-

Corpay Announces Agreement to Sell Non-Core Vehicle Payments Asset

Transaction Signals Continued Rotation to Corporate Payments

ATLANTA--(BUSINESS WIRE)--Corpay, Inc. (NYSE: CPAY), the corporate payments company, announced that it has signed a definitive agreement to sell PayByPhone, a mobile parking payments business, to Lightyear Capital.

“We’ve agreed to terms to divest our PayByPhone business, and hope that PBP will prosper under Lightyear’s ownership,” said Ron Clarke, Chairman and CEO of Corpay. “The transaction is another step to simplify our portfolio, and speed our rotation to more corporate payments.”

The transaction is not expected to have a material impact on Corpay’s 2026 Cash EPS outlook. Additional information on the financial impact of the sale will be provided during the company’s fourth quarter earnings call later today.

The transaction is expected to close in the second quarter of 2026.

Deutsche Bank acted as financial advisor to Corpay, and Jones Day acted as legal counsel to Corpay.

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 modernization solutions (e.g., invoice and payments automation, cross border payments) to businesses worldwide. Corpay solutions “keep business moving” and result in our customers better controlling purchases, mitigating fraud, and ultimately spending less. To learn more visit www.corpay.com.

Contacts

Corpay Investor Relations
Jim Eglseder
Jim.Eglseder@corpay.com
770-417-4697

Industry:

Corpay, Inc.

NYSE:CPAY
Release Versions
English

Contacts

Corpay Investor Relations
Jim Eglseder
Jim.Eglseder@corpay.com
770-417-4697

More News From Corpay, Inc.

Corpay to Participate in Upcoming Investor Conferences

ATLANTA--(BUSINESS WIRE)--Corpay, Inc., (NYSE: CPAY), the corporate payments company, today announced that the Company will participate in the following investor conferences: On Wednesday, June 3, 2026, the Company will be attending the Baird Global Consumer, Technology & Services Conference in New York, NY. On Tuesday, June 9, 2026, the Company will be attending the Morgan Stanley US Financials Conference in New York, NY. Management will participate in a fireside chat beginning at 1:45am E...

Corpay Completes Refinancing and Increases Revolving Credit Facility To $3.7 Billion

ATLANTA--(BUSINESS WIRE)--Corpay, Inc. (NYSE: CPAY), the corporate payments and expense management company today announced that it closed an amendment to increase its revolving credit facility by $925 million to $3.7 billion and increase its Term Loan A by $420M to $3.3 billion, both for new 5-year terms. The USD interest rates are 10 basis points lower than the existing facilities. The Company plans to use $1 billion of the proceeds to pay down a portion of its Term Loan B and refinance a port...

Corpay to Participate in J.P. Morgan Global Technology, Media and Communications Conference

ATLANTA--(BUSINESS WIRE)--Corpay, Inc., (NYSE: CPAY), the corporate payments company, today announced that on Monday, May 18, 2026, the Company will be attending the J.P. Morgan Global Technology, Media and Communications Conference in Boston, MA. Management will participate in a fireside chat beginning at 9:05am ET. Investors and interested parties can access the presentation by visiting the Company’s investor relations website at https://investor.corpay.com/. About Corpay Corpay (NYSE: CPAY),...
Back to Newsroom