Delivering exclusive commercial FX solutions to the world’s premier all-electric racing series
TORONTO--BUSINESS WIRE--
Corpay, Inc.*, (NYSE: CPAY) a global leader in corporate payments, today announced that its Cross-Border business has partnered with Formula E, the world’s first all-electric FIA World Championship and B Corp Certified sport. Under the agreement, Corpay becomes the exclusive and Official Foreign Exchange Provider of the ABB FIA Formula E World Championship.
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The ABB FIA Formula E World Championship brings dramatic racing to the heart of some of the world’s most iconic cities providing an elite motorsport platform for the world’s leading automotive manufacturers to accelerate electric vehicle innovation with the GEN3 Evo race continuing to set a new benchmark as the fastest-accelerating FIA single-seater, rocketing from 0-60 mph in an astonishing 1.82 seconds.
Through this partnership, Corpay Cross-Border will provide comprehensive FX risk management and international payment solutions to support Formula E’s global operations. With races spanning major cities across multiple continents, Formula E operates in a highly dynamic, multi-currency environment — creating a strong strategic fit for Corpay’s expertise in managing foreign exchange exposure and cross-border transactions.
“As a truly global motorsport platform, Formula E operates across numerous currencies and jurisdictions throughout its racing calendar,” said Brad Loder, Chief Marketing Officer, Corpay Cross-Border Solutions. “We are proud to partner with an innovative, forward-thinking championship and to support its international growth with tailored FX and cross-border payment solutions that help mitigate currency risk and drive operational efficiency.”
"Formula E is at the forefront of technology and sustainability, and it is vital that our partners reflect that same forward-thinking approach,” said Max Adkins, Chief Financial Officer, Formula E. “Partnering with Corpay allows us to streamline our global financial operations across a highly dynamic, multi-currency environment. We look forward to working together as we continue to bring the excitement of all-electric racing to fans around the world."
About Corpay
Corpay, Inc. (NYSE: CPAY) is a global S&P500 corporate payments company that helps businesses and consumers pay expenses in a simple, controlled manner. Corpay’s suite of modern payment solutions help its customers better manage vehicle-related expenses (such as fueling and parking), travel expenses (e.g. hotel bookings) and payables (e.g. paying vendors). This results in our customers saving time and ultimately spending less. Corpay Cross-Border refers to a group of legal entities owned and operated by Corpay, Inc.
Corpay – Payments made easy. To learn more visit www.corpay.com.
About Formula E
The ABB FIA Formula E World Championship is known as the next evolution of motorsport. As the world’s first all-electric series, Formula E operates as a high-speed ‘living laboratory’ where innovation and adrenaline collide.
The championship has achieved the milestone of 150 races, and serves as a vital test bed for the world’s leading automotive manufacturers - including Porsche, Jaguar, Nissan, Stellantis, Mahindra and Lola Cars - to innovate and refine the electric vehicle (EV) technologies that will define future urban mobility.
Underpinning this performance is a profound commitment to impact. Formula E is a Certified B Corp - the world’s first and only sport to achieve this designation - reflecting its dedication to high standards of social and environmental transparency. It also stands as the only sport in the world to be Net Zero Carbon since inception and recently became the first to achieve the BSI Net Zero Pathway certification, setting a new global benchmark for science-based climate action.
As a progressive challenger in the sports landscape, Formula E is defined by unpredictable, wheel-to-wheel competition. In 11 seasons, the series has crowned 10 different champions, proving it to be one of the most competitive and open titles in world championship level sport. With a commitment to accessibility and a grid of world-class drivers and manufacturers, the series continues to rewrite the rules of elite sport, engaging a new generation who value purposeful ambition and fearless action.
For Formula E media enquiries, please contact [email protected].
About ABB:
ABB is a global technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. By connecting its engineering and digitalization expertise, ABB helps industries run at high performance, while becoming more efficient, productive and sustainable so they outperform. At ABB, we call this ‘Engineered to Outrun’. The company has over 140 years of history and more than 110,000 employees worldwide. ABB’s shares are listed on the SIX Swiss Exchange (ABBN) and Nasdaq Stockholm (ABB). www.abb.com
*“Corpay” in this document primarily refers to the Cross-Border Division of Corpay, Inc. https://www.corpay.com/cross-border; a full listing of the companies that are part of Corpay Cross-Border is available here: https://www.corpay.com/compliance.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260310640540/en/
Contact details:
Corpay Contact:
Brad Loder
Chief Marketing Officer
Corpay Cross-Border Solutions
+1 (647) 627-6635
[email protected]
