Fintech company Brex has expanded its alliance with Mastercard to leverage new technology and special benefits for its corporate card portfolio in the US.
The companies initially partnered in February this year when Brex agreed to issue the World Elite Mastercard for Business.
Under the expanded alliance, Brex’s Mastercard users will get new segment-based benefits beyond those covered by the Mastercard World Elite programme.
Mastercard president of North America Craig Vosburg said: “From launch to expansion, we make it easy for fintechs to collaborate with us and use our technology and products to deliver innovative solutions to meet their customers’ needs.
“Our dedicated programmes for fintechs ensure that we are focused on helping and enabling them with digital technologies, commercial connections, and strategic investments.”
Brex offers corporate credit cards to e-commerce and life science companies, as well as startup founders. The company also provides financial and expense-management tools.
The company expects Mastercard’s technology to cater to its increasing customer base. It also plans to use Mastercard’s platform to offer new features and rewards for its customers.
Brex co-founder and co-CEO Henrique Dubugras said: “We are pleased to announce an expanded partnership with Mastercard to continue our shared mission to support the entrepreneurial ecosystem.
“Leveraging the depth of Mastercard’s payments platform and global scale allows us to innovate on features and technology that better serves our customers.”