Consumer banking

GE Capital Forms Partnership to Sell Fuel Cards to Truckers

By Andy Peters June 02, 2015, 9:33 a.m. EDT 1 Min Read

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A financing unit of General Electric has formed a partnership with payroll-services provider WEX to sell fuel cards to trucking companies.

GE and WEX, in South Portland, Maine, will offer the WEX Fleet One OTR Fuel Card to over-the-road trucking companies, the companies said Tuesday. The card will let truck drivers purchase discounted fuel and maintenance services at specific U.S. truck stops, including Pilot Flying J, Speedway, WilcoHess and Ambest locations.

GE has said that it plans to sell off most of its GE Capital unit over the next 18-24 months. The company's GE Capital, Transportation Finance subsidiary, in Irving, Texas, formed the fuel-card partnership with WEX. GE Capital, Transportation Finance provides loans, leases and inventory financing to truck-hauling companies, truck dealers and manufacturers.

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