Cornerstone FS plc, a foreign exchange and payments
solutions provider, has announced its global expansion strategy. The company
has obtained a Money Services Business licence (MSB) from the Financial
Transactions and Reports Analysis Centre of Canada, allowing it to operate in
Canada.
The company’s wholly owned Canada-registered subsidiary will
leverage its proprietary technology platform to offer multi-currency accounts
and payment solutions to businesses and individuals across Canada.
James Hickman, CEO of Cornerstone
According to Cornerstone, it
aims to emphasize providing service-led approaches tailored to the Canadian
market with this establishment of a full-service office in Canada.
James Hickman, the CEO of Cornerstone, expressed his
enthusiasm about this development: “We are delighted to receive
authorization to operate in Canada. Having received enquiries in Canada for our
services through our existing network, the establishment of a regulated
business will enable us to fully pursue such opportunities and leverage local
payment rails and lower transaction costs.”
Cornerstone to Issue Co-Branded Commercial Cards with
Mastercard
Cornerstone
has announced a partnership with Mastercard aimed at launching a new
corporate card product, as reported by Finance Magnates. The agreement
allows Cornerstone to issue commercial credit and debit cards co-branded with
Mastercard for its business clientele, with the anticipated rollout slated for
the third quarter of 2024.
By forging ties
with leading financial services providers like Mastercard, Cornerstone seeks to
bolster its operational capabilities and enhance customer experience.
Hickman
highlighted its potential to offer clients greater flexibility and choice in
managing business expenses. He emphasized that the corporate card scheme aligns
with Cornerstone’s overarching objective of enabling clients to conduct
transactions seamlessly across different currencies and payment methods
globally.
Despite the announcement, specific financial and operational
details regarding the partnership remain undisclosed. Nevertheless, the
development marks a pivotal step forward for Cornerstone, leveraging its
proprietary technology platform to offer businesses and individuals
multi-currency accounts alongside the forthcoming corporate card offering.
Cornerstone FS plc, a foreign exchange and payments
solutions provider, has announced its global expansion strategy. The company
has obtained a Money Services Business licence (MSB) from the Financial
Transactions and Reports Analysis Centre of Canada, allowing it to operate in
Canada.
The company’s wholly owned Canada-registered subsidiary will
leverage its proprietary technology platform to offer multi-currency accounts
and payment solutions to businesses and individuals across Canada.
James Hickman, CEO of Cornerstone
According to Cornerstone, it
aims to emphasize providing service-led approaches tailored to the Canadian
market with this establishment of a full-service office in Canada.
James Hickman, the CEO of Cornerstone, expressed his
enthusiasm about this development: “We are delighted to receive
authorization to operate in Canada. Having received enquiries in Canada for our
services through our existing network, the establishment of a regulated
business will enable us to fully pursue such opportunities and leverage local
payment rails and lower transaction costs.”
Cornerstone to Issue Co-Branded Commercial Cards with
Mastercard
Cornerstone
has announced a partnership with Mastercard aimed at launching a new
corporate card product, as reported by Finance Magnates. The agreement
allows Cornerstone to issue commercial credit and debit cards co-branded with
Mastercard for its business clientele, with the anticipated rollout slated for
the third quarter of 2024.
By forging ties
with leading financial services providers like Mastercard, Cornerstone seeks to
bolster its operational capabilities and enhance customer experience.
Hickman
highlighted its potential to offer clients greater flexibility and choice in
managing business expenses. He emphasized that the corporate card scheme aligns
with Cornerstone’s overarching objective of enabling clients to conduct
transactions seamlessly across different currencies and payment methods
globally.
Despite the announcement, specific financial and operational
details regarding the partnership remain undisclosed. Nevertheless, the
development marks a pivotal step forward for Cornerstone, leveraging its
proprietary technology platform to offer businesses and individuals
multi-currency accounts alongside the forthcoming corporate card offering.
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- Source: https://www.financemagnates.com//fintech/cornerstone-ventures-northward-secures-license-for-canadian-operations/
