UK-based mobile business account ANNA Money has extended its partnership with payments giant Mastercard to offer value-added services to its customers.
ANNA aims to become a licensed e-money institution (EMI) and Mastercard principal member and ultimately a direct issuer.
The Wales-based financial admin also aims to obtain a full banking license as part of its growth strategy.
ANNA has been working with Mastercard since its launch in 2018. Its clients include start-ups, freelancers, and small businesses.
Mastercard UK and Ireland head of fintech Edoardo Volta said: “We are looking forward to this extension of our partnership as we continue to drive innovative solutions together to enable ANNA’s customers to continue to find the fun in running their businesses.”
ANNA’s current issuer is Wirecard Card Solutions UK (WCS), a unit of the scandal-hit German payments company Wirecard.
ANNA was already in the process of migrating from WCS.
ANNA co-founder Boris Dyakonov said: “This strategic relationship illustrates that Mastercard has recognized that ANNA is a fast-growing, successful challenger in the fintech industry.
“It will give ANNA access to Mastercard’s value-added services, network, and knowledge, which will enhance our growth and bring even better services to our customers.”
ANNA provides clients with a business account on its app, which comes with a Mastercard debit card and virtual assistant.
The app handles everything from invoicing to direct debits.
ANNA has upgraded to Premium Business Debit Mastercard, after recently adding tax accounting, expense management tools and connected bank accounts to its app.