Corpay, Inc. (NYSE: CPAY)

FleetCor Technologies, Inc., a global payments company with the ticker symbol CPAY, operates in the financial services industry. The company's primary business activities include providing modern payment solutions that enable customers to control and monitor their spending, automate data entry and reporting, and eliminate reimbursement processes. FleetCor operates in four reportable segments: Vehicle Payments, Corporate Payments, Lodging Payments, and Other.

FleetCor's Vehicle Payments solutions are designed to enable customers to pay for vehicle-related expenses, such as fuel, tolls, and parking. The company's fuel solutions are used by customers to pay and control spending for fuel for vehicles and fleets, and are available in Brazil, Mexico, and Europe. FleetCor's toll solutions operate primarily in Brazil, where it is the leading electronic toll payments provider to businesses and consumers. The company's parking app allows millions of consumers and fleets to pay for parking in seconds, replacing the use of coins or cash for parking.

Corporate Payments solutions help businesses streamline their back-office operations associated with making outgoing payments to vendors. FleetCor's AP automation solutions initiate, manage, and guarantee payment of all company-approved bills to all domestic and international vendors. The company's virtual card solution provides a single-use card number for a specific amount, usable within a defined timeframe, and is integrated with most leading ERP systems. FleetCor's cross-border solution is used by customers to pay international vendors, foreign office and personnel expenses, and for profit repatriation and dividends.

Lodging Payments solutions help businesses manage and control their lodging costs. The company's workforce solution provides a comprehensive solution for business travel programs of any size and business profile, with the ability to scale to the needs of the customer. The company's airline solution integrates its processing systems with airline logistics and crew management systems to deliver incremental enhanced services to the airline travel industry.

FleetCor's competitive advantages include its specialized technology platforms and proprietary payment acceptance networks, which create barriers to entry and provide better economics and richer data. The company's solutions are designed to provide control, reporting, and automation benefits superior to many of the payment methods businesses often use, such as cash, paper checks, general-purpose credit cards, and employee pay and reclaim processes.

FleetCor's customers include major oil companies, leasing companies, fuel marketers, airlines, insurance carriers, and other businesses and consumers. The company's solutions are available in many countries around the world, including the United States, Brazil, Mexico, Europe, and Asia.

FleetCor's primary products and services include fuel cards, toll cards, and lodging cards, which are used by customers to pay for vehicle-related expenses, such as fuel, tolls, and parking. The company's Corporate Payments solutions help businesses streamline their back-office operations associated with making outgoing payments to vendors.

FleetCor competes with financial institutions providing a full suite of financial products, including general-purpose cards, AP payments, and foreign exchange solutions. The company also competes with specialized competitive offerings from other companies that vary by product solution. FleetCor's key competitors in the vehicle payments segment include WEX, U.S. Bank Voyager Fleet Systems, Edenred, Sodexo, Alelo, Radius Payment Solutions, and DKV. In the corporate payments segment, FleetCor competes with companies such as American Express, Coupa, and AvidXchange.

FleetCor's technology provides continuous authorization of transactions, processing of critical account and customer information, and settlement between merchants, issuing companies, and individual commercial entities. The company's technology infrastructure is supported by highly-secure data centers, with redundant locations. FleetCor operates several proprietary processing systems that provide features and functionality to run its card programs and solutions, including its card issuing, processing, and information services.

In terms of human capital, FleetCor employs approximately 10,500 associates located in more than 21 countries around the world, with approximately 4,100 of those associates based in the United States. The company's values-driven people programs, practices, and policies have been designed to attract, retain, and develop top talent to drive business success. FleetCor's culture is built on a foundation of innovation, execution, integrity, people, and collaboration, and the company is committed to fostering a culturally diverse and inclusive environment and creating a true sense of belonging.