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Corpay
Streamline your accounts payable with Corpay's AP automation solutions.
Corpay
Streamline your accounts payable with Corpay's AP automation solutions. Reduce manual work, cut costs, and gain full control over your financial workflow.
General information
Firm type
Asset Manager
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Richmond
Corporate office
Richmond, United States
Sector focus
Frequently asked questions
How does Corpay monetize accounts-payable automation?
Corpay does not charge annual software license fees for the AP automation product formerly known as Paymerang. Revenue comes from payment interchange — specifically, the spread earned when supplier payments are routed through the company’s virtual-card network. The firm shares a portion back to clients as rebates, reporting that it pays out more than $800 million in rebates annually (per the firm, 2024).
Is Corpay’s AP-automation product a software license or a managed service?
It is a fully managed service. Corpay takes on vendor data maintenance, payment execution, tax-form collection, and error resolution, rather than delivering a tool that a client’s accounts-payable team operates independently. Marketing materials describe it as the only fully managed AP automation solution on the market (per the firm, 2024).
What is Corpay’s relationship to the former Paymerang brand?
Corpay acquired Paymerang and absorbed its AP-automation operations into the larger corporate-payments division. By May 2024, the legacy Paymerang website had been retired and all product capabilities were integrated under the Corpay brand, with the AP-automation offering now packaged alongside vehicle-payments and lodging-payments products (per the firm, 2024).
Who are the underlying banking partners for Corpay’s virtual-card program?
The Corpay Mastercard is issued by Regions Bank and Fifth Third Bank, N.A., pursuant to licenses from Mastercard International Incorporated (per the firm, 2024). These bank relationships underpin the virtual-card issuance and interchange economics.
What size is the vendor network that Corpay’s AP product accesses?
The firm reports a vendor network of 3.8 million suppliers that clients can tap into for electronic payment enrollment. Vendors self-onboard, update their own banking details, and choose their preferred payment method through a portal, which reduces support-ticket volume for client AP teams (per the firm, 2024).
Does Corpay serve as a single-family office or a multi-family office?
No. Corpay is an S&P 500 corporate-payments company whose common stock trades on the NYSE under ticker CPAY. It does not manage family-office capital or provide wealth-management services. Any prior research that tagged Paymerang under a family-office or private-capital category does not reflect the company’s current public-market structure.
What do Corpay’s public financials show for scale?
Corpay reported $4.0 billion in revenue and $1.4 billion in adjusted net income for full-year 2024. It counts over 800,000 business clients, and the corporate-payments segment that includes the former Paymerang AP-automation capability is one of three primary business segments (per the firm, 2024).
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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