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StocksMedium•6 April 2026•

1 min read

Corpay Completes Sale of PayByPhone to Focus on Corporate Payments

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Key Facts

1Corpay completed the sale of its PayByPhone mobile parking payments business to Lightyear Capital.

2The transaction is expected to reduce Corpay's 2026 revenues by approximately $75 million.

Corpay, Inc. has finalized the divestiture of its mobile parking payments business, PayByPhone, to private equity firm Lightyear Capital. This strategic move is designed to simplify the company's portfolio and accelerate its rotation toward core corporate payment services. As a result of the transaction, Corpay expects its 2026 revenues to be reduced by approximately $75 million. CEO Ron Clarke emphasized that the sale allows the company to concentrate resources on higher-growth sectors within the fintech landscape. While the divestiture impacts top-line revenue in the short term, it is viewed as a positive step toward operational streamlining and long-term efficiency. The completion of this deal marks a significant milestone in Corpay's ongoing business transformation strategy.