Shares in Cornerstone FS PLC (AIM:CSFS) jumped 7% in early trades after investors were told that the customer offering is to be expanded via the launch of a corporate card scheme with Mastercard, planned for the third quarter of the year.
Under the agreement signed with the card payment network processor, the AIM-listed company will be able to issue commercial cards for its corporate customers with branding from Cornerstone and Mastercard.
Chief executive James Hickman said: "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."
The group has previously said its strategy is to expand payment methods offered to customers and to enhance capabilities through establishing partnerships.
Earlier this month, it reported revenues for last year doubled to £9.6 million with gross margins improving 210 basis points to 63%.