3 March 2025
Finseta plc
("Finseta", the
"Company" or the "Group")
Launch of Finseta Corporate
Card
Provides new revenue stream and
expansion of addressable market
Finseta plc (AIM: FIN), a foreign exchange and payments solutions company offering
multi-currency accounts to businesses and individuals through its
proprietary technology platform, is pleased
to announce 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."
Enquiries
|
Finseta
plc
James Hickman, Chief Executive
Officer
Judy Happe, Chief Financial Officer
|
+44 (0)203 971
4865
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|
|
|
Shore Capital
(Nominated Adviser and
Broker)
Daniel Bush, Tom Knibbs (Corporate
Advisory)
Guy Wiehahn (Corporate Broking)
|
+44 (0)207 408
4090
|
|
|
|
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Gracechurch
Group (Financial PR)
Harry Chathli, Claire Norbury, Henry
Gamble
|
+44 (0)204 582
3500
|
About Finseta plc
Finseta plc (AIM: FIN) is a foreign
exchange and payments company offering multi-currency accounts and
payment solutions to businesses and individuals. Headquartered in
the City of London, Finseta combines a proprietary technology
platform with a high level of personalised service to support
clients with payments in over 165 countries in 140 currencies. With
a track record of over 12 years, Finseta has the expertise,
experience and expanding global partner network to be able to
execute complex cross-border payments. It is fully regulated,
through its wholly-owned subsidiaries, by the Financial Conduct
Authority as an Electronic Money Institution and by the Financial
Transactions and Reports Analysis Centre of Canada as a Money
Services Business.
www.finseta.com
