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Corpay Inc., a provider of corporate payment and expense-management technology, has extended its partnership with Mastercard Inc. to enable corporations, small businesses, and financial institutions to make near real-time payments to 22 new markets across Asia, Europe, the Middle East, Africa, and Latin America.
The deal builds on the two companies’ more than decade-old relationship to facilitate cross-border payments using Mastercard Move, the card network’s portfolio of services that enable fast global money movement for businesses and consumers. Since April, Corpay has been the exclusive provider of large-ticket cross-border payment solutions and currency-risk management services for financial institutions within the Mastercard network.
Expanding the number of countries Corpay can reach will enable it to help businesses and financial institutions meet a growing demand for faster cross-border payments, the company says. Global cross-border payments are projected to exceed $250 trillion by 2027, according to the Bank of England.
“By expanding our strategic collaboration with Corpay, we’re enabling financial institutions to seamlessly access new markets, optimize their cross-border payment operations, and deliver a superior experience to their customers,” Pratik Khowala, global head of transfer solutions for Mastercard, says in a statement. “At the same time, we’re helping companies of all sizes scale internationally, unlocking new growth opportunities with unmatched speed, reach, and reliability.”
In related news, PayOS Inc. has partnered with MasterCard to enable agentic commerce. The San Francisco-based fintech is leveraging Mastercard’s Agent Pay technology to validate an AI agent shopping on behalf of a consumer using Mastercard Agentic Tokens prior to payment being initiated by the AI agent.
With the integration of Agent Pay, PayOS can begin onboarding clients to its platform and enabling agentic commerce for merchants and consumers, the parties say.
“With this milestone, we are now ready to onboard customers on our platform. We also bring proven tools and the expertise required for payments risk, payments fraud prevention, and creating better user experiences,” PayOS chief executive and co-founder Johnathan McGowan, says in a statement.
