Corpay, a global
corporate payments company, announced on Tuesday the expansion of its
cross-border payments business with the opening of a new office in Auckland,
New Zealand. The move expands Corpay’s presence in the Asia-Pacific region.
Corpay Expands
Cross-Border Payments Business with New Zealand Office
The
Auckland office will provide Corpay’s clients access to its full suite of
cross-border payment products, including global payments and currency risk
management solutions for wholesale customers.
“Our
decision to establish a presence in New Zealand underscores our commitment to
prioritizing our current and future clients’ evolving needs,” said David
Britten, Managing Director, APAC, Corpay Cross-Border
Solutions. “While we may not be the first player in the New Zealand
market, our years of experience collaborating with our clients in Australia
enable us to provide tailored services that suit their needs.”
As part of
its strategy, Corpay is actively recruiting local talent and experienced
professionals to join its growing team in New Zealand. For the payments
provider, this is another expansion of operations following the announcement
in May of the
acquisition of Paymerang, a corporate payments company that enables the
processing of about $120 billion worth of transactions annually.
“We
see tremendous potential in New Zealand and are excited to bring our
industry-leading services to organizations in the region,” said Mark Frey,
Group President, Corpay Cross-Border Solutions. “We have always worked
closely with our clients to ensure they’re involved in the products and
solutions we build.”
Corpay’s Recent
Partnerships
Expansion
into New Zealand is the latest in a series of strategic moves by the company to
strengthen its position as a global leader in corporate payments. In March
2024, the company, formerly known as FLEETCOR Technologies, rebranded to Corpay
to better align with its focus on providing corporate payment solutions.
The company
has also been actively forging partnerships within the fintech ecosystem. In
January 2024, Corpay Cross-Border was named the official foreign exchange
partner for Cricket Ireland, aiming to enhance currency risk management and
cross-border payments for the organization and its corporate business partners.
In football
sports arenas, Corpay has also established itself as a notable player,
providing commercial foreign exchange solutions to football clubs such as AC
Milan and Aston Villa.
In the
meantime, the company has collaborated with Sila Inc. to offer customers access
to various currencies and cross-border payment capabilities across 100
countries and recently partnered with Netdania to leverage the NetStation
platform for its Cross-Border division’s sales and dealing teams.
This article was written by Damian Chmiel at www.financemagnates.com.
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