Corpay launches dedicated M&A Paying Agent and Escrow service as law firms exit the market
Toronto, ON (June 11, 2026) – Corpay, Inc.*, (NYSE: CPAY) a global leader in corporate payments, today announced that its Cross-Border business formally launched its Paying Agent and Escrow service, a platform designed to manage the complex, multi-party funds flows that sit at the heart of M&A and other milestone transactions. The announcement brings into the open a service that has been building quietly for 18 months, accumulating significant scale without any formal marketing or public presence.
The launch comes against a dual backdrop: the widespread policy shift by UK law firms away from paying agent and escrow functions, driven by tightening regulation and mounting compliance obligations; and clear demand for a specialist provider able to offer dedicated M&A expertise, responsive client service and purpose-built technology to support increasingly complex transactions – all in one place.
"There was a clear need for a specialist paying agent and escrow solution for M&A completions. On one side, law firms are less able to offer these services due to rising regulatory demands. On the other side, the third-party services that exist are fragmented, requiring clients to bring in additional providers for FX, account management and other functions that clients value in M&A transactions. We built Corpay's service to address both problems: a single, intuitive platform that does everything."
-- Alex Chernoff, Head of Institutional Sales, EMEA, Corpay Cross-Border
A market in structural transition
For many years, law firms routinely absorbed the paying agent and escrow function as a natural extension of their M&A mandate. That model is breaking down under pressure from regulatory restrictions, increasing AML and KYC requirements, and rising risk exposure.
Legal practices at every level – from Magic Circle firms to leading regional practices – are referring paying agent and escrow mandates to third-party specialists. More than 90% of Corpay's completed transactions have originated from a law firm – whether sell-side or buy-side – identifying the need for a specialist alternative for their clients. On 77% of deals, the mandate came directly from sell-side legal counsel.
Scale built on referral
Since becoming operational 18 months ago, Corpay's Paying Agent and Escrow service has built its book of business through introductions and word of mouth alone. The numbers reflect the pace at which demand has grown:
67 transactions completed since inception
£3bn+ in total transaction volume processed
1,770 individual payments managed, with an average of 28 outbound payments per deal
Transactions spanning financial services, technology, healthcare, oil and gas, consumer brands, retail, education, recycling and sport
41% of deals involved an international component, with FX services required on 27%
62% of deals involved private equity, either as owner or acquirer
That the service has reached this scale without a formal market presence speaks to the need for a high-quality offering in the space.
"The product has grown faster than we anticipated precisely because the need is real and urgent. Law firms need to know that their client's funds will be handled by a regulated specialist who can manage multi-party, multi-currency disbursements with precision, and who takes full responsibility for the compliance framework around that process. That is what we have built, and that is why we are being brought into transactions at the earliest possible stage."
-- Joseph Stevens, Executive Director, Corpay Cross-Border
How the service works
Corpay's Paying Agent and Escrow service operates across two core functions:
– Payment processing: Secure collection of worldwide beneficiary details and payment instructions through a digital platform, with controlled disbursement to multiple recipients at completion or post-completion.
– Escrow accounts: Secure, independent holding of funds under agreed terms, supporting deposits, holdbacks, earn-outs, deferred consideration and other conditional release mechanics.
The service is designed to integrate cleanly into existing deal processes, working alongside legal advisers, corporate finance teams and principals to ensure that funds move exactly in line with agreed completion mechanics – without delay, ambiguity or operational risk.
The service is backed by Corpay’s global footprint, strong balance sheet and extensive international payments network, enabling the Paying Agent and Escrow service to deliver the scale, security and cross-border capabilities required by today’s M&A market.
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Notes to editors
Data cited in this release is drawn from Corpay Cross-Border's internal transaction records for the period from service inception to June 2026. All volume figures are in GBP. Deal counts and payment volumes reflect completed transactions only.
About Corpay Cross-Border
Corpay Cross-Border is a global leader in foreign exchange and cross-border payment solutions, serving corporates, financial institutions and private market participants. Its Paying Agent and Escrow service provides an independent, platform for the controlled receipt, safeguarding and disbursement of funds in M&A and complex transactions.
Media contacts
For press enquiries, please contact:
Alice Murray, Head of Content and Communications, Corpay Private Markets
corpay.com
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