US-based business payments provider Corpay has announced that it finalised the acquisition of GPS Capital Markets . The current announcement comes just a few months after Corpay entered into a definitive agreement to buy GPS Capital Markets.

Also, the deal was set to deliver several benefits to GPS Capital Markets clients, including optimised delivery channels and scaled access to FX services across global markets. At that time, the transaction was projected to close in early 2025 subject to obtaining necessary regulatory approvals and other customary closing conditions. Now, Corpay completed the acquisition of GPS Capital Markets, which is a business-to-business cross-border solutions provider to upper-middle market companies, mostly delivering its services in the US.

When commenting on the announcement, representatives from Corpay highlighted that with the addition of Paymerang and GPS, the company expects its corporate payments business to surpass USD 1.5 billion in revenue in 2025. The integration planning is currently underway, with Corpay projecting a substantial profit contribution from both acquisitions. Overall, the two corporate payment deals closed in 2024 by Corpay are set to contribute to over USD 200 million in revenue and nearly USD 0.50 of cash EPS accretion in 2025.

Furthermore, Corpay completed the divestiture of Comdata Merchant POS Solutions, a point-of-sale hardware and software for truck stop merchants, to a private equity-backed company PDI Technologies. The transaction comes as a result of a 2023 strategic review that aimed to optimise the company’s operations and focus on its core business. Corpay’s collaboration with World Aquatics The acquisition of GPS Capital Markets follows Corpay’s cross-border division finalising a multi-year extension of its partnership with World Aquatics.

Corpay was set to serve as the Official Foreign Exchange (FX) Payments Supplier for the organisation, a position the company had since 2022. The deal allowed World Aquatics, together with event hosts and partners, to maintain access to the company’s suite of global payment and currency risk management solutions. These services were developed to support international financial transactions while overseeing the difficulties of FX risks.

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