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Wright Express will add workers.
Byline: Edward D. Murphy
Nov. 1--Wright Express and Citi, two of top issuers of credit cards for commercial vehicle fleets, are teaming up in a deal that will lead to more jobs in Maine.
Wright Express said Wednesday it will handle all the processing for commercial, oil company-branded cards issued by Citi, the parent company of Citibank and one of the largest financial services companies in the world.
The work means Wright Express will need to hire more than 100 people, said Michael Dubyak, president and chief executive officer of the South Portland-based company.
Before the agreement, Citi and Wright Express were competitors vying to serve the operators of commercial vehicle fleets. Citi issues credit cards in the name of Shell and Sunoco, while Wright Express offers ExxonMobil and Sheetz cards, according to the Nilson Report, which covers the credit card industry.
Wright Express also issues its own "universal" cards, which can be used at most service stations by drivers operating vehicles from the fleets of companies or government agencies that are customers of Wright Express.
"They have been a competitor of ours," Dubyak said of Citi. "By forming this alliance, we really remove them as a competitor and line them up next to us." It also makes the Wright Express processing operation a leader among companies that serve the industry segment that consists of oil company-branded cards for fleet operators.
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