Financial and Business News

Cornerstone Strikes Deal with Mastercard for Corporate Card Product

Tuesday, 23/01/2024 | 09:13 GMT by Damian Chmiel
  • The cooperation allows Cornerstone to issue Mastercard co-branded commercial cards.
  • After the announcement, the company's shares reached a two-year high on the LSE.
mastercard
Bloomberg

The London-based financial services company Cornerstone FS plc announced today that it has signed an agreement with Mastercard to launch a new corporate card product.

Under the terms of the deal, Cornerstone will be able to issue commercial credit and debit cards co-branded with Mastercard for its business customers. The company expects to roll out the new corporate card offering in the third quarter of 2024.

Cornerstone Partners with Mastercard

The partnership represents a move by Cornerstone to expand the payment options it provides to customers. The company aims to enhance its capabilities by establishing relationships with leading financial services providers like Mastercard.

"We are thrilled to have entered this long-term agreement with Mastercard, which will expand our product offer to include commercial cards," said the CEO of Cornerstone, James Hickman. "This additional payment rail will provide our customers with greater choice and flexibility in managing their business expenses."

Hickman added the corporate card scheme is a key step towards Cornerstone's goal of enabling its clients to "pay in or pay out, in any currency, via any payment method anywhere in the world."

The company statement did not provide further financial or operational details about the partnership. Cornerstone FS plc operates a proprietary technology platform offering businesses and individuals multi-currency accounts.

Cornerstone Shares Hit Two-Year High after Mastercard Partnership Announcement

Shares of Cornerstone on the London Stock Exchange (LSE: CSFS) surged to over two-year highs, reaching 40 pence, in response to the morning announcement of the partnership with Mastercard.

Source: Yahoo Finance
Source: Yahoo Finance

At the time of writing, some of these gains had receded to 37.6 pence, yet CSFS still registered an increase of almost 8% today. Following a series of positive financial reports, this marks another strong spike in the company's stock in 2024. As Finance Magnates reported two weeks ago, Cornerstone announced an increase of 100% in revenue for 2023, reaching £9.6 million.

"It has been an excellent year for Cornerstone as we made substantial strategic progress culminating in a set of strong financial results which significantly exceeded the Board's expectations this time last year," Hickman said.

The latest results confirmed the previous report stating that revenues for 2023 will be "materially above current market expectations."

The London-based financial services company Cornerstone FS plc announced today that it has signed an agreement with Mastercard to launch a new corporate card product.

Under the terms of the deal, Cornerstone will be able to issue commercial credit and debit cards co-branded with Mastercard for its business customers. The company expects to roll out the new corporate card offering in the third quarter of 2024.

Cornerstone Partners with Mastercard

The partnership represents a move by Cornerstone to expand the payment options it provides to customers. The company aims to enhance its capabilities by establishing relationships with leading financial services providers like Mastercard.

"We are thrilled to have entered this long-term agreement with Mastercard, which will expand our product offer to include commercial cards," said the CEO of Cornerstone, James Hickman. "This additional payment rail will provide our customers with greater choice and flexibility in managing their business expenses."

Hickman added the corporate card scheme is a key step towards Cornerstone's goal of enabling its clients to "pay in or pay out, in any currency, via any payment method anywhere in the world."

The company statement did not provide further financial or operational details about the partnership. Cornerstone FS plc operates a proprietary technology platform offering businesses and individuals multi-currency accounts.

Cornerstone Shares Hit Two-Year High after Mastercard Partnership Announcement

Shares of Cornerstone on the London Stock Exchange (LSE: CSFS) surged to over two-year highs, reaching 40 pence, in response to the morning announcement of the partnership with Mastercard.

Source: Yahoo Finance
Source: Yahoo Finance

At the time of writing, some of these gains had receded to 37.6 pence, yet CSFS still registered an increase of almost 8% today. Following a series of positive financial reports, this marks another strong spike in the company's stock in 2024. As Finance Magnates reported two weeks ago, Cornerstone announced an increase of 100% in revenue for 2023, reaching £9.6 million.

