---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-020472"
form_type: "8-K"
ticker: "CPAY"
cik: "0001175454"
company_name: "CORPAY, INC."
filed_at: "2025-04-29T23:59:59+00:00"
generated_at: "2026-05-23T03:29:13.517746+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Mastercard invests $300M for ~3% stake in Corpay's cross-border business; exclusive partnership

## Summary
- Mastercard invests $300M for ~3% equity stake in Corpay's cross-border unit, valuing it at $10.7B (20x forward EBITDA).
- Corpay becomes exclusive provider of cross-border payments and currency risk management to Mastercard's financial institution customers.
- Corpay will exclusively offer Mastercard virtual card programs; Mastercard Move services expanded to Corpay's SME customers.

## SEC filing metadata
- accession: 0001628280-25-020472
- form_type: 8-K
- ticker: CPAY
- cik: 0001175454
- company_name: CORPAY, INC.
- filed_at: 2025-04-29T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1175454/000162828025020472/0001628280-25-020472-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1175454/000162828025020472/flt-20250429.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-020472
- JSON: https://secwatch.observer/filing/0001628280-25-020472.json
- Plain text: https://secwatch.observer/filing/0001628280-25-020472.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.