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Corpay, Inc. - FLT STOCK NEWS

Welcome to our dedicated page for Corpay news (Ticker: FLT), a resource for investors and traders seeking the latest updates and insights on Corpay stock.

Corpay, Inc., a FLEETCOR Technologies company (NYSE: FLT), is a leading global provider of business payment solutions dedicated to helping companies of all sizes better manage, track, and pay their expenses. Corpay offers a comprehensive suite of online payment solutions, including Bill Payment, AP Automation, Cross-Border Payments, Currency Risk Management, and Commercial Card Programs. As the #1 B2B commercial Mastercard® issuer in North America, Corpay processes over a billion transactions each year, ensuring businesses gain complete control and visibility of all transactions while simultaneously reducing costs and maximizing efficiency.

With its recent partnership with Reveel, Corpay has expanded its capabilities by integrating advanced parcel spend management tools into its payment automation platform. This collaboration empowers businesses to streamline their financial operations, optimize costs, and make informed decisions with real-time data. The joint solution also offers cash rebates on most AP transactions, providing additional revenue opportunities for businesses.

Headquartered in Irvine, California, Corpay serves over 500,000 commercial accounts with millions of cardholders across the United States, Canada, Mexico, Europe, Africa, and Asia. The company has experienced significant growth, driven by its core principles of determination, outstanding value, industry-leading products, and a commitment to quality. Over the last decade, Corpay has grown more than 40%, maintaining its position as the world’s largest provider of commercial fleet card programs.

Corpay’s financial technology solutions are designed to consolidate card programs, manage expenses on-the-go, and automate payment workflows. This ensures businesses can mitigate the risk of payment fraud, manage their payment remittance information securely, and achieve compliance with a robust security infrastructure. Corpay’s innovative products and strategic partnerships continue to revolutionize the financial management landscape, providing businesses with the tools they need to succeed in a competitive market.

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FLEETCOR Technologies, Inc. rebrands as Corpay, Inc., with a new ticker symbol CPAY on NYSE, reflecting its corporate payment solutions.
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FLEETCOR Technologies, Inc. (NYSE: FLT) announces rebranding to Corpay, effective March 25, 2024, with a new ticker symbol CPAY. The name change aligns with the Company's focus on corporate payment solutions. Ron Clarke, CEO, emphasizes the shift in branding strategy. Key facts include being an S&P 500® company, serving 800,000+ global business customers, 2023 revenues of $3.75 billion, leading B2B commercial Mastercard® issuer in North America, and recognition in Newsweek's Top 100 Most Loved Workplaces®.
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FLEETCOR Technologies, Inc. (NYSE: FLT) closes majority investment in Zapay, expanding its Vehicle Payments business in Brazil to 9 million drivers. Zapay, Brazil's first digital mobility solution, offers payment services for vehicle taxes, registration, and tickets, with rapid revenue growth of over 60% annually. FLEETCOR has the right to acquire the remainder of Zapay in four years, aiming for cross-selling opportunities and business expansion.
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FLEETCOR Technologies, Inc. (FLT) will participate in key investor conferences in February and March 2024, including Bank of America Financial Services Conference, Citi 13th Annual FinTech Conference, and Raymond James 45th Annual Institutional Investor Conference. Investors can access the presentations via the company's investor relations website.
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FLEETCOR Technologies, Inc. (NYSE: FLT) successfully closed on an amendment to its credit facilities, resulting in a $600 million increase in capacity. The company increased its revolver from $1.5 billion to $1.775 billion and its borrowings under its Term Loan A facility by $325 million. The amendment is leverage neutral and will be used to drive earnings growth through M&A and stock repurchasing in 2024.
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FLEETCOR Technologies, Inc. (FLT) reported record annual revenues and earnings for 2023, with a 10% increase in revenues and 13% increase in EBITDA. The company also plans to repurchase $800 million of shares in 2024. However, there were pockets of softness in some U.S. businesses, impacting fourth-quarter revenue and adjusted earnings per share.
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Corpay, a FLEETCOR brand, has launched Corpay Complete, a spend management platform for corporate payments and spending. The platform integrates corporate cards, expense reimbursements, accounts payable automation, and supplier payments into one mobile-ready solution. It aims to simplify the corporate spending process and provides a centralized hub accessible by multiple profiles. The platform also offers various functions such as purchase order automation, invoice automation, supplier management, payments, corporate card, virtual cards, expense management, and U.S. & International payments.
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FLEETCOR Technologies, Inc. (NYSE: FLT) will host a conference call to discuss Q4 and fiscal year 2023 financial results on February 7, 2024. The call will be led by CEO Ron Clarke, CFO Tom Panther, and investor relations head Jim Eglseder. A press release with financial results will be issued after the market close on the same day. The call will be webcast live and accessible via phone, with a replay available until February 14, 2024.
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Corpay1, a FLEETCOR brand, has entered into an agreement with Cricket Ireland to become their Official Foreign Exchange Partner, providing access to currency risk management and cross-border payments solutions. This partnership will allow Cricket Ireland and their business partners to utilize Corpay's innovative solutions to mitigate foreign exchange exposure and manage global payments from a single point of access.
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CLC Lodging (FLEETCOR) Launches Updated Online Hotel Portal to Streamline Check-In and Improve Guest Experience
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FAQ

What is the market cap of Corpay (FLT)?

The market cap of Corpay (FLT) is approximately 21.8B.

What services does Corpay offer?

Corpay provides a comprehensive suite of payment solutions including Bill Payment, AP Automation, Cross-Border Payments, Currency Risk Management, and Commercial Card Programs.

How does Corpay help businesses manage expenses?

Corpay offers tools to track, manage, and pay expenses while providing complete control and visibility of transactions, reducing costs, and increasing efficiency.

What recent partnership has Corpay entered into?

Corpay partnered with Reveel to integrate advanced parcel spend management tools into its payment automation platform, helping businesses streamline financial operations.

Where is Corpay headquartered?

Corpay is headquartered in Irvine, California.

What is Corpay's standing in the commercial card market?

Corpay is the number-one B2B commercial Mastercard® issuer in North America.

How many commercial accounts does Corpay serve?

Corpay serves over 500,000 commercial accounts with millions of cardholders globally.

What are the core principles driving Corpay's success?

Corpay's success is driven by determination, outstanding value, industry-leading products, and a commitment to quality.

How has Corpay grown over the last decade?

Corpay has grown more than 40% over the last 10 years, maintaining its position as the world's largest provider of commercial fleet card programs.

What kind of payment solutions does Corpay specialize in?

Corpay specializes in intelligent payment automation, consolidating card programs, managing expenses on-the-go, and automating payment workflows.

How does Corpay ensure payment security and compliance?

Corpay mitigates the risk of payment fraud by enrolling suppliers, securely managing payment remittance information, and maintaining a robust security and compliance infrastructure.

Corpay, Inc.

NYSE:FLT

FLT Rankings

FLT Stock Data

21.79B
69.36M
1.56%
Software - Infrastructure
Technology
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United States
Atlanta