WEX & Mastercard launch APAC fleet payments network

WEX and Mastercard have formed a strategic partnership to launch a unified fleet payments network across Asia Pacific, including Australia as part of a regional rollout.

The network is designed to combine fuel, vehicle maintenance, tolling and parking payments into a single system for fleet operators in a market where annual fleet-card transaction volumes are estimated at about USD $310 billion, or AUD $435 billion.

The companies describe it as the first unified fleet payments network of its kind in Asia Pacific and expect it to handle billions of dollars in annual transactions as it expands across key markets in the region.

Fleet operators in Asia Pacific often manage spending across separate payment systems, with fuel, maintenance, tolls and parking billed through different channels. As a result, fleet managers can be left reconciling multiple accounts and dealing with fragmented data.

Regional growth

The deal comes as Asia Pacific becomes the fastest-growing fleet management region globally, according to figures cited by the companies. The region accounted for 31% of global fleet-card transaction volumes in 2025 and is projected to grow 14.3% a year through 2030, they said.

The partnership combines Mastercard's global payments network with WEX's fleet management business. Mastercard processed 175 billion transactions in 2025, while WEX processed more than USD $237 billion in total volume across its global commerce platform in the same year, according to the companies.

WEX said the new network is intended to give fleet managers a consolidated view of traditional vehicle costs and broader business spending. It also includes spend controls, line-item reporting and support for businesses operating mixed fleets of conventional, hybrid and electric vehicles.

Matt Arthur, Vice President and General Manager, APAC Mobility at WEX, said the company is seeing demand for simpler payment structures as fleet businesses face operational change and cost pressure.

"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.

"For decades, fleets have used one card for fuel and a patchwork of systems for everything else, leaving fleet managers to stitch it all together. This strategic partnership creates a smarter infrastructure that allows our customers to manage the transition to hybrid fleets and navigate economic volatility with total visibility over their operations," he said.

Single account

Under the proposed structure, businesses could manage fuel, maintenance, tolling, and parking through one account and receive a consolidated invoice. The companies said the approach is intended to reduce administrative work and improve oversight of vehicle-related spending.

Mastercard presented the agreement as part of its push into commercial payments and transport-related transaction flows in the region. Transport remains central to the movement of people and goods across Asia Pacific, where market conditions and operating environments vary widely between countries, it said.

"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," said Anouska Ladds, Executive Vice President, Commercial and New Payment Flows, Asia Pacific, Mastercard.

"Our collaboration with WEX is an essential example of how we scale with impact. By combining our global network with their deep industry expertise, we're helping businesses move faster, operate smarter and prepare for what's next. Together, we're setting a new standard for a future-ready mobility ecosystem," Ladds said.

The partnership also extends a longer commercial relationship between the two companies. WEX said it holds the largest global share by volume in virtual card travel payments and accounts for half of all virtual card payments in the travel sector.