Corpay

Corpay, Inc. (NYSE: CPAY) stands as a global leader in business payments and expense management, serving over 800,000 business clients across 110 countries. The company provides comprehensive payment solutions that streamline accounts payable, manage vehicle-related expenses, facilitate cross-border transactions, and automate corporate spending. With over $4 billion in annual revenue and a market presence spanning vehicle payments, corporate payments, AP automation, and cross-border solutions, Corpay has transformed from a regional fuel card provider into a diversified global payments powerhouse.

The company's evolution represents one of the most successful transformations in the financial technology sector. Originally founded in 1986 as a specialized fuel card provider for commercial fleets, Corpay has grown through strategic acquisitions and organic expansion into a comprehensive business payments platform. Under the leadership of CEO Ron Clarke since 2000, the company has executed over $2 billion in acquisitions in recent years, expanding from $25 million in annual revenue to nearly $4 billion. The 2024 rebrand from FLEETCOR to Corpay reflects this strategic shift, emphasizing the company's broader corporate payments capabilities beyond its original vehicle-focused origins.

Corporay operates through multiple complementary business segments that serve diverse customer needs. The Vehicle Payments division provides fuel cards, toll management, parking solutions, and fleet maintenance services to commercial fleets across North America, Europe, Brazil, and other regions. The Corporate Payments segment offers AP automation, virtual card programs, expense management, and lodging solutions that help businesses control spending and earn rebates. The Cross-Border division enables companies to make international payments across 170 countries in 140 currencies while managing currency risk. This diversified model positions Corpay as a one-stop solution for business payment needs, with Corporate Payments now representing approximately 40% of overall revenue.

The company's technology platform processes billions of dollars in payment transactions annually while providing customers with enhanced visibility, control, and cost savings. Corpay's virtual card network includes over 1 million vendors, enabling businesses to earn substantial rebates on their purchases. The platform integrates seamlessly with existing ERP and accounting systems, automating invoice processing, payment approvals, and reconciliation. With quarterly revenues surpassing $1 billion for the first time in 2024 and consistent double-digit organic growth, Corpay continues to strengthen its position as an essential financial infrastructure provider for businesses worldwide.