Corpay, Inc. is a global corporate payments company that helps businesses and consumers manage and pay their expenses more efficiently. The company offers a comprehensive suite of payment solutions designed to streamline various financial transactions. Corpay sells digital payment solutions that enhance control, visibility, and security over spending activities.
- Vehicle Payments - Provides solutions for managing vehicle-related expenses such as fueling, tolls, car registrations, and parking, offering greater control and visibility over employee spending compared to traditional payment methods.
- Corporate Payments - Simplifies and automates vendor payments, streamlining back-office operations with accounts payable automation, virtual cards, cross-border payments, and purchasing and travel and entertainment cards.
- Lodging Payments - Manages travel-related lodging expenses, including hotel and extended stay bookings, and caters to lodging needs for disrupted passengers in the airline industry.
- Other Payment Solutions - Offers gift and payroll cards, fleet maintenance, employee benefits, and long-haul transportation-related services.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Ronald F. Clarke ExecutiveBoard | Chief Executive Officer | Ronald F. Clarke has served as the Chief Executive Officer of Corpay, Inc. since August 2000 and was appointed Chairman of the Board in March 2003. Previously, he held executive roles at AHL Services, Inc., ADP, Booz Allen Hamilton, and General Electric. | View Report → | |
Alan King Executive | Group President—International Vehicle Payments | Alan King is a seasoned executive who currently serves as Group President—International Vehicle Payments at CPAY since December 2023. Previously, he led CPAY’s Global Fleet and Europe, Australia, and New Zealand Fuel operations, building on an extensive background in payments and financial services from roles at Mastercard, VISA, and Citibank. | ||
Alissa B. Vickery Executive | Chief Accounting Officer | Alissa B. Vickery has been CPAY's Chief Accounting Officer since September 2020 , and she previously served as interim CFO from October 2022 to May 2023. She also held the position of Senior Vice President of Accounting and Controls at CPAY and has extensive financial leadership experience from her prior roles at Worldpay and in public accounting. | ||
Armando L. Netto Executive | Group President—Brazil and U.S. Vehicle Payments | Armando L. Netto serves as Group President—Brazil and U.S. Vehicle Payments at CPAY since December 2023. He previously held the role of Group President—Brazil from June 2014 and has gained extensive leadership experience from his work at TIVIT, Unisys, and McKinsey. | ||
Annabelle G. Bexiga Board | Director | Board Member at Triton International Limited; Board Member at StoneX Group Inc.; Board Member at DWS Group GmbH & Co. KGaA; Board Member at Quantexa Ltd. | Annabelle G. Bexiga is a Director at CPAY since January 27, 2023. With extensive leadership in technology and financial services, she previously served as Chief Information Officer at AIG from 2015 to 2017 and at TIAA from 2010 to 2015, along with leadership roles at Bain Capital and JP Morgan Chase. | |
Archie L. Jones Board | Director | Managing Director of Six Pillars Partners; Professor at Harvard Business School; Board member of Project Evident | Archie L. Jones, Jr. is a Director at CPAY since 2020, bringing extensive expertise in investment, corporate finance, and mergers and acquisitions. He has previously held executive roles—including Managing Director at Six Pillars Partners, Professor at Harvard Business School, and board member of Project Evident—demonstrating a diverse background across multiple industries. | |
Gerald C. Throop Board | Director | Lead Independent Director and Audit Committee Chair at Ceridian (NYSE: DAY) | Gerald C. Throop serves as a Director on the Board of Directors of CPAY since July 28, 2023. He brings over 30 years of financial services experience, having held significant roles in global equities and corporate finance, and he serves as a Member of the Audit Committee. | |
Hala G. Moddelmog Board | Director at CPAY | Board member at Lamb Weston Holdings, Inc. | Hala G. Moddelmog has served as a Director at CPAY since 2017 and actively participates in key committees such as the Compensation and Nomination & Governance Committees. She brings extensive leadership experience from previous executive and board roles, including CEO positions at other organizations. | |
