Corpay, formerly FleetCor Technologies Strengths, Domain Expertise, and Key Differentiators
FleetCor is a global business payment company with a mission to streamline the management and payment of business expenses. The company's array of brands is designed to assist businesses in automating, securing, digitizing, and controlling payments to suppliers and employees. FleetCor caters to businesses, merchants, and partners across North America, Latin America, Europe, and the Asia Pacific region, offering AP and vendor Payments and Vehicle and mobility Solutions.
Corpay represents FleetCor's Payables Brand, which integrates its suite of solutions encompassing accounts payable automation, cross-border transactions, and commercial card payments.
Corpay, formerly FleetCor Technologies Recent Developments
In February 2022, Corpay One announced the launch of Corpay Mastercard, a new credit card offering tailored for eligible customers. This credit card seamlessly integrates with the Corpay One bill pay platform, presenting small businesses with a unified, subscription-free solution for payment execution and expenditure management. With Corpay Mastercard, customers gain the flexibility to fund bill payments through existing credit cards, bank accounts, and the newly introduced Corpay Mastercard.
Furthermore, in 2022, FleetCor Technologies announced a minority investment in Motorq, a company specializing in car data and analytics, along with a subsequent investment in Mina, a cloud-based digital recharging software platform. This partnership in the United States with Motorq and the international collaboration with Mina set a new benchmark for the management of commercial fleets with electric vehicles (EVs) by streamlining the charging and payment procedures.
Corpay, formerly FleetCor Technologies Mergers and Acquisitions (M&A) Activities
In November 2023, FleetCor acquired PayByPhone, a global digital parking company. This strategic move enhances FleetCor's portfolio of vehicle payment solutions, catering to the needs of both fleet customers and consumers.
In August 2023, FleetCor sold its Russia business to a local investment group, effectively divesting all of its operations in Russia through the transaction.
In the wake of acquiring Global Reach Group, FleetCor Technologies further expanded its portfolio by acquiring Mina, a cloud-based electric vehicle (EV) charging software platform. This strategic move bestowed FleetCor with the leading home-charging software solution for commercial fleets in the UK, building upon a previously successful partnership between the two companies. The acquisition positioned FleetCor as the sole provider in the UK offering an EV recharging solution that efficiently captures, calculates, and facilitates payment for at-home business-use charging directly with the energy provider. Mina's innovative solution plays a crucial role in assisting commercial fleets in managing the transition to electric vehicles, streamlining, and automating the reimbursement process associated with at-home charging.
At the beginning of 2023, FleetCor Technologies completed the acquisition of Global Reach Group, a cross-border payments provider based in the UK. This strategic move enhances FleetCor's scale in cross-border payments, solidifying its position as a prominent non-bank B2B global cross-border payments provider. This acquisition further strengthens FleetCor's presence in cross-border payments within the UK, EU, and Canada, allowing it to process cross-border payments in over 145 currencies for approximately 27,000 customers worldwide.
The year 2022 marked a prosperous period for the company, characterized by the acquisition of multiple entities like Roomex, a European workforce lodging provider serving the UK and German markets, as well as Plugsurfing, a prominent European electric vehicle (EV) software and network provider, Accrualify, an accounts payable (AP) automation software company, Levarti, an airline software platform company, and many others.
In January 2021, FleetCor Technologies acquired Corpay One (formerly Roger), a cloud software platform for global accounts payable (AP) tailored for small businesses. This strategic move expands FleetCor's portfolio of accounts payable automation solutions to cater specifically to small businesses, aiding them in the automation of manual payment processes. Additionally, the acquisition equips FleetCor with a proven and modern automation platform for B2B online bill payment. In September 2020, FleetCor Technologies completed the acquisition of Associated Foreign Exchange (AFEX), a provider of cross-border payment solutions. This strategic move allows FleetCor to enhance its corporate payments line of business and solidify its standing as one of the largest business payments companies globally.
Corpay, formerly FleetCor Technologies Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Corpay, formerly FleetCor Technologies applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Corpay, formerly FleetCor Technologies and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Corpay AP Automation, Comdata customers.
