Corpay Cross-Border becomes NHL’s official foreign exchange provider

TORONTO/NEW YORK - Corpay, Inc. (NYSE:CPAY) and the National Hockey League (NHL) have entered into a multiyear North American partnership designating Corpay’s Cross-Border business as the Official Foreign Exchange Provider of the NHL, according to a press release statement. The announcement comes as Corpay, with a market capitalization of $18.6 billion, prepares to release its quarterly earnings on November 5.

The partnership will allow the NHL to utilize Corpay Cross-Border’s solutions to help manage foreign exchange exposure in its daily operations. The NHL will gain access to Corpay’s platform for global payment management through a single access point. This strategic move aligns with Corpay’s solid revenue growth of 9.22% over the last twelve months, with total revenue reaching $4.17 billion.

As part of the agreement, Corpay will receive brand visibility on the NHL’s digitally enhanced dasherboards and in-stadium signage at major NHL events including the Winter Classic, Stadium Series, and Heritage Classic. The companies will also create content across their respective media platforms.

"With our proven expertise in cross-border payments and currency risk management, we’re confident the NHL, its 32 teams, and network of business partners will benefit from our innovative solutions," said Brad Loder, Chief Marketing Officer of Corpay Cross-Border Solutions.

Chris Falkiner, NHL Vice President of Business Development Solutions, noted that the league is "pleased to welcome Corpay, a global leader in corporate payments as our Official Foreign Exchange Provider."

Corpay, Inc., listed on the NYSE and part of the S&P 500, provides payment solutions for businesses and consumers to manage expenses related to vehicles, travel, and vendor payments.

The NHL, founded in 1917, consists of 32 Member Clubs with players representing more than 20 countries. The league broadcasts games in over 260 countries and territories through various media partners. Investors interested in deeper analysis of Corpay’s financials and growth prospects can access comprehensive Pro Research Reports covering what really matters about this and 1,400+ other top stocks through InvestingPro.

In other recent news, Corpay, Inc. reaffirmed its financial guidance for the third quarter and full year 2025, as initially disclosed in a prior SEC filing. The company stated that this reaffirmation was presented to institutional credit investors. Corpay has also completed a significant acquisition, investing approximately $550 million for a 34% equity stake in AvidXchange, a company with annual revenue of $450 million, along with an option for full ownership. Jefferies has adjusted its price target for Corpay to $300 from $340, maintaining a Buy rating, citing the impact of the Alpha acquisition, which is expected to slightly affect organic growth in the fourth quarter of 2025. Additionally, Corpay has formed a partnership with NCR Voyix Corporation to enable fleet card payments at over 18,000 fuel stations across the United States. In the UK, Corpay has joined the Faster Payment Service, enhancing its capability to offer near-instant GBP transactions for clients. These developments reflect Corpay’s ongoing strategic initiatives and partnerships in the financial services sector.

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