WEX Australia – Asia Pacific Payment Market Opportunities

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FirstPartner successfully steered us through the complexity and diversity of Asian payments markets and gave us a really clear view of where to focus our product and market development strategy

Anna George

Head of Product, WEX Australia

WEX Inc is leading global provider of corporate payment solutions across a wide spectrum of business sectors.

The company was seeking to build on a highly successful Australian fuel card and prepaid card businesses by selectively expanding its presence in other Asia Pacific Markets.

WEX Australia approached FirstPartner to undertake a structured assessment of payment markets and regulatory regimes in the Asia Pacific Region to identify, value and prioritise specific opportunities for regional expansion and product diversification.

The work comprised:

  • A high level analysis of regional payment market trends, sizing data and regulatory status to identify priority opportunities
  • A detailed revenue, competitive and regulatory assessment to validate and rank each priority opportunity.
  • Development of channel & proposition strategies
  • Identification of innovative product diversification opportunities opening up as a result of technology and regulatory developments in the region, such as the emergence of distributed ledger technology and the adoption of Open Banking

Throughout the project, FirstPartner worked closely with the WEX regional product team to deliver a stream of structured analysis and recommendations. This provided a quantified, evidence driven basis for the company’s ongoing strategic decision process.

FirstPartner have been great to work with, providing really strong analysis and guidance and responding quickly and effectively whenever we needed additional input

Kathryn Grant

Head of Marketing, WEX Australia

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