Corpay, Inc. operates in three key markets: Employee Payments, B2B Payments, and Cross-Border Payments, providing businesses with an integrated platform for managing employee spending and supplier payments. The company primarily targets construction and field service organizations, offering solutions that include payment cards, expense management software, and fraud prevention tools. With an estimated global spend of $30 trillion in Employee Payments, only 13% has been digitized, indicating a significant opportunity for growth. In the B2B Payments sector, Corpay addresses a $115 trillion annual spend, where 90% of transactions still utilize checks or basic ACH. Despite its revenue increase from $3.43 billion in 2022 to $4.53 billion in 2025, Corpay faces intense competition from well-funded fintech firms and regulatory risks, including an ongoing lawsuit from the FTC. The company’s market share remains below 1%, but its extensive licensing in over 35 countries and deep ERP integrations position it well for future growth. Looking ahead, Corpay aims for adjusted EPS of approximately $26.70 in 2026, while managing the challenges posed by regulatory compliance across multiple jurisdictions.