Mastercard extends partnership with ANNA Money

Mastercard is extending a partnership with business banking FinTech ANNA Money to support the roll-out of value-added services.

ANNA combines a mobile business account, Mastercard debit card and virtual assistant rolled into one app, aimed at startups, freelancers and small businesses.

It has worked with Mastercard since launch in 2018 to provide customers with digital tools to take care of financial admin including invoicing and direct debits.

The extended partnership for its Premium Business Debit Mastercard comes after ANNA added tax accounting, expense management tools and connected bank accounts to its suite of services.

In the next stage of the partnership, ANNA is preparing to become a licensed e-money institution and Mastercard Principal member - and resultantly a direct issuer.

ANNA was in the process of migrating from Wirecard Card Solutions UK, but in light of recent developments, ANNA said it was focusing on obtaining its own e-money licence.

As part of its ongoing growth ambitions, ANNA will ultimately move towards obtaining a full banking licence.

In May, ANNA formed a strategic alliance with ABH Holdings, with the group investing over $21 million into the company and acquiring a majority stake in ANNA at an implied valuation of $110 million.

    Share Story:

Recent Stories

Meet Evelyn, your Economic Sanctions/PEP/Adverse Media Alert Adjudication Analyst
Meet Evelyn, an Economic Sanctions/PEP/Adverse Media Alert Adjudication Analyst, who uses native AI/ML capabilities to automate the Customer/PEP screening and Negative News screening alert adjudication processes for leading BFS organizations with greater speed, accuracy, and consistency than human analysts.

New Business Frontiers
FStech’s Mark Evans discusses the future of financial services with Liu Jianning of Huawei, covering the limitations that current thinking can impose, how financial institutions can embrace technology to be both agile and resilient, and making space for the organisation to focus on the job of creating innovative business models and on delivering business value for their customers.

The Future of Intelligent Finance
FStech Group Editor Mark Evans sits down with Jason Cao, President of Global Financial Services Business Unit, Enterprise BG at Huawei ahead of its Intelligent Finance Summit which was held on 3rd and 4th of June in Shanghai. This Q&A delves into key trends in digital transformation of the financial services industry as well as a look at how data, robotic infrastructure, intelligent storage and innovative technologies are shaping the future for FSIs.