Corpay, Inc. provides corporate payments services for businesses through commercial cards, AP modernization, cross-border payments, vehicle payment solutions and lodging payment services. News about the company commonly covers financial results, guidance updates, investor presentations and developments across its Corporate Payments, Vehicle Payments and Lodging Payments businesses.
Company updates also focus on Corpay Complete, spend management automation, virtual cards, fleet cards, invoice and payment automation, foreign exchange services and global bank accounts. Recent operating themes include multi-rail cross-border settlement, stablecoin and blockchain-based payment capabilities, embedded finance workflows, customer and sports-related FX partnerships, and research on payment automation and expense-management practices.
Corpay Cross-Border (NYSE: CPAY) has announced a partnership with SK Slavia Praha, becoming their Official Foreign Exchange Partner. Through this collaboration, SK Slavia Praha will gain access to Corpay's innovative solutions to:
- Mitigate foreign exchange exposure for day-to-day business needs
- Manage global payments through a single access point using Corpay's award-winning platform
The partnership represents a strategic move for Corpay to expand its brand presence and corporate payments business globally, while aligning with one of Czech First League's most successful football clubs.
Corpay (NYSE: CPAY), a global S&P 500 corporate payments company, has announced its participation in three major investor conferences in March 2025:
- Raymond James Institutional Investors Conference in Orlando, FL on March 3, featuring investor meetings
- Morgan Stanley TMT Conference in San Francisco, CA on March 5, featuring investor meetings
- Wolfe FinTech Forum in New York, NY on March 12, including a fireside chat at 2:30 PM ET
The Wolfe presentation will be accessible to investors and interested parties through Corpay's investor relations website at https://investor.corpay.com/.
Corpay (NYSE: CPAY), a global S&P 500 corporate payments company, has announced a $750 million increase to its Term Loan B credit facility. The leverage-neutral transaction maintains the existing interest rate and maturity terms. The company plans to initially use the proceeds to pay down its revolver balance, resulting in approximately $1.5 billion of undrawn capacity on the revolver.
The transaction received oversubscribed demand, demonstrating market confidence in Corpay's earnings potential. Both Moody's and S&P Global maintained their credit ratings of Ba1 and BB+ respectively, with a stable outlook. The company's management expressed confidence in their 2025 EBITDA and free cash flow outlook, stating they can execute their capital plan without increasing leverage ratio.
Corpay Cross-Border (NYSE: CPAY) has been named the Official Foreign Exchange Payments Supplier for the Federation Internationale de Gymnastique (FIG), the world governing body for gymnastics recognized by the International Olympic Committee.
Through this partnership, FIG will utilize Corpay's solutions to mitigate foreign exchange exposure in their daily operations. The organization will have access to Corpay Cross-Border's award-winning platform to manage global payments from a single access point.
The agreement will benefit FIG's network of 165 national member federations and corporate business partners, providing them access to comprehensive cross-border payments and FX risk management solutions. FIG President Morinari Watanabe expressed enthusiasm about the collaboration, highlighting its potential to streamline the federation's numerous foreign currency transactions.
Corpay (NYSE: CPAY) has launched Multi-Currency Accounts, enabling businesses to manage local and foreign currencies through a single access point. The solution addresses common challenges in international transactions by providing dedicated accounts for different currencies under the business's name.
The service completed a pilot phase and is launching with 12 major traded currencies. Key benefits include simplified currency exchanges, increased payor confidence through local currency accounts, streamlined accounting with unique account identifiers, and 24/7 online access for global communication and multi-currency management.
The development process incorporated customer feedback and industry research to create a solution that helps businesses overcome challenges like complex foreign bank account management, language barriers, and unpredictable rates and fees.
Corpay (NYSE: CPAY) reported strong Q4 2024 results with record revenues of $1,034.4 million, up 10% from Q4 2023. The company achieved 12% organic revenue growth and 21% adjusted EPS growth in Q4, exceeding mid-term targets. Corporate Payments segment grew 20% for the full year.
For full-year 2024, revenues increased 6% to $3,974.6 million, with net income rising 2% to $1,003.7 million. The company deployed over $2.5 billion in capital, including two Corporate Payments acquisitions and $1.3 billion in stock repurchases.
Looking ahead to 2025, Corpay projects revenue growth of 10-12%, with total revenues expected between $4,350-4,450 million. The company forecasts adjusted net income per diluted share between $20.75-21.25 and approximately $1.5 billion in free cash flow.
Corpay (NYSE: CPAY) has announced the signing of definitive documents to acquire Gringo, a leading Brazilian vehicle registration and compliance payment company. Gringo operates as a super app for car drivers in Brazil, facilitating instant payments for vehicle taxes, registration, and fines through its digital platform and national network.
The acquisition marks Corpay's second deal in the 'car debts' category. Gringo currently serves 2.5 million monthly active users and is experiencing over 30% annual revenue growth. The car debts addressable segment is approximately three times larger than tolls and less penetrated, offering significant growth potential.
The deal is expected to increase Brazil's overall organic revenue growth rate by three percentage points this year. Corpay plans to integrate its full suite of vehicle payment products, including tolls, fuel, parking, and insurance, with Gringo's platform. The transaction is pending regulatory approval and anticipated to close near the end of Q1 2025.
GasBuddy has launched its new Pay with GasBuddy+™ card, offering drivers up to 33 cents per gallon savings on fuel purchases. The card, powered by Corpay (NYSE: CPAY), extends beyond fuel discounts to provide savings at convenience stores nationwide where Mastercard is accepted.
Key benefits include: 3¢/gal on every fill-up, 5¢/gal at select stations, up to 30¢/gal with activated Deal Alerts, and 3¢/gal savings for every $25 spent on non-fuel purchases inside convenience stores. Premium cardholders can save up to 50¢/gal with activated Deal Alerts.
With Americans spending $2,000 to $4,000 annually on fuel, the card's savings potential could result in hundreds of dollars in annual savings. The card is available for free signup with no credit check required.
Guidewire (NYSE: GWRE) has appointed Jeff Sloan to its Board of Directors, effective January 21, 2025. Sloan, who served as CEO of Global Payments Inc. (NYSE: GPN) through June 2023, brings significant executive leadership experience in financial services and technology industries.
During his tenure at Global Payments, Sloan led the company's rise to the Fortune 500 as a leading technology-enabled, software-driven payments business. Prior to serving as CEO, he was Global Payment's president from 2010 to 2013 and a partner at Goldman Sachs. He currently serves on the board of directors of Corpay (NYSE: CPAY), a global leader in corporate payments.
The appointment comes as Guidewire Cloud Platform establishes itself as the trusted platform for P&C insurers globally, positioning the company for continued growth and innovation.
Jack Henry (JKHY) highlights its successful partnership with Corpay for international wire transfers since September 2023. The collaboration integrates Corpay's Cross-Border Solutions with Jack Henry's platform through jXchange™, ensuring secure data exchange and maintaining data integrity.
Peapack Private Bank & Trust reports successful onboarding of over 200 clients to Corpay's platform, praising their communication and service quality. Corpay is developing a new user interface and digital wallet capabilities to enhance services for Jack Henry Wires customers.
The partnership combines core banking technology with cross-border payment processing to streamline operations and improve global payment experiences. Corpay will also serve as the provider for international wire transfers via the Jack Henry Wires™ platform, which offers next-generation capabilities for creating, sending, and receiving wire transfers for community and regional financial institutions.