Glint becomes card issuer in UK as it strengthens relationship with Mastercard

By Aisling Finn on Thursday 10 December 2020

Digital BankingSavings and Investment

Mastercard will now issue the gold trading fintech’s cards directly to its customers.

Glint becomes card issuer in UK as it strengthens relationship with Mastercard
Image source: Jason Cozens/Glint

 

Gold trading and investment app Glint has taken a step closer to being a comprehensive payments platform.

The fintech is now a ‘Principal Member’ with Mastercard, meaning that the payment giant can issue Glint’s cards directly to its UK customers and also issue them on behalf of other institutions and corporations.

As of yesterday, Glint holds a UK Mastercard licence, joining the likes of fellow fintechs Tide, Monese and Curve.

Jason Cozens, founder and CEO of Glint, said: “Whilst the ability to issue cards directly to customers allows us to grow our core customer base; the opportunity to partner with other fintechs and corporates to issue cards on their behalf has unlocked access to an entirely new revenue stream. This can be leveraged to drive our ambitious strategy and expansion plans.”  

“The entire industry’s focus has intensified around compliance and customer security. Transparency and trust are two of our core values and by taking this responsibility into our own hands our customers know that their finances are fully secure and protected.”  

This announcement follows the launch of Glint’s new peer-to-peer gold transfer service Glint It!, which allows users to send amounts of gold directly to each other, all within the Glint app.

Edoardo Volta, head of fintech for Mastercard UK & Ireland, added: “Mastercard has already established itself as the partner of choice for Fintechs across Europe and this next step for Glint is a great example of Fintech’s growing with us.”

“We are committed to driving innovation in payments to ultimately give consumers choice and convenience on how they pay.” 

Earlier this year, Glint fell victim to the collapse of doomed payment processing firm, Wirecard, with the fintech getting back up and running in no time at all following the hiccup.

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