Finseta Plc (LON: FIN), a foreign exchange and payments solutions company offering multi-currency accounts to businesses and individuals through its proprietary technology platform, has announced the commercial availability of the Finseta Corporate Card, a payment card scheme for corporate customers.
The Finseta Corporate Card offering will provide the Group with an additional, repeatable revenue stream from business customers and will expand its addressable target market. The Group will receive a proportion of the value of each customer card transaction and initial revenues are expected from corporate cards from H1 2025. Finseta anticipates that the corporate card scheme, which carries a higher gross margin than its existing service offering, will begin to contribute to operating profits from 2026.
The Finseta Corporate Card is co-branded and supported by Mastercard and is available to businesses as virtual or physical cards, has multi-currency capability and can be used in over 210 countries. The Group will market the new offering initially to its existing customer base with this additional service providing corporate customers with greater choice and flexibility in managing their ongoing business expenses. Finseta will also target new corporate customers where the primary potential service provision is a corporate card scheme.
James Hickman, CEO of Finseta, said: “We are delighted that the Finseta Corporate Card is now available. The introduction of a corporate card scheme is a key element of our strategy to diversify our product offering and expand our payment rails. As a customer-first business, we aim to remove all barriers to expenditure – enabling customers to make payments wherever, whenever and however they want.
“With the Finseta Corporate Card, customers can easily, instantly and securely make payments globally. This additional offering enhances the service that we can provide to our existing customers and expands our target market to corporates where the primary requirement is a corporate card scheme. This is an exciting moment for Finseta and we look forward to reporting on further progress.”
