Acquisition Strategy of Corpay: Insights from Group President Mark Frey Regarding Q2 2025
In the second quarter of 2025, Corpay, a leading cross-border payments solution provider, reported a significant 13% year-over-year increase in revenue, reaching $1.1 billion. This growth was primarily driven by the expansion of its Corporate Payments segment and strategic acquisitions [1][2].
One of the key drivers behind this growth was the expansion of Corpay's multicurrency account product. The number of accounts live increased from 2,000 in Q1 to a impressive 10,000 accounts in Q2 2025. The product's customer deposits also reached a milestone of $1 billion in July [1].
Another significant factor contributing to Corpay's growth is its strategic focus on stablecoins. The company is actively developing its stablecoin and digital asset services, aiming to integrate stablecoins as a "third rail" for seamless, 24/7 money movement. This innovation is part of an extended cross-border payments suite that broadens the company’s market reach into stablecoin and digital asset providers [1].
The growth was also supported by acquisition-led strategies, including the $2.2 billion acquisition of B2B FX provider Alpha Group. This acquisition is expected to strengthen Corpay's payments business further and bolster payments as a key growth driver [1][2].
Despite some softness in the North American market due to US tariffs during the quarter, Corpay managed to offset this negative effect by robust revenue gains in other geographic regions. This diversification helped to mitigate the overall impact on the company’s financial performance [1].
In an interview, Mark Frey, the President of Corpay Cross-Border Solutions Group, discussed the company's upcoming acquisitions and key drivers for Q2 2025. The interview aimed to provide more insights into Corpay's current business status and future plans [3].
In summary, Corpay’s Q2 2025 revenue growth was driven by corporate payments expansion, rapid growth of its multicurrency account product, early adoption of stablecoin services, and strategic acquisitions. US tariffs created regional headwinds that were balanced by gains elsewhere [1][2].
[1] Corpay Press Release, Q2 2025 Results [2] The Paypers, Corpay to Acquire Alpha Group for $2.2bn [3] Payments Dive, Interview with Mark Frey, President of Corpay Cross-Border Solutions Group
Corpay's growth in Q2 2025 was influenced by its expansion into technology-driven areas, such as investing in stablecoin services and the development of its digital asset services. This strategic focus on technology aims to integrate stablecoins as a "third rail" for cross-border payments, expanding the company’s market reach.
Additionally, Corpay's business growth was bolstered by acquisition-led strategies, including the significant acquisition of B2B FX provider Alpha Group, which is expected to strengthen Corpay's payments business and make payments a key growth driver.
