In a recent turn of events, fintech firm Zaggle Prepaid Ocean Services’ share value has risen by 51% following a $20 million contract with Visa (NYSE:V) Worldwide. The company plans to issue forex co-brand cards as part of the deal, announced on Friday. The cards are intended for Zaggle’s corporate clientele and will be integrated into its expense management solution.

The deal with Visa, a significant player in the global payment industry, is expected to bring additional bonuses and incentives for Zaggle. This development comes after a somewhat muted initial public offering (IPO) for the firm, which was nonetheless oversubscribed, indicating strong investor interest.

Despite experiencing a significant year-on-year profit drop, Zaggle has reported an increase in operational revenue. This improvement in revenue, coupled with the new contract with Visa, appears to have considerably boosted the company’s performance and investor confidence.