Corpay Cross-Border Continues Global Expansion with Launch of New Office in New Zealand

Rhea-AI Summary

Corpay, a leading corporate payments company, has announced the expansion of its Cross-Border business with a new office in Auckland, New Zealand. This move aims to provide localized support and innovative solutions to clients in the region, reinforcing Corpay’s presence in the Asia-Pacific market. The New Zealand office will offer the full suite of Corpay's products, including global payments and currency risk management for wholesale customers. Corpay has been ranked number one for Enterprise Payment Software in four consecutive G2 Market Reports. The company is also looking to hire local talent to enhance its team in New Zealand.

Positive

• Expansion into the New Zealand market enhances Corpay’s presence in the Asia-Pacific region.
• The new office will provide localized support and innovative solutions tailored to the New Zealand market.
• Corpay has been ranked number one for Enterprise Payment Software in four consecutive G2 Market Reports.
• The company is actively seeking top local talent, which could strengthen its workforce.

Negative

• The press release does not provide specific financial data or projections related to the expansion.
• Potential market entry risks in New Zealand are not addressed.
• Increased operational costs due to the new office setup and hiring.

The expansion aims to offer more localized support to clients in the region and provide innovative solutions tailored to the local market

TORONTO--(BUSINESS WIRE)-- Corpay, Inc.*, (NYSE: CPAY), a global leader in corporate payments, is pleased to announce the latest expansion of its Cross-Border business with the establishment of a new office in Auckland, New Zealand. This expansion reinforces the company’s leading position in the payment industry and strengthens its presence in the Asia-Pacific region.

“Our decision to establish a presence in New Zealand underscores our commitment to prioritizing our current and future clients’ evolving needs,” says David Britten, Managing Director, APAC, Corpay Cross-Border Solutions. “While we may not be the first player in the New Zealand market, our years of experience in collaborating with our clients in Australia enable us to provide tailored services that suit their needs. We recognize a profound synergy between these two nations.”

The New Zealand office will provide clients with access to Corpay’s Cross-Border business’s full suite of products, including global payments and in the case of wholesale customers, currency risk management solutions as well.

As a top-tier payment solution provider, Corpay has consistently demonstrated its industry leadership, achieving the prestigious number one ranking for Enterprise Payment Software in 4 consecutive G2 Market Reports. With this track record, Corpay is primed to offer unmatched value to clients in the Asia-Pacific region and globally. As part of its strategic expansion, Corpay is actively seeking top local talents and experienced professionals to strengthen its team in New Zealand.

“We see tremendous potential in New Zealand and are excited to bring our industry-leading services to organizations in the region,” said Mark Frey, Group President, Corpay Cross-Border Solutions. “We have always worked closely with our clients to ensure they’re involved in the products and solutions we build, and look forward to learning more about the New Zealand market in the coming months. With local talents joining our new office, we are confident that we can build a diverse and dynamic workforce that delivers best-in-class products to our clients while contributing to the future growth of Corpay.”

About Corpay

Corpay, Inc. (NYSE: CPAY) is a global S&P500 corporate payments company that helps businesses and consumers pay expenses in a simple, controlled manner. Corpay’s suite of modern payment solutions help its customers better manage vehicle-related expenses (such as fueling and parking), travel expenses (e.g. hotel bookings) and payables (e.g. paying vendors). This results in our customers saving time and ultimately spending less. Corpay Cross-Border refers to a group of legal entities owned and operated by Corpay, Inc.

Corpay – Payments made easy. To learn more visit www.corpay.com.

^*“Corpay” in this document primarily refers to the Cross-Border Division of Corpay, Inc. https://www.corpay.com/cross-border; a full listing of the companies that are part of Corpay Cross-Border is available here: https://www.corpay.com/compliance.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240617338388/en/

Media Contact:

Keera Hart

Senior Account Director

(905) 580-1257

Keera.Hart@kaiserpartners.com



Corpay Contact:

Brad Loder

VP, Cross-Border Marketing

(647) 627-6635

brad.loder@corpay.com

Source: Corpay, Inc.

FAQ

What is Corpay's stock symbol?

Corpay's stock symbol is CPAY.

What new initiative has Corpay announced?

Corpay has announced the launch of a new office in Auckland, New Zealand.

What services will Corpay offer in New Zealand?

Corpay will offer its full suite of products, including global payments and currency risk management solutions.

What is the significance of Corpay's expansion in New Zealand?

This expansion aims to provide localized support and innovative solutions to clients and strengthens Corpay’s presence in the Asia-Pacific region.