Corpay, Inc. CPAY

Company Overview

Corpay, Inc. (NYSE: CPAY), formerly known as FleetCor Technologies, is a corporate payments and expense management company that provides technology-enabled payment solutions to businesses, vehicle fleets, government entities, and consumers. The company operates primarily in the financial technology and business payments industries, with a focus on automating and digitizing commercial payment workflows. Its core revenue drivers include transaction fees, foreign exchange spreads, payment processing fees, subscription and network-related revenues, and associated financial service income tied to payment volume across its platforms.

Corpay’s principal business lines include fuel and fleet payment programs, corporate cross-border payment solutions, lodging payments, toll and mobility payments, and workforce payment products. The company serves commercial fleets, multinational corporations, small and medium-sized businesses, travel intermediaries, and public sector organizations across multiple regions. Corpay evolved from a fleet card operator founded in 2000 and expanded through acquisitions and international growth into broader corporate payments and AP automation markets. The company formally adopted the Corpay corporate brand in 2024 to reflect its diversification beyond fuel-card services.