“Can PayByPhone extend beyond parking payment transactions to become the embedded financial services layer for drivers and fleet operators — combining payments, insurance, and expense management — within the parking moment?”
Founded in 2001 as a mobile parking payment service, PayByPhone grew into a global leader with over 50 million users and more than 1,300 municipal and private parking clients. Acquired by Corpay, it expanded from pure consumer parking payments to a B2B fleet and corporate parking management platform (PayByPhone Business), embedding payment and expense management capabilities for corporate fleets through the Edenred Payment Solutions partnership. In 2024 the company moved into embedded insurance with PayByPhone Protect, signalling a broader embedded-finance monetisation strategy. In 2026, Lightyear Capital agreed to acquire PayByPhone from Corpay to accelerate further product innovation as a standalone business.
PayByPhone processes payments through Edenred Payment Solutions.
PayByPhone is founded in 2001 and headquartered in Vancouver, British Columbia, Canada.
Get a read on where your own stack stands against PayByPhone and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.