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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.
FLEETCOR Technologies (NYSE: FLT) announced a successful amendment of its pro-rata credit facility, increasing its size from
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.
Corpay, a leading business payments provider and part of FLEETCOR (NYSE: FLT), has announced a collaboration with PracBiz Pte Ltd to enhance cross-border payments and foreign currency exchange solutions. This partnership will benefit over 4,000 B2B suppliers using the PracBiz Exchange platform across APAC by granting them access to Corpay's innovative payment and currency risk management solutions. David Britten, Managing Director APAC at Corpay, expressed excitement about the partnership, highlighting the potential for businesses to manage their global payments more effectively.
Fleetcor Technologies, Inc. (NYSE: FLT) has announced a definitive agreement to acquire Global Reach Group, a UK-based cross-border payments provider. This strategic acquisition aims to enhance Fleetcor's scale in cross-border payments, solidifying its position among the largest non-bank providers globally. The deal is expected to close in Q4 2022, pending regulatory approval, and is anticipated to be immediately accretive post-close, with potential synergies to be realized in the following year.
Corpay, a FLEETCOR brand (NYSE: FLT), has announced a new sponsorship agreement with the Hurlingham Polo Association, becoming the official partner of England Polo. This collaboration will provide HPA and its supporters access to Corpay's innovative solutions for managing foreign exchange exposure. The partnership aims to enhance the operational efficiency of local businesses through Corpay's award-winning trading platform, enabling streamlined global payments. VP Brad Loder expressed confidence in the mutual benefits of this partnership.
FLEETCOR Technologies (NYSE: FLT) announced its participation in two upcoming investor conferences. The first will be a fireside chat at Cowen’s 50th Annual Technology, Media and Telecom Conference on
Renewable Energy Group (REGI) has formed strategic alliances with CFN and Pacific Pride, enhancing access to bio-based diesel through expansive cardlock fueling networks across North America. This collaboration aims to promote cleaner fuel adoption, offering REG’s UltraClean BlenD™ and EnDura Fuels™ to a wider customer base. The partnership is projected to open new opportunities for REG, focusing initially on West Coast cardlocks. In 2021, REG produced 480 million gallons of sustainable fuels, achieving a carbon reduction of 4.1 million metric tons.
FLEETCOR Technologies, Inc. (NYSE: FLT) will conduct a virtual fireside chat at the Barclays 2022 Emerging Payments and Fintech Forum on May 17, 2022, starting at 8:40 AM ET. Interested investors can access the presentation via the company's investor relations website.
FLEETCOR is a global business payments company serving North America, Latin America, Europe, and Asia Pacific, helping businesses automate and manage their expenses efficiently.
FLEETCOR Technologies, Inc. (FLT) reported strong financial results for Q1 2022, with revenues up 30% to $789.2 million and net income rising 18% to $218 million. Adjusted net income per diluted share increased 29% to $3.65. The company noted a robust organic revenue growth of 15%, driven by a 39% increase in new sales and a 93% customer retention rate. FLEETCOR raised its guidance, expecting total revenues between $3.335 billion and $3.385 billion for FY 2022, amid positive trends from fuel prices and foreign exchange rates.
Comdata, a FLEETCOR company, has partnered with U.S. Xpress to enhance fleet management operations through the implementation of the Comdata OnRoad program. This innovative payment solution offers professional drivers a universally accepted card for payroll and company funds, enabling zero transaction fees. The OnRoad Card also provides access to real-time reporting, fuel discounts, and comprehensive fraud protection. U.S. Xpress aims to leverage Comdata's expertise to improve operational efficiency and security in their payment systems.
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