Jeffrey S. Sloan Board | director | Jeffrey S. Sloan has been a director at CPAY since 2013 and serves on the Executive & Acquisitions Committee as well as the Information Technology & Security Committee, bringing over 30 years of experience in the financial services and payments industries. | ||
Joseph W. Farrelly Board | Director | NetNumber Inc. | Joseph W. Farrelly has been a Director at CPAY since 2014. He brings extensive experience in IT, security, advertising, and marketing from his previous roles at Interpublic Group and other organizations. He also serves on multiple committees at CPAY, including the Compensation Committee and the Executive & Acquisitions Committee as Chair. | |
Rahul Gupta Board | Director | Mitek Systems; SavvyMoney; Amount, Inc.; Exact Payments; Capital Good Fund | Rahul Gupta, with over 37 years of experience in financial services and payments, is currently serving as a Director at CPAY since March 2023. Previously, he held executive roles at RevSpring, Fiserv, and eFunds and has served on several external boards. | |
Richard Macchia Board | Director | Richard Macchia has been a Director at CPAY since 2010 and serves as the Chair of the Audit Committee with recognition as a Financial Expert. He brings over 20 years of financial and information services experience from previous roles such as CFO and Senior VP of Administration at Internet Security Systems Inc.. | ||
Steven T. Stull Board | Director, Lead Independent Director | CEO and Co-Founder of Advantage Capital Partners | Steven T. Stull has been a Director at CPAY since 2000 and has served as the Lead Independent Director since 2020. He brings extensive experience in investments and corporate governance, and he is also the CEO and Co-Founder of Advantage Capital Partners. | |
Thomas M. Hagerty Board | Director | Managing Director at Thomas H. Lee Partners, L.P. ; Board member at Black Knight, Inc. ; Board member at Ceridian HCM Holding Inc. ; Board member at Fidelity National Financial, Inc. ; Board member at Dun & Bradstreet Holdings, Inc. ; Board member at Dayforce, Inc. | Thomas M. Hagerty has served as Director at CPAY since 2014. He is a member and Chair of several CPAY committees and brings over 30 years of expertise in private equity and corporate governance, including serving as Managing Director at Thomas H. Lee Partners, L.P. since 1994. |
Research analysts who have asked questions during CORPAY earnings calls.
Andrew Jeffrey
William Blair & Company
2 questions for CPAY
Darrin Peller
Wolfe Research, LLC
2 questions for CPAY
David Koning
Robert W. Baird & Co.
2 questions for CPAY
John Davis
Raymond James Financial
2 questions for CPAY
Ken Suchoski
Autonomous Research
2 questions for CPAY
Mihir Bhatia
Bank of America
2 questions for CPAY
Nate Svensson
Deutsche Bank
2 questions for CPAY
Ramsey El-Assal
Barclays
2 questions for CPAY
Sanjay Sakhrani
Keefe, Bruyette & Woods (KBW)
2 questions for CPAY
Tien-tsin Huang
JPMorgan Chase & Co.
2 questions for CPAY
Trevor Williams
Jefferies LLC
2 questions for CPAY
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Competes with the company's fuel solutions offerings. | |
U.S. Bank Voyager Fleet Systems | Competes with the company's fuel solutions offerings. |
Edenred | Competes with the company's fuel solutions and toll solutions offerings. |
Sodexo | Competes with the company's fuel solutions offerings. |
Alelo | Competes with the company's fuel solutions and toll solutions offerings. |
Radius Payment Solutions | Competes with the company's fuel solutions offerings. |
DKV | Competes with the company's fuel solutions offerings. |
ConectCar | Competes with the company's toll solutions offerings. |
Veloe | Competes with the company's toll solutions offerings. |
Repom | Competes with the company's toll solutions offerings. |
ParkMobile | Competes with the company's parking solutions offerings. |
ParkHub | Competes with the company's parking solutions offerings. |
Parking BOXX | Competes with the company's parking solutions offerings. |
FLASH | Competes with the company's parking solutions offerings. |
Competes with the company's corporate payments solutions offerings. | |
Coupa | Competes with the company's corporate payments solutions offerings. |
AvidXchange | Competes with the company's corporate payments solutions offerings. |
Competes with the company's corporate payments solutions offerings. | |
Convera | Competes with the company's corporate payments solutions offerings. |
American Express Global Business Travel | Competes with the company's lodging solutions offerings. |
