FIA announces new partnership with financial services company

The FIA have entered a multi-year agreement with Corpay’s Cross-Border business.

With 2022 having almost drawn to a close for the FIA, the traditional process of announcing either new or renewed partnerships has begun.

It is extremely common for both the FIA and teams from any FIA championship to announce new sponsors or partners for the upcoming season during the winter break, with the governing body being no different.

With that in mind, the FIA have announced that they’ve entered a multi-year agreement with Corpay’s Cross-Border business, who will become the FIA’s new “official FX payment supplier”.

The FIA released an official press release announcing the news on Monday, where they expressed their delight at the beginning of a new partnership.

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Corpay are a world leader in payments, specifically business payments.

The company helps businesses of all sizes manage and pay their bills, something the FIA presumably have many of.

Through the partnership, the FIA will have access to all of Corpay’s various solutions, of which they will utilise to reduce their exposure to foreign exchange.

Alexandre Gueschir, FIA marketing and events director, is extremely pleased to be welcoming Corpay onboard and is looking forward to “introducing” the company to all their business partners.

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“We are delighted to welcome Corpay, a global leader in business payments, as FIA’s Official FX Payment Supplier,” said Gueschir.

“We look forward to introducing Corpay through our corporate events and business partner network and continuing to grow this partnership in the longer term.”

Vice-president of marketing at Corpay cross-border solutions, Brad Loder, is equally “excited” to be able to work with a company the size of the FIA and is crucially “confident” that the governing body will make the most of their services on offer.

“Corpay is excited about our new partnership with the FIA and being named their Official FX Payment Supplier,” said Loder.

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“I am confident that the FIA will benefit from access to our comprehensive cross-border payments and FX risk management solutions, along with our payments experience gained within the world of sports.”

Remarkably, the FIA nowadays consists of 245 international motoring and sporting organisations from 146 countries on five continents.

Motorsport’s governing body continues to grow and recognise more competitions as World Championships, most notably Formula E which gained World Championship status two years ago.