Foreign exchange and payments solutions firm, Cornerstone FS, has signed an agreement with Mastercard to launch a corporate card scheme.
Cornerstone offers multi-currency accounts to businesses and individuals through its proprietary technology platform.
Under the agreement, Cornerstone will be able to issue commercial cards co-branded and supported by Mastercard for the group's corporate customers. Cornerstone FS expects to launch the corporate card scheme during Q3 2024.
The move represents execution on the firm’s previously stated strategy, to expand the payment methods offered to customers and to enhance its capabilities through establishing partnerships.
CEO of Cornerstone, James Hickman, said: "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.”
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