Competes with the company's gift and payroll card solutions offerings. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Gringo | 2025 | Signed in February 2025, the acquisition agreement for Gringo was for approximately $147.0 million, net of $22 million cash; it is strategically designed to strengthen the Vehicle Payments segment in Brazil by leveraging its digital app serving 2.5 million monthly users and is expected to add +3% revenue growth, subject to regulatory approval. |
Paymerang | 2024 | Closed on July 1, 2024, this acquisition was valued at approximately $469 million, net of cash; it expands the company’s reach in multiple sectors such as education, healthcare, hospitality, and manufacturing, with expected incremental revenue of $25–$35 million in the remaining months of 2024. |
GPS Capital Markets, LLC | 2024 | Agreed in June 2024 for roughly $725 million, this strategic acquisition adds B2B cross-border and treasury management capabilities, including a blue‐chip client roster and market-leading FX netting technology, with expected accretion to revenue and EPS growth in 2025, subject to a regulatory closing in early 2025. |
Zapay | 2024 | Completed in March 2024, the company acquired a 70% stake in Zapay for about $59.5 million (net of cash) with a right to acquire the remaining stake in four years; this deal expands its Vehicle Payments business in Brazil, with preliminary accounting allocations including $18.6 million in customer relationship intangibles. |
PayByPhone | 2023 | Finalized on September 15, 2023, the acquisition of PayByPhone cost approximately $303.2 million (net of cash) and brought a leading digital parking provider with 35 million registered users and 6 million monthly active users into the Fleet segment, supporting broader EV initiatives and cross-selling strategies. |
Plugsurfing | 2022 | Closed on September 6, 2022 for around $75.8 million, this acquisition of a European EV charging network and software provider has significantly broadened the company’s EV strategy by integrating critical EV assets and expanding access to the consumer EV market. |
Levarti | 2022 | Completed on March 1, 2022 with a net purchase price of $23.7 million, the acquisition of Levarti was financed with cash and borrowings and includes detailed preliminary allocations to goodwill and intangibles, with its results reported in the Lodging segment. |
Recent press releases and 8-K filings for CPAY.
- Corpay and Alpha Group International PLC have announced the satisfaction of regulatory conditions for the previously announced acquisition of Alpha.
- Regulatory approvals were received from the FCA, MFSA, and the Italian FDI Authority, in addition to Alpha shareholder approval on September 22, 2025.
- The acquisition is now expected to close on October 31, 2025, with a Court Hearing scheduled for October 28, 2025.
- Corpay Inc. is proceeding with its acquisition of Alpha Group International PLC after securing key regulatory approvals from the FCA, MFSA, and Italian FDI Authority.
- The acquisition is valued at approximately £1.805 billion and is expected to be effective on October 31, 2025, following a court hearing on October 28, 2025.
- This acquisition is anticipated to enhance Corpay's market position in the financial services industry by integrating Alpha Group's foreign exchange and international payment solutions.
- Corpay, a technology company, has a market capitalization of $20.32 billion and reported $4.17 billion in revenue with an 18% three-year revenue growth rate.
- Corpay and TPG have completed the take-private acquisition of AvidXchange Holdings, Inc., an AP automation and payments solutions provider with $450 million in revenue.
- Corpay invested approximately $550 million for a 34% equity stake in AvidXchange, with an option to purchase the remaining equity.
- The transaction is expected to be slightly accretive to Corpay's earnings in the fourth quarter of 2025 and accretive in 2026.
- Corpay's Cross-Border business has officially joined the United Kingdom’s Faster Payment Service (FPS), enhancing its global payments infrastructure and delivering faster, more efficient service for clients operating in GBP.
- This integration allows Corpay clients to benefit from near-instant payments for both receivables and outbound transfers within the UK, improving speed and reliability.
- Clients will receive dedicated account numbers linked to Corpay’s sort code, which is connected to both the FPS and CHAPS payment schemes, enabling them to send and receive GBP payments through local rails.
