(29 April 2025 – Global) Mastercard and Corpay have announced a partnership where Mastercard takes a minority stake and invests in Corpay’s cross border payments business while enhancing the capabilities of the Mastercard Move platform.
Mastercard invested US$300 million for a three percent stake in Corpay’s cross-border payments business, representing an enterprise valuation for the unit of US$10.7 billion. This is the first time a material outside investment has put a value on the cross-border payments division.
Pairing one of the industry’s biggest non-bank corporate payments providers with one of its largest payments platform providers, the collaboration has the potential to significantly bolster both companies at a time when trade uncertainties are bolstering demand for more complex corporate payment solutions.
“This partnership is designed to give financial institutions and their corporate customers easy access to end-to-end cross-border payments options, including card and account-to-account solutions for all ticket sizes” commented Mastercard Global Head of Transfer Solutions, Pratik Khowala.
“Cross-border is a huge, growing opportunity, and there are still a lot of pain points to be solved by industry leaders.”