"It has been an excellent year for Cornerstone as we made substantial strategic progress culminating in a set of strong financial results which significantly exceeded the Board's expectations this time last year," Hickman said.

The latest results confirmed the previous report stating that revenues for 2023 will be "materially above current market expectations."

Topics
mastercard
partnership
Cornerstone FS
About the Author: Damian Chmiel
Damian Chmiel
  • 3116 Articles
  • 96 Followers
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.

More from the Author

FinTech

Exness Broker Review 2025: Regulation, Platforms & Trading Conditions Explained | Finance Magnates

Exness Broker Review 2025: Regulation, Platforms & Trading Conditions Explained | Finance Magnates

In this video, we take an in-depth look at @Exness , a global multi-asset broker operating since 2008, known for fast withdrawals, flexible account types, and strong regulatory coverage across multiple regions. We break down Exness’s regulatory framework, supported trading platforms including MetaTrader 4, MetaTrader 5, Exness Terminal, and the Exness Trade App, as well as available account types such as Standard, Pro, Zero, and Raw Spread. You’ll also learn about Exness’s leverage options, fees and commissions, swap-free trading, available instruments across forex, commodities, indices, stocks, and cryptocurrencies, and what traders can expect in terms of execution, funding speed, and customer support. Watch the full review to see whether Exness aligns with your trading goals and strategy. 👉 Explore Exness’s full broker listing on the Finance Magnates Directory: https://directory.financemagnates.com/multi-asset-brokers/exness/ 📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage. Connect with us: 🔗 LinkedIn: /financemagnates 👍 Facebook: /financemagnates 📸 Instagram: https://www.instagram.com/financemagnates 🐦 X: https://x.com/financemagnates 🎥 TikTok: https://www.tiktok.com/tag/financemagnates ▶️ YouTube: /@financemagnates_official #Exness #ExnessReview #Forex #FinanceMagnates #ForexBroker #BrokerReview #CFDTrading #OnlineTrading #MarketInsights

In this video, we take an in-depth look at @Exness , a global multi-asset broker operating since 2008, known for fast withdrawals, flexible account types, and strong regulatory coverage across multiple regions. We break down Exness’s regulatory framework, supported trading platforms including MetaTrader 4, MetaTrader 5, Exness Terminal, and the Exness Trade App, as well as available account types such as Standard, Pro, Zero, and Raw Spread. You’ll also learn about Exness’s leverage options, fees and commissions, swap-free trading, available instruments across forex, commodities, indices, stocks, and cryptocurrencies, and what traders can expect in terms of execution, funding speed, and customer support. Watch the full review to see whether Exness aligns with your trading goals and strategy. 👉 Explore Exness’s full broker listing on the Finance Magnates Directory: https://directory.financemagnates.com/multi-asset-brokers/exness/ 📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage. Connect with us: 🔗 LinkedIn: /financemagnates 👍 Facebook: /financemagnates 📸 Instagram: https://www.instagram.com/financemagnates 🐦 X: https://x.com/financemagnates 🎥 TikTok: https://www.tiktok.com/tag/financemagnates ▶️ YouTube: /@financemagnates_official #Exness #ExnessReview #Forex #FinanceMagnates #ForexBroker #BrokerReview #CFDTrading #OnlineTrading #MarketInsights
More Videos

  • FINANCE MAGNATES LONDON SUMMIT 2025

    FINANCE MAGNATES LONDON SUMMIT 2025

    The FMLS:25 highlights video is now live - a look back at the conversations, the energy on the floor, and the moments that shaped this year’s summit. While that’s still fresh, the next launches across the FM Events portfolio are already taking shape. FM Singapore takes place on the 12-14 of May, connecting the APAC market with its own distinct audience and priorities. FMAS:26 heads to Cape Town on 26–27 May shortly after, bringing the focus to Africa’s trading and fintech ecosystem. Different regions. Different audiences. Same commitment to building the right rooms for meaningful conversations. More details coming very soon. The launches are imminent. - here you go

