Mastercard Grows Partnership With B2B FinTech ANNA Money

ANNA Money and Mastercard have broadened their partnership to help ANNA’s customers through “value-added services,” according to a Tuesday (Aug. 4) announcement.

ANNA, which was started in 2018, has worked with Mastercard since its launch. The company combines a Mastercard debit card, mobile business account and virtual assistant into one offering, which is designed for freelancers, small businesses and startups.

“ANNA has a unique offering for those working in the creative industries, small businesses and freelancers and we have been delighted to have worked with them since their launch,” Edoardo Volta, head of FinTech at Mastercard U.K. and Ireland, said in the announcement.

ANNA has transformed into an app that handles financial management tasks such as direct debits and invoicing, enabling clients to focus on other tasks. The firm has upgraded to a Premium Business Debit Mastercard after bringing expense management technology, connected bank accounts and tax accounting to its offering in recent times.

“This strategic relationship illustrates that Mastercard has recognized that ANNA is a fast-growing, successful challenger in the FinTech industry,” ANNA Co-founder Boris Dyakonov said in the announcement. “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.”

The next step in ANNA’s transformation is for the company to transition into a licensed EMI and principal member of Mastercard. ANNA has been migrating from Wirecard Card Solutions UK (WCS), and it is looking to receive its own eMoney license in light of the recent challenges at Wirecard.

In May, news surfaced that Payoneer had unveiled a partnership with ANNA in an effort to use artificial intelligence (AI) to simplify international payments. The collaboration allowed the small and medium-sized business (SMB) customers and freelancers to take in international payments via USD and EUR currency into their ANNA accounts.