WEX and Mastercard are working together on a fleet payments network that will bring several types of vehicle-related expenses into one system.
The service is planned for markets across Asia-Pacific, including Australia, and will cover fuel, maintenance, tolls, and parking.
The companies are entering a market with estimated annual fleet-card transaction volumes of USD 310 billion (AUD 435 billion). They expect the network to process billions of dollars in payments each year as it expands across the region. According to WEX and Mastercard, no comparable unified fleet payments network has previously been launched in Asia-Pacific.
In the case of fleet operators, the issue is tracking invoices that are charged through different payment platforms. Fuel costs can be stored in one software while maintenance costs and tolls appear elsewhere. Combining these records can take time and leave the manager without total fleet expenses.
According to the statistics shared by the firms, Asia-Pacific made up for 31% of global fleet card transaction volumes in 2025. This region will also register annual growth of 14.3% up to 2030 that will put it ahead of the rest of the world in terms of fleet management market growth.
Demand for simpler fleet management
WEX reported more than USD 237 billion in processed volume across its global commerce platform over the same period.
Matt Arthur, WEX’s vice president and general manager of APAC Mobility, said fleet businesses increasingly need payment systems that can adapt to changing operating conditions without adding administrative complexity.
“In 2026, the competitive advantage for fleets is found in simplicity. WEX is already a global pioneer in travel and corporate virtual payments; by joining forces with Mastercard in this new capacity, we are bringing that same engine of innovation to the APAC mobility sector,” Arthur said.
He added that fleet managers have traditionally relied on fuel cards alongside separate systems for other expenses. The new arrangement is intended to give businesses better oversight as they manage cost pressures and introduce hybrid vehicles.
One account for different vehicle costs
The planned network allows companies to manage fuel, maintenance, tolls, and parking through a single account, with expenses combined into one invoice. Spending controls and transaction-level reporting is also part of the offering. Businesses will be able to manage conventional vehicles, hybrids, and electric vehicles within the same framework.
For Mastercard, the agreement expands its work in commercial payments and transport-related transactions. Anouska Ladds, the company’s executive vice president for Commercial and New Payment Flows in Asia Pacific, said the sector plays an important role in the region’s economy.
“Transportation is a critical growth engine. It sits at the center of how people and goods move, especially in a diverse region like Asia-Pacific,” Ladds said.
She added that combining Mastercard’s global network with WEX’s sector expertise could help businesses improve efficiency and prepare for changes in mobility.
The agreement builds on the companies’ existing commercial relationship. WEX says it leads the global market by volume of virtual card payments in the travel sector, accounting for 50% of such payments worldwide.
