Edenred Enters Into an Alliance with American Express in Mexico

LONDON, August 7, 2014 /PRNewswire/ --

Edenred is teaming up with American Express to offer a unique joint fuel card solution for Mexico.  

American Express will now offer its clients a solution combining the specific features of the Ticket Car® fuel card and American Express financing and credit facilities.

This offer will bring companies the advanced functionalities of Ticket Car®, including the country's largest private service station network, advanced monitoring of business expenses, and the ability to deduct fuel expenses and recover VAT with a single statement including all their spending^[1]. This joint solution will also answer the credit needs of companies, especially in the small and mid-sized segment.

"We are pleased that American Express chose Edenred as a preferred fuel card partner in Mexico. This alliance will strengthen our value proposition and allow us to increase the penetration among small and mid-sized companies", declared Diego Frutos, Managing Director of Edenred Mexico.

With this move, Edenred is pursuing its strategy of developing expense management solutions, which are targeted to account for over 20% of consolidated issue volume in 2016.

Edenred, which invented the Ticket Restaurant® meal voucher and is the world leader in prepaid corporate services, designs and delivers solutions that improve the efficiency of organizations and enhance the purchasing power of individuals.  

Edenred solutions ensure that funds allocated by companies are used as intended. These solutions help to manage:  

• Employee benefits  (Ticket Restaurant®, Ticket Alimentación®, Ticket CESU, Childcare Vouchers®, etc.)  
• Expense management processes  (Ticket Car, Ticket Clean Way, Repom, etc.)  
• Incentive and rewards programs  (Ticket Compliments, Ticket Kadéos, etc.)  

The Group also supports public institutions in managing their social programs.  

Listed on the NYSE Euronext Paris stock exchange, Edenred operates in 41 countries, with more than 6,000 employees, nearly 640,000 companies and public sector clients, 1.4 million affiliated merchants and 40 million beneficiaries. In 2013, total issue volume amounted to €17.1 billion, of which almost 60% was generated in emerging markets.  

Ticket Restaurant® and all other tradenames of Edenred programs and services are registered trademarks of Edenred SA.

^[1]Since the 2014 Mexican Tax Reform, only statements issued by fuel card providers certified by the fiscal authorities (SAT) are accepted as proof for tax purposes (companies using other means of payment have to collect invoices from service stations for every expense). The Ticket Car® solution, certified by the SAT, fulfills all the new requirements added in the 2014 Reform, thanks to its private network allowing a high level of control and traceability of business expenses.  

SOURCE Edenred