    The FMLS:25 highlights video is now live - a look back at the conversations, the energy on the floor, and the moments that shaped this year’s summit. While that’s still fresh, the next launches across the FM Events portfolio are already taking shape. FM Singapore takes place on the 12-14 of May, connecting the APAC market with its own distinct audience and priorities. FMAS:26 heads to Cape Town on 26–27 May shortly after, bringing the focus to Africa’s trading and fintech ecosystem. Different regions. Different audiences. Same commitment to building the right rooms for meaningful conversations. More details coming very soon. The launches are imminent. - here you go

  • What sources does the Finance Magnates newsroom rely on before publishing a story? #FinanceNews

    What sources does the Finance Magnates newsroom rely on before publishing a story? #FinanceNews

    Yam Yehoshua, Editor-in-Chief at Finance Magnates, explains the editorial process: direct industry sources, reports, regulators, social media signals, and thorough cross-checking before anything goes live. 📰 Industry sources 📊 Reports & regulators 🔎 Verification before publication

    Yam Yehoshua, Editor-in-Chief at Finance Magnates, explains the editorial process: direct industry sources, reports, regulators, social media signals, and thorough cross-checking before anything goes live. 📰 Industry sources 📊 Reports & regulators 🔎 Verification before publication

  • OnePrime’s Jerry Khargi on Infrastructure, Liquidity & Trust | Executive Interview

    OnePrime’s Jerry Khargi on Infrastructure, Liquidity & Trust | Executive Interview

    Recorded live at FMLS:25 London, this exclusive executive interview features Jerry Khargi, Executive Director at OnePrime, in conversation with Andrea Badiola Mateos from Finance Magnates. In this in-depth discussion, Jerry shares: - OnePrime’s journey from a retail-focused business to a global institutional liquidity provider - What truly sets award-winning trading infrastructure apart - Key trends shaping institutional trading, including technology and AI - The importance of transparency, ethics, and reputation in long-term success - OnePrime’s vision for growth over the next 12–24 months Fresh from winning Finance Magnates’ Best Trading Infrastructure Broker, Jerry explains how experience, mentorship, and real-world problem solving form the “special sauce” behind OnePrime’s institutional offering. 🏆 Award Highlight: Best Trading Infrastructure Broker 👉 Subscribe to Finance Magnates for more executive interviews, market insights, and exclusive coverage from the world’s leading financial events. #FMLS25 #FinanceMagnates #OnePrime #InstitutionalTrading #Liquidity #TradingInfrastructure #ExecutiveInterview

    Recorded live at FMLS:25 London, this exclusive executive interview features Jerry Khargi, Executive Director at OnePrime, in conversation with Andrea Badiola Mateos from Finance Magnates. In this in-depth discussion, Jerry shares: - OnePrime’s journey from a retail-focused business to a global institutional liquidity provider - What truly sets award-winning trading infrastructure apart - Key trends shaping institutional trading, including technology and AI - The importance of transparency, ethics, and reputation in long-term success - OnePrime’s vision for growth over the next 12–24 months Fresh from winning Finance Magnates’ Best Trading Infrastructure Broker, Jerry explains how experience, mentorship, and real-world problem solving form the “special sauce” behind OnePrime’s institutional offering. 🏆 Award Highlight: Best Trading Infrastructure Broker 👉 Subscribe to Finance Magnates for more executive interviews, market insights, and exclusive coverage from the world’s leading financial events. #FMLS25 #FinanceMagnates #OnePrime #InstitutionalTrading #Liquidity #TradingInfrastructure #ExecutiveInterview

  • How does the Finance Magnates newsroom decide which updates are worth covering? #financenews

    How does the Finance Magnates newsroom decide which updates are worth covering? #financenews

    What makes an update worth covering in financial media? According to Yam Yehoshua, Editor-in-Chief at Finance Magnates, editorial focus starts with relevance: stories that serve the industry, support brokers and technology providers, and help decision-makers navigate their businesses. A reminder that strong financial journalism is built on value, not volume.

    What makes an update worth covering in financial media? According to Yam Yehoshua, Editor-in-Chief at Finance Magnates, editorial focus starts with relevance: stories that serve the industry, support brokers and technology providers, and help decision-makers navigate their businesses. A reminder that strong financial journalism is built on value, not volume.