FLEETCOR Acquires PayByPhone, a Global Digital Parking Company for Terms Undisclosed
Portfolio Pulse from Benzinga Newsdesk
FLEETCOR Technologies, Inc. (NYSE:FLT) has acquired PayByPhone, a global provider of digital parking payment solutions. The acquisition will expand FLEETCOR's vehicle payment solutions for its fleet customers and consumers. PayByPhone, which has over 6 million monthly active users, was acquired from Volkswagen Financial Services.
November 07, 2023 | 7:23 am
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FLEETCOR's acquisition of PayByPhone is expected to expand its vehicle payment solutions, potentially increasing its customer base and revenues.
The acquisition of PayByPhone allows FLEETCOR to expand its vehicle payment solutions, which could attract more customers and increase revenues. Given that PayByPhone has over 6 million monthly active users, this acquisition could significantly boost FLEETCOR's customer base.
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