Corpay (CPAY) Corporate presentation summary

Market opportunity and structure

• Global B2B cross-border services market generates over $900B in annual revenue, with a $161B middle market segment that is underserved by banks and fintechs.

• Tier 2-4 banks serve domestic needs well but lack global capabilities, creating opportunities for independent FX providers.

• The largest banks focus on large enterprises, leaving middle market companies with unmet global payment needs.

Business model and services

• Provides international payments, risk management, and global bank accounts on a single technology platform.

• Over 25,000 clients served, primarily in the middle market, across corporates, private capital, banks/fintechs, and digital currency providers.

• Revenue is primarily derived from the full cross-border workflow, not just payment rails.

Competitive advantages

• Global breadth, robust sales force, and advanced tech infrastructure are difficult for banks and fintechs to replicate.

• Licensed in 35 countries, with operations in 24 and access to 145 currencies via 65 local rails.

• Selling system leverages a large commercial team, global sponsorships, and 950+ partnerships, driving high productivity and low customer acquisition costs.