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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.
CLC Lodging announces its rebranding as Corpay Lodging, strengthening alignment with parent brand Corpay, a global leader in corporate payments. With 48 years of industry experience, the company maintains its commitment to providing comprehensive workforce travel lodging solutions.
The rebrand introduces several updates, including a redesigned website and mobile app with improved user experience, an expanded hotel network, and enhanced rewards and payment solutions. Under the leadership of Ryan Guthrie, Corpay Group President of Lodging, and Mike Jeffrey, Chief Revenue Officer, the company manages $3.5 Billion in annual global business accommodation spend.
The transition enables customers to access Corpay's broader suite of financial solutions, including vehicle payments, cross-border payments, AP automation, and corporate cards. For hotel partners, the rebrand connects them with Corpay's network of over 800,000 corporate clients and offers streamlined payment processes through virtual credit card solutions.
USAA Perks® and CarAdvise have launched the CarAdvise Fuel program, offering USAA members a 5 cents per gallon discount at over 60,000 fuel locations nationwide. The program, powered by Corpay (NYSE: CPAY), includes major brands like Speedway, 7-Eleven, Casey's, ARCO, Chevron, ExxonMobil, and more.
This initiative expands upon CarAdvise's existing partnership with USAA, which has provided car maintenance savings to members since 2020. The program particularly benefits active-duty military members and their families, demonstrating USAA Perks'® commitment to supporting service members' financial well-being.
Corpay (NYSE: CPAY) has announced the establishment of a new office for its Cross-Border business in Luxembourg, marking a strategic expansion in Europe. The move aims to enhance service offerings for institutional clients and strengthen the company's presence in key financial markets.
Luxembourg, being the largest financial center in the Eurozone and third largest in Europe, presents significant opportunities as the leading jurisdiction for cross-border international fund setups. The location is particularly strategic given that nearly 50% of Luxembourg's workforce is engaged in financial services.
The expansion includes the introduction of institutional solutions such as global multi-currency accounts, global payments, and transaction support services. Roman Sokolowski has been appointed as the branch manager for the new Luxembourg office.
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.