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FINANCE

Funding Circle, DreamSpring Partner to Increase Access to Capital for Small Business Owners in Underserved Communities

Funding Circle | July 06, 2022

Funding Circle, one of the nation’s leading online small business loans platforms, and DreamSpring, a nonprofit community development financial institution (CDFI) with nearly 30 years of experience in community lending, have launched a new partnership to increase access to funding for small business owners in underserved communities across the nation. The new partnership aligns with both organizations’ shared commitment to advancing entrepreneurship and innovation by providing equitable access to capital to small businesses. Through this lending-as-a-service program, DreamSpring will be able to expand its distribution and impact throughout the nation and originate more loans faster and at a lower cost, all while ensuring a seamless experience for customers. DreamSpring small business customers who apply through the co-branded application portal will receive one-on-one support from a dedicated Funding Circle Account Manager, an approval decision in a matter of hours and access to funds in as few as 48 hours. “We are excited to offer financial institutions our customizable end-to-end lending platform and technology that we have spent the last 12 years developing, said Angus Sanders, Chief Revenue Officer of Funding Circle US. We look forward to seeing the positive impact our partnership with DreamSpring has on communities across the country, especially those underserved.” “At DreamSpring, we lend at the intersection of mission, technology, and heart. Our relationship with Funding Circle will be transformational—empowering entrepreneurs to rapidly access funding necessary for job creation and small business growth, Together, we will provide the flexibility and resources small business owners need to navigate today's changing economic climate.” -Francisco Lopez, Chief Operations and Innovations Officer at DreamSpring. Funding Circle is committed to helping small businesses get the funding they need to thrive by working closely with financial institutions—including national, regional and community banks and community development financial institutions (CDFIs)—to achieve this mission, most recently launched a small business lending-as-a-service partnership with Pitney Bowes. A study published by the Philadelphia Federal Reserve this year found that Funding Circle has been able to expand credit access to underserved small business owners who are not likely to receive funding from traditional lenders, and has done so at a lower cost to borrowers. The study also noted Funding Circle’s partnerships with community institutions made it possible for those banks to reach new customers during the pandemic. About Funding Circle: Funding Circle (LSE: FCH) is a small and medium enterprise (“SME”) loans platform. Since launching in 2010, investors and lenders across Funding Circle's geographies - including banks, specialty finance companies, asset management companies, insurance companies, government-backed entities and funds - have provided approximately $18 billion to over c.120,000 businesses globally. About DreamSpring: DreamSpring is a nonprofit community lender dedicated to eliminating systemic wealth inequities and accelerating the economic inclusion and strength of underserved communities. Founded in 1994, the organization, which operates in 19 states, provides rapid access to capital and customized wrap-around support to the most vulnerable small business owners, focusing on communities including people of color, women, low- to moderate-income earners, people with disabilities, and start-ups. To date, DreamSpring has issued more than 42,000 loans totaling over $465 million to small businesses that support an estimated 72,000 jobs. Learn more at DreamSpring.org.

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MARKETING AND NETWORKING,BUSINESS STRATEGY

Tailwind Launches Expanded Email Marketing Capabilities in Continued Evolution as a Full-Suite Marketing Platform

Tailwind | July 16, 2022

Tailwind, a leading small business marketing software platform, has now made email marketing integrated with social content generation and scheduling accessible on all new Tailwind subscription plans, including the free plan. The move marks an important step towards Tailwind's vision of offering an end-to-end marketing automation experience for small business owners. "What we set out to create was a marketing system with unique tools that would save a lot of time, not a little, and would act like the marketing team our members needed," Tailwind's CEO and Co-Founder, Daniel Maloney. We started with social media scheduling and publishing in the distribution space, specifically for Instagram and Pinterest, and moved the core experience to multi-network with the addition of Facebook publishing. Now, we've added email creation and publishing to the offering so users can manage distribution on their most important channels from within our platform. Tailwind's users will now be able to manage their email list, create campaign emails personalized to their brand and build email automation workflows alongside their social media campaigns within the new tool. "Tailwind makes it easy to keep it all in alignment. I have so many tools and accounts and Tailwind makes it so simple, Without it, it's complicated so I don't send as many marketing emails as I should." -Christine Martell, Founder of Visuals Speak and Tailwind subscriber. We've found that a few repeated patterns really hurt small business success, including prioritizing just one or two marketing channels, not having a clear strategy or system, and struggling with the creative elements of marketing. Email marketing is no exception," says Paul Yokota, Lead Product Manager at Tailwind. By adding easy-to-use email capabilities with clear use cases within our product, we're alleviating the stress of managing that channel for small businesses. We're also providing the tools to help grow their businesses, save time and level up their marketing efforts across the board. About Tailwind: Launched in 2015, Tailwind is a leading small business marketing platform that helps entrepreneurs, creators, sellers and marketers plan, create and execute world-class marketing campaigns across digital marketing platforms including Email marketing, Facebook, Instagram and Pinterest.

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MARKETING AND NETWORKING

Business Warrior Announces Uplisting to OTCQB Venture Market

Business Warrior | August 26, 2022

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