Corpay, Mastercard expand payment services to new markets

Core Insights - Corpay and Mastercard have expanded their partnership to enable near real-time payments to 22 additional markets across Asia, Europe, the Middle East, Africa, and Latin America [1] - The partnership leverages Mastercard Move's network for faster cross-border payments, enhancing efficiency and affordability for businesses [2][4] Partnership Details - The strategic partnership was established in April 2025, with Corpay becoming the exclusive provider of large-ticket cross-border payment solutions and currency risk management for Mastercard's financial institution clients [2] - Mastercard invested $300 million for a nearly 3% equity stake in Corpay's cross-border business, valuing the unit at $10.7 billion [3] Service Enhancements - Corpay will offer Mastercard virtual card programs to its clients, extending access to Mastercard Move's services for small and mid-sized business clients [3] - The partnership aims to provide enhanced money transfer capabilities, including trackable payments, visibility of fees, and estimated delivery times [4] Market Impact - The collaboration is designed to empower financial institutions to access new markets and optimize cross-border payment operations, meeting the growing demand for swift transactions [5][6] - The expanded services are expected to unlock new growth opportunities for companies of all sizes, enhancing their ability to scale internationally [6]