Announced on September 29, 2025, at the Sibos conference in Frankfurt, Corpay and Mastercard have expanded their decade-long collaboration to enable corporates, 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 milestone leverages Mastercard Move’s money movement capabilities, reaching over 200 countries and 150+ currencies, to deliver faster, more secure, and transparent cross-border payments in a market projected to exceed $250 trillion by 2027.
This expansion builds on a strategic partnership established in April 2025, where Mastercard invested $300 million for a 3% stake in Corpay’s cross-border business, valuing it at $10.7 billion. Corpay became the exclusive provider of large-ticket cross-border payment solutions and currency risk management for Mastercard’s financial institution clients, while Mastercard extended its virtual card programs and Move platform to Corpay’s small and mid-sized business clients.
Mastercard Move enables enhanced money transfer offerings, providing transparency, fee visibility, estimated delivery times, and flexible payout options to bank accounts, digital wallets, cards, and cash. The platform’s reach covers over 95% of the world’s banked population, supporting diverse payment needs in a rapidly growing market.
“At Mastercard, we’re committed to empowering people and businesses to thrive in an increasingly connected world,” said Pratik Khowala, Global Head of Transfer Solutions, Mastercard. “By expanding our strategic collaboration with Corpay, we’re enabling financial institutions to seamlessly access new markets, optimize their cross-border payment operations, and deliver a superior experience to their customers.”
“Through our expanded collaboration with Mastercard, we are advancing the future of cross-border payments—bringing businesses greater efficiency, affordability, and real-time capabilities,” said Mark Frey, Group President, Corpay Cross-Border Solutions.
As of September 29, 2025, Corpay (NYSE: CPAY) stock is priced at $296.70, with a market cap of $20.95 billion, slightly down from $296.23 the previous day and significantly lower than its year-high of $400.81 (see finance card above). Despite recent volatility, the partnership with Mastercard strengthens Corpay’s position in the $250 trillion cross-border payments market, projected to grow due to international trade and remittances.
This announcement aligns with industry trends toward real-time, transparent payment solutions, as seen in Thunes’ Pay-to-Banks via Swift, Visa’s VCS Hub, and Oracle’s Swift-validated Banking Payments, all emphasizing efficiency and compliance in global payments. The collaboration enhances Corpay’s ability to compete with platforms like RD Technologies’ OristaPay, which also focuses on secure cross-border payments.
Mastercard powers economies and empowers people in 200+ countries and territories worldwide. It supports a wide range of digital payment choices, making transactions secure, simple, smart, and accessible through innovative technology, partnerships, and networks. Learn more at www.mastercard.com.
Corpay (NYSE: CPAY), an S&P 500 company, provides commercial cards (business, fleet, virtual) and AP automation solutions, including cross-border payments, to businesses worldwide. Its solutions help control purchases, mitigate fraud, and reduce costs. Learn more at www.corpay.com.
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