Corpay Cross-Border Announced as FINA’s Official FX Payments Supplier

Rhea-AI Summary

The Fédération Internationale de Natation (FINA) has partnered with Corpay, a FLEETCOR brand, to provide foreign exchange (FX) solutions. This collaboration aims to streamline currency management for over seventy annual international events, enhancing payment efficiencies. Announced during the 19th FINA World Championships in Budapest, the deal allows FINA to utilize Corpay’s award-winning trading platform for global FX payments. FINA President, Captain Husain Al-Musallam, and Corpay Cross-Border President, Mark Frey, expressed enthusiasm regarding the benefits this partnership will bring to the aquatic community.

Positive

• Corpay provides innovative FX solutions, improving currency management for FINA's international transactions.
• The partnership is expected to drive financial efficiencies across more than seventy annual events.

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• None.

BUDAPEST, Hungary--(BUSINESS WIRE)-- The Fédération Internationale de Natation (FINA) and Corpay, a FLEETCOR® (NYSE: FLT) brand and global leader in business payments, are today delighted to announce a multi-year collaboration that will see Corpay Cross-Border group provide their foreign exchange (FX) solutions to FINA. This new deal was announced on the occasion of the 19^th FINA World Championships Budapest 2022, which is playing host to the leading aquatics athletes from across the globe.

FINA and the wider FINA Family will gain access to Corpay’s innovative foreign exchange solutions to help manage currency exposure for international payments. In addition, Corpay Cross-Border’s award-winning trading platform will enable FINA to manage global foreign exchange payments from one single point of access.

As the global governing body of six aquatic disciplines – Swimming, Water Polo, Diving, High Diving, Artistic Swimming and Open Water Swimming – FINA’s collaboration with Corpay Cross-Border will create valuable opportunities for the global aquatic’s community, event hosts and FINA partners providing international payments and foreign exchange solutions and capabilities.*

FINA President Captain Husain Al-Musallam expressed his confidence in the partnership with Corpay: “We are very excited to have Corpay Cross-Border join the FINA family at such an exciting time for the Federation. With more than seventy international events annually, this collaboration is certain to help drive financial efficiencies with the multiple foreign currency transactions we undertake with our event hosts, member federations and partners on an annual basis.”

Corpay Cross-Border President, Mark Frey continued “Corpay Cross-Border is very honoured to join the FINA family as their Official FX Payments Supplier. I am confident that FINA and the broader FINA Family will benefit from access to our comprehensive cross-border payments and FX risk management solutions, along with our payments experience gained within the world of sports.” “We look forward to helping them power their global payments and execute their plans to manage their currency risk for many years to come.”

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 International Swimming Federation/ Fédération Internationale de Natation
Founded in 1908, FINA is the global governing body for aquatics sports. FINA’s main objectives is to promote and encourage the development of Aquatics throughout the world, ensuring fair competition and universality in participation. Comprising 209 affiliated National Member Federations on six continents it is headquartered in the Olympic capital city of Lausanne (SUI). FINA and its aquatic disciplines are a pillar of the Olympic Movement and give a decisive contribution to the success of the Games. Five FINA disciplines currently feature on the quadrennial Olympic programme – Swimming, Water Polo, Diving, Artistic Swimming and Open Water Swimming.

¹ “Corpay” (a Fleetcor (NYSE: FLT) brand) in this document primarily refers to the Cross-Border Division of Corpay https://payments.corpay.com/cross-border; a full listing of the companies that are part of the Corpay brand is available here: https://payments.corpay.com/compliance.

* Subject to credit and compliance approval from the relevant Corpay company.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220622005024/en/

Corpay Contact:

Brad Loder

VP, Cross-Border Marketing

(647) 627-6635

brad.loder@corpay.com

FINA Contact:

Torin Koos

Communications Manager

+41 21 310 47 10

torin.koos@fina.org

Source: Corpay

FAQ

What is the partnership between Corpay and FINA about?

Corpay will provide foreign exchange solutions to FINA to manage currency exposure for international payments.

When was the partnership between FINA and Corpay announced?

The partnership was announced during the 19th FINA World Championships in Budapest, 2022.

What does Corpay offer to FINA as part of their collaboration?

Corpay offers access to its FX solutions and trading platform to manage global currency payments efficiently.

What benefits does this partnership bring to FINA?

The partnership is expected to enhance payment efficiencies and improve currency management across FINA's events.

Who is the President of FINA and what did he say about the partnership with Corpay?

FINA President Captain Husain Al-Musallam expressed excitement about the partnership, emphasizing its potential to drive financial efficiencies.