Corpay Completes Sale of Vehicle Payments Asset

Corpay, Inc. , the corporate payments company, announced it has completed the sale of PayByPhone, its mobile parking payments business, to Lightyear Capital.

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“We’ve completed the sale of our PayByPhone business,” said Ron Clarke, Chairman and CEO of Corpay. “The transaction simplifies our portfolio and furthers our rotation to corporate payments.”

The transaction is expected to reduce Corpay’s rest-of-year 2026 revenues by approximately $75 million relative to the company’s February guidance. The divestiture is expected to be neutral to Corpay’s 2026 Cash EPS outlook, as Corpay intends to use the cash proceeds for share repurchases. The company continues to expect organic revenue growth of 10% in 2026, inclusive of the impact of this transaction.

Corpay , the Corporate Payments Company, is a global S&P 500 provider of commercial cards (e.g, spend management, fleet cards, virtual cards) AP modernization solutions (e.g., invoice and payments automation), and cross-border services (mass payments, risk management solutions and global bank accounts) to businesses worldwide. Corpay solutions “keep business moving” and result in our customers better controlling business expenses, mitigating fraud, and ultimately spending less.

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