FLEETCOR Rebrands to Corpay in Shift towards Corporate Payments

Thursday, 07/03/2024 | 15:19 GMT by Jared Kirui

This change aligns with the firm's operations of offering corporate payment solutions.

FLEETCOR will maintain some of its brands despite the rebranding.

The global payments firm FLEETCOR Technologies is rebranding to Corpay. This shift, effective March 25, 2024, aligns with the company's operations of offering corporate payment solutions. According to the press release, the company will maintain its brands in the Vehicle Payments and Lodging Payments segments despite the rebranding.

FLEETCOR Targets Institutional Clients

Ron Clarke, the Chairman and Chief Executive Officer of FLEETCOR, mentioned: "The Corpay name better represents what we do now, which is provide corporate payment solutions. We will use Corpay as the go-to-market brand for our Corporate Payments segment and retain our existing popular go-to-market brands in our Vehicle Payments and Lodging Payments segments."

Corpay specializes in facilitating business payments for international transactions, offering currency risk management and support for global business expansion. With operations spanning 145+ currencies and 200+ countries, Corpay enhances cross-border transactions for businesses globally.

Last year, AC Milan selected Corpay as its official commercial foreign exchange partner. This collaboration expanded Corpay's reach in the global sports arena while providing AC Milan with a payment solution.

Broadening Fintech Partnerships

Beyond sports, Corpay has been actively forging partnerships within the fintech ecosystem. For instance, the firm collaborated with Sila Inc. to offer customers access to various currencies and cross-border payment capabilities across 100 countries.

Besides that, Corpay recently partnered with Netdania to leverage the NetStation platform. The firm's decision to utilize Netdania's NetStation platform underscored its dedication to enhance trading activities within its Cross-Border division.

NetStation provides Corpay with financial market data, news, analysis tools, and capabilities, enabling market analysis, risk management services, and overall client offerings. The platform's features include charting, alerts, calculators, and market data coverage.

Besides that, Cricket Ireland named Corpay Cross-Border as its official foreign exchange partner in January. While the deal underscores financial collaboration, it aims to bolster Ireland's cricket landscape. Corpay has carved a niche in providing commercial FX solutions to football clubs.