UK-based Cornerstone FS announced today it has signed an agreement with Mastercard to launch a co-branded corporate card product. Under the partnership, Cornerstone will issue commercial cards supported by the Mastercard network to its corporate customers.
The new Mastercard-branded cards represent a key expansion of Cornerstone’s payment capabilities. The fintech company offers multi-currency accounts to businesses through its proprietary technology platform.
According to Cornerstone FS, the corporate card scheme aligns with its strategy to expand payment options for customers. The company expects to roll out the new commercial cards in the third quarter of 2024.
James Hickman, CEO of Cornerstone, commented:
“We are thrilled to have entered this long-term agreement with Mastercard, which will expand our product offer to include commercial cards. This additional payment rail will provide our customers with greater choice and flexibility in managing their business expenses – and it is a key step towards our goal of offering our clients the ability to pay in or pay out, in any currency, via any payment method anywhere in the world.”
Cornerstone FS recently announced revenue grew 100% in the full-year period ending 31st December. EBITDA is expected to be not less than £1.4m.
