Agreement with Mastercard

Cornerstone FS plc (AIM: CSFS), a foreign exchange and payments solutions company offering multi-currency accounts to businesses and individuals through its proprietary technology platform, is pleased to announce that it has signed an agreement with Mastercard to launch a corporate card scheme.

Under the agreement, Cornerstone will be able to issue commercial cards co-branded and supported by Mastercard for the Group's corporate customers. The Group expects to launch the corporate card scheme during Q3 2024.

This represents execution on the Group's stated strategy to expand the payment methods offered to customers and to enhance its capabilities through establishing partnerships.

James Hickman, CEO of Cornerstone, 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."