Corpay Joins the UK’s Faster Payment Service: A Game Changer for Corporate Payments

TORONTO, October 01, 2025 – In a significant move for the corporate payments landscape, Corpay, Inc. (NYSE: CPAY), a leader in global corporate payments, has officially joined the United Kingdom’s Faster Payment Service (FPS). This integration marks a pivotal step in enhancing Corpay’s global payments infrastructure, allowing clients to benefit from faster and more efficient transactions in GBP.

What is the Faster Payment Service (FPS)?

The Faster Payment Service is the UK’s real-time local payment scheme, designed to facilitate rapid, secure, and cost-effective transfers in GBP. Operated by Pay.UK, FPS has been a cornerstone of the UK’s retail payments since its inception in 2008. It enables individuals, businesses, and charities to make real-time payments of up to £1 million, primarily through online, mobile, or telephone banking channels.

Benefits of FPS Integration for Corpay Clients

With the integration of FPS, Corpay clients can expect a host of advantages that significantly enhance their payment processes:

Speed and Reliability

One of the most compelling features of FPS is its near-instant payment capability. Clients can now enjoy swift transactions for both receivables and outbound transfers, ensuring that cash flow remains uninterrupted.

Improved Customer Experience

The integration provides a more localized and seamless experience for users. Clients will receive unique account identifiers linked to Corpay’s sort code, allowing them to send and receive GBP payments through local rails. This not only simplifies transactions but also enhances user satisfaction.

Synergy with Multi-Currency Account (MCA)

Corpay’s FPS integration complements its Multi-Currency Account (MCA) offering, enhancing GBP capabilities. This synergy allows businesses to manage multiple currencies more flexibly and efficiently, streamlining their financial operations.

Regulatory Compliance and Infrastructure

Accessing the FPS requires meeting stringent regulatory and infrastructure standards. Since the launch of a new access program in 2014, the number of direct participants in the Faster Payment System has more than tripled, showcasing the growing importance of this payment method. Corpay’s integration into FPS underscores its strong reputation and trusted relationships with leading financial and banking partners.

Insights from Leadership

Tim Watson, Chief Product & Digital Innovation Officer at Corpay Cross-Border Solutions, emphasized the significance of this milestone: “Today’s clients expect immediacy, not just in how they shop or communicate, but in how they move money. By joining the Faster Payments network, we are meeting that demand with a modernized GBP payment experience that is fast, seamless, and aligned with the real-time expectations of global businesses.”

The Role of Pay.UK

David Morris, Chief Operating Officer at Pay.UK, highlighted the importance of FPS in supporting the demands of consumers and businesses alike. “The Faster Payment System is available day and night, 365 days per year, facilitating real-time payments for millions of individuals and organizations across the UK,” he stated. This infrastructure is crucial for maintaining the flow of money within the economy, and organizations like Corpay play a vital role in connecting users to this system.

About Corpay

Corpay, Inc. is a global leader in corporate payments, offering a suite of modern payment solutions designed to help businesses manage expenses efficiently. From vehicle-related costs to travel expenses and vendor payments, Corpay’s offerings aim to save time and reduce overall spending for its clients.

About Pay.UK

Pay.UK operates the UK’s retail payments systems, including FPS, Bacs, and the Image Clearing System. Their mission is to power payments, champion innovation, and provide individuals and organizations with choices in how they transfer money. With a commitment to safety and efficiency, Pay.UK plays a crucial role in the UK economy, facilitating billions of pounds in transactions daily.

For more information about Corpay and its services, visit www.corpay.com. To learn more about Pay.UK, check out www.wearepay.uk.