Corpay, formerly FleetCor Technologies Overview
3280 Peachtree Road, Suite 2400
Atlanta, GA, 30305, United States
1 770-449-0479
https://www.corpay.com/
Ownership: - FLT (NYSE)
Number of Employees: 10500
Functional Markets: ERP Financial,
Key Verticals: Automotive, Banking and Financial Services, Communications, Construction, Real Estate, Consumer Packaged Goods, Distribution, Federal Government, State and Local Government, Public Safety, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Leisure and Recreation, Hospitality, Life Sciences, Manufacturing, Media, Faith-Based Nonprofit, Youth and Elderly Care, Special Cause Nonprofit, Oil and Gas, Chemicals, Professional Services, Retail, Transportation, Utilities,
Corpay, formerly FleetCor Technologies Key Enterprise and Cloud Applications
Corpay AP Automation, Comdata
Corpay, formerly FleetCor Technologies Revenues, $M:
| Type/Year | 2022 | 2023 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| Enterprise Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
| Cloud Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Corpay, formerly FleetCor Technologies Revenue Breakdown By Type, $M:
Corpay, formerly FleetCor Technologies Enterprise Applications Revenues By Functional Markets, $M:
Corpay, formerly FleetCor Technologies Enterprise Applications Revenues By Verticals, $M:
Corpay, formerly FleetCor Technologies Revenues By Region, $M
| Region | % of Total Revenues | 2023 Total Revenues, $M | 2023 Enterprise Applications Revenues, $M | 2023 Cloud Applications Revenues, $M |
|---|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe | Subscribe |
Corpay, formerly FleetCor Technologies Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Corpay, formerly FleetCor Technologies Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Corpay, formerly FleetCor Technologies Customers
No. of Corpay, formerly FleetCor Technologies Customers: x
No. of Corpay, formerly FleetCor Technologies Enterprise Applications Customers: x
No. of Corpay, formerly FleetCor Technologies Cloud Customers: x
No. of Corpay, formerly FleetCor Technologies Cloud Subscribers: x
FleetCor Technologies caters to a diverse clientele across multiple industries in North America, Latin America, Europe, and the Asia Pacific regions. Notable clients include ACG Texas Restaurants, Alegis Construction, Appalachian Regional Healthcare System, Park Place Dealerships, VCC Construction, Total Comfort Solutions, and numerous others.
In August 2023, FleetCor extended its contract to oversee the commercial fleet card program for British Petroleum (BP). FleetCor will maintain the operation of BP's commercial fleet card program, spanning over 6,500 locations in North America.
Corpay, formerly FleetCor Technologies Market Opportunities, M&A and Geo Expansions
The acquisition of several entities offered a significant opportunity for the company, thus expanding its operational scope and strengthening its portfolio of payment solutions and capabilities.
Furthermore, FleetCor showcased its dedication to the electric vehicle (EV) sector through strategic investments in Zap-Map, the preeminent EV search and pay mapping service in the United Kingdom.
Corpay, formerly FleetCor Technologies Risks and Challenges
In May 2023, FleetCor announced the appointment of Tom Panther as a new Chief Financial Officer. This change could lead to a new company strategy.
Corpay, formerly FleetCor Technologies Ecosystem, Partners, Resellers and SI
In May 2021, FleetCor Technologies disclosed the establishment of a joint venture in Brazil, facilitated by its local subsidiaries and CAIXA, the country's largest bank. Collaborating with VR BenefÃcios, a leading provider of meal and food vouchers in Brazil, FleetCor entered into this joint venture to fulfill the product requirements outlined in the agreement. This strategic alliance not only enhances FleetCor's recognition in Brazil but also extends benefits to millions of Brazilians.
Corpay, formerly FleetCor Technologies Cloud Infrastructure Insights
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- Corpay, formerly FleetCor Technologies Public Cloud and Infrastructure (IaaS)
- Corpay, formerly FleetCor Technologies Platform (PaaS)
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- Corpay, formerly FleetCor Technologies Private Cloud and Data Centers
Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
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