- This move is a key milestone in Corpay's product roadmap, extending its Multi-Currency Account (MCA) e-money offering and aligning with the real-time expectations of global businesses.
- Corpay and Mastercard are expanding their long-term partnership to enable large corporations, small businesses, and financial institutions to make real-time payments to 22 new markets across Asia, Europe, the Middle East, Africa, and Latin America.
- This expansion leverages Mastercard Move's extensive network and builds on a strategic partnership established in April 2025, which made Corpay the exclusive provider of large cross-border payment solutions and currency risk management services for Mastercard's financial institution clients.
- The global cross-border payments market is projected to exceed $250 trillion by 2027.
- Mastercard Move supports over 200 countries and territories, more than 150 currencies, and reaches over 95% of global bank account users.
- Corpay and Mastercard are expanding their long-term partnership to offer quasi-real-time payment services to 22 new markets across Asia, Europe, the Middle East, Africa, and Latin America.
- This initiative leverages Mastercard Move's extensive network, which covers over 200 countries and territories and supports 150+ currencies, to facilitate faster, more secure, and transparent cross-border payments.
- The expansion aims to capitalize on the global cross-border payments market, which is projected to exceed $250 trillion by 2027.
- This announcement builds on a strategic partnership established in April 2025, making Corpay the exclusive provider for Mastercard's financial institution clients for large-scale cross-border payments and currency risk management.
- Corpay and Mastercard have extended their collaboration to enable businesses, small businesses, and financial institutions to make near real-time payments to 22 new markets across Asia, Europe, the Middle East, Africa, and Latin America.
- This expansion leverages Mastercard Move's money transfer capabilities and extensive network to provide faster, more secure, and transparent cross-border payments.
- The announcement builds on a strategic partnership established in April 2025, which designated Corpay as the exclusive provider of large-amount cross-border payment solutions and foreign exchange risk management services for Mastercard's financial institutional clients.
- Mastercard Move's portfolio covers over 200 countries and territories and more than 150 currencies, offering access to over 95% of the banked population globally.
- Corpay and Mastercard have expanded their collaboration to enable real-time payments in 22 new markets across Asia, Europe, the Middle East, Africa, and Latin America.
- This initiative leverages Mastercard Move's extensive network to provide faster, more secure, and transparent cross-border payments for businesses and financial institutions.
- The expansion builds on a strategic partnership from April 2025, which made Corpay the exclusive provider of cross-border large payment solutions for Mastercard's financial institution clients.
- This collaboration aims to address the growing demand for efficient transactions, with global cross-border payments projected to exceed $250 trillion by 2027.
- Corpay and Mastercard have expanded their long-standing collaboration to enable near real-time payments to 22 new markets across Asia, Europe, the Middle East, Africa, and Latin America.
- This expansion leverages Mastercard Move's money movement capabilities and extensive network to deliver faster, more secure, and transparent cross-border payments for corporates, small businesses, and financial institutions.
- The announcement builds on a strategic partnership established in April 2025, which designated Corpay as the exclusive provider of large-ticket cross-border payment solutions and currency risk management services for Mastercard's financial institution clients.
- Corpay anticipates total organic growth of 10% to 11% in Q3 2025 and 9% to 10% in Q4 2025, with the 10%+ second-half growth rate considered a sustainable stepping-off point for 2026. The company has consistently achieved 10% or greater organic revenue growth for 4 out of the last 5 years.
- The vehicle payments segment is projected to generate north of $2 billion in revenue in 2025 and is on track for 10% organic growth in the second half of 2025, driven by mid-single-digit growth in U.S. fleet and high teens growth in Brazil. This growth is expected to be sustainable into 2026.
- The corporate payments segment is forecast to grow in the high teens. This growth is supported by the pending $2.2 billion Alpha acquisition (expected to close in Q4 2025, adding at least $0.50 in year one synergies) and a new partnership with Mastercard to expand into financial institutions.
- The lodging segment is expected to perform more negatively in the latter half of 2025 due to lower emergency event volumes and sales issues. Corpay is investing in sales but will consider divesting the business if it does not achieve mid-single-digit or up to 10% growth.