Corpay

Corpay’s Q2 fuel transaction revenue up 1% to $510M

Corpay’s commercial fuel card payments business posted second-quarter revenue of $510 million, a 1% year-over-year increase compared to 2023.

The fuel card payments segment was mixed, according to CEO Ron Clarke.

“Organic revenue growth for the quarter was up 6%, but clearly a tale of two cities. Our corporate payments business, Brazil business and international fleet business performed exceptionally well, while our lodging and North America fleet businesses were not as good. It presented a drag...

https://www.freightwaves.com/news/corpays-q2-fuel-transaction-revenue-up-1-to-510m

Corpay records Q1 fuel payments revenue of $494M

Corpay, previously Fleetcor Technologies, has reduced its full-year earnings forecast for 2024, citing high interest rates and unfavorable foreign exchange rates, according to CEO Ron Clarke.

“Both of these macro factors unfortunately will depress our current rest of year,” Clarke said during a call with analysts Wednesday after the market closed. “Additionally, we’re expecting our lodging clients’ softness to hang around longer, thereby reducing our full-year lodging revenue forecast.”

Corpay...

https://www.freightwaves.com/news/corpay-records-q1-fuel-payments-revenue-of-494m

Viewpoint: More efficient payments today, more efficient supply chains tomorrow

This commentary was written by Sven Hinrichsen, senior vice president of strategy for Corpay Payables. The views expressed here are solely those of the author and do not necessarily represent the views of Modern Shipper or its affiliates.

The pandemic accelerated the digitization of B2B payments. Companies are seeing new cost and process efficiencies from their digitization efforts, especially with travel & expense (T&E) cards and vendor payments. But what’s most exciting are the new...

https://www.freightwaves.com/news/viewpoint-more-efficient-payments-today-more-efficient-supply-chains-tomorrow