Corpay, Inc., the global corporate payments leader, has completed Mastercard’s previously announced $300 million minority investment into its Cross-Border business. The investment values the unit at approximately $13.0 billion enterprise value (inclusive of the recently closed Alpha Group PLC acquisition) and gives Mastercard roughly a 2.3% equity stake.
The transaction deepens the long-standing relationship between the two companies and combines Corpay’s industry-leading cross-border platform—serving banks, institutional investors, and businesses in over 160 currencies—with Mastercard’s global network and financial institution reach.
The new commercial agreement will introduce Corpay’s cross-border payment and FX risk management solutions to Mastercard’s extensive base of financial institution clients, while expanding Corpay’s use of Mastercard Move for faster, real-time money movement across more geographies.
“We’re thrilled to close this minority investment, establish a new cross-border partnership targeting FIs, and extend our longstanding card issuing relationship with Mastercard,” said Ron Clarke, Chairman and CEO of Corpay. “Along with our acquisitions of Paymerang, GPS and Alpha over the past 18 months, plus our minority investment in AvidXchange, our Corporate Payments 2026 revenue is expected to surpass $2 billion, and represent over 40% of the company’s total revenues next year.”
The investment and partnership position Corpay to further accelerate growth in its high-margin Corporate Payments segment while enhancing global payment speed, transparency, and accessibility for shared customers.
About Corpay
Corpay (NYSE: CPAY), the Corporate Payments Company, is a global S&P 500 provider of commercial cards (e.g, business cards, fleet cards, virtual cards) and AP automation solutions (e.g., invoice and payments automation, cross border payments) to businesses worldwide. Our solutions “keep business moving” and result in our customers better controlling non-payroll expenses, mitigating fraud, and ultimately spending less.
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