Corpay Announces New Sponsorship of the Small Business Association for International Companies

Rhea-AI Summary

Corpay, a brand of Fleetcor (NYSE: FLT), has been designated as a Diamond-level Sponsor and endorsed provider for the Small Business Association for International Companies (SBAIC). This partnership allows nearly 200 small businesses in the U.S. to leverage Corpay's cross-border payment solutions and foreign currency exchange services. The collaboration aims to help SBAIC members manage foreign exchange exposure and streamline global payments, enhancing their international business operations. Corpay's VP of Channels expressed confidence that this relationship will significantly benefit SBAIC's members.

Positive

• Corpay becomes a Diamond-level Sponsor for SBAIC, enhancing visibility.
• Partnership provides SBAIC members access to comprehensive cross-border payment solutions.
• Collaboration enables small businesses to manage foreign currency exposure effectively.

Negative

• None.

Sponsorship will provide SBAIC members access to cross-border payments and foreign currency exchange solutions

TORONTO--(BUSINESS WIRE)-- Corpayⁱ, a Fleetcor (NYSE: FLT) brand that provides integrated cross-border payments and currency risk management solutions, is pleased to announce that they have been named a Diamond-level Sponsor and endorsed provider of global payments and foreign currency exchange solutions of the Small Business Association for International Companies (“SBAIC”).

SBAIC is a trade organization that is comprised of almost 200 small businesses across 25 U.S. states that support USAID and other Federal agencies. Through this partnership, SBAIC members and their companiesⁱⁱ located across the United States, will be able to gain access to and utilize Corpay’s innovative solutions to help mitigate foreign exchange exposure for their day-to-day business needs. Additionally, Corpay’s award-winning trading platform will enable SBAIC’s members to manage their global payments from a single point of access.

“Corpay is very pleased to become both a sponsor and endorsed partner of SBAIC. I am confident that SBAIC’s members located across the U.S. will benefit greatly from our unmatched service and access to our comprehensive cross-border payments and FX risk management solutions.” said Frank Mannarino, VP, Channels & Alliances, Corpay Cross-Border Solutions. “The team at Corpay looks forward to helping members power their international payments, execute plans to manage their currency risk and support their growth around the world.”

“Corpay has been instrumental helping Connexus Corporation to deliver exotic currencies efficiently to our international development projects. After my firm, Connexus Corporation, learned that we could obtain significant cost savings by utilizing Corpay instead of our bank to make foreign currency transfers, I wanted other small businesses to potentially benefit from Corpay's services. I proposed that Corpay become a corporate sponsor of SBAIC so it could show our members how they too could access better forex services at a lower price.” Anita Campion, Executive Chair of SBAIC, President and CEO of Connexus Corporation

About Corpay
Corpay is a global leader in business payments, helping companies of all sizes better track, manage and pay their expenses. Corpay provides customers with a comprehensive suite of online payment solutions including Bill Payment, AP Automation, Cross-Border Payments, Currency Risk Management, and Commercial Card Programs. As the largest commercial issuer of Mastercard in North America, Corpay handles over a billion transactions each year. Corpay is part of the FLEETCOR (NYSE: FLT) portfolio of brands. To learn more visit www.corpay.com.

About the Small Business Association for International Companies
Small Business Association for International Companies (SBAIC) is a membership organization established to promote the meaningful utilization of U.S. small businesses at U.S. government agencies providing foreign assistance. These U.S. government agencies include: U.S. Agency for International Development (USAID), Millennium Challenge Corporation (MCC), Overseas Private Investment Corporation (OPIC), and the U.S. Departments of State, Defense, Health and Human Services and Agriculture. To learn more visit www.sbaic.org.

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ⁱ _{“Cambridge Global Payments” and “AFEX” are trading names that may be used for the international payment solutions and risk management solutions provided by certain affiliated entities using the brand “Corpay”. International payment solutions are provided in Australia through Cambridge Mercantile (Australia) Pty. Ltd.; in Canada through Cambridge Mercantile Corp.; in Switzerland through Associated Foreign Exchange (Schweiz) AG; in the United Kingdom through Cambridge Mercantile Corp. (UK) Ltd.; in Ireland and the European Economic Area on a cross-border basis through Associated Foreign Exchange Ireland Ltd.; in Jersey and the Channel Islands through AFEX Offshore Ltd.; in Singapore through Associated Foreign Exchange (Singapore) Pte. Ltd. and in the United States through Cambridge Mercantile Corp. (U.S.A.). Risk management solutions are provided in Australia through Cambridge Mercantile (Australia) Pty. Ltd.; in Canada through Cambridge Mercantile Corp.; in the United Kingdom through Cambridge Mercantile Risk Management (UK) Ltd.; in Ireland and the European Economic Area on a cross-border basis through AFEX Markets Europe Ltd.; in Jersey and the Channel Islands through AFEX Offshore Ltd.; in Singapore through Associated Foreign Exchange (Singapore) Pte. Ltd. and in the United States through Cambridge Mercantile Corp. (U.S.A.).}

ⁱⁱ _{*Subject to credit and compliance approval from the relevant Corpay company.}

View source version on businesswire.com: https://www.businesswire.com/news/home/20220118005292/en/

Corpay Contact:

Brad Loder

VP, Cross-Border Marketing

(647) 627-6635

bloder@cambridgefx.com

SBAIC Contact:

Emily Marks

SBAIC Member Services Coordinator

973-590-4918

Memberservices@sbaic.org

Source: Corpay

FAQ

What is the significance of Corpay's partnership with SBAIC?

Corpay's partnership with SBAIC as a Diamond-level Sponsor allows nearly 200 small businesses access to innovative cross-border payment and foreign currency exchange solutions.

How will Corpay's solutions benefit SBAIC members?

Corpay's solutions will help SBAIC members mitigate foreign exchange risks and streamline their global payment processes.

What is Fleetcor's stock symbol?

Fleetcor's stock symbol is FLT, as traded on the NYSE.