Revolut's logo is displayed on a smartphone next to a Mastercard-branded debit card issued by the U.K. fintech firm.

British fintech firm Revolut has partnered up with Mastercard to help it expand into the U.S. by the end of the year.

The deal means all of Revolut's first debit cards in the U.S. will be issued with Mastercard, while a minimum of half its European cards will carry the payments giant's branding.

Revolut CEO Nik Storonsky said the firm would also use some of Mastercard's new technology, including a platform that enables payments to be sent directly from one card to another.

"When we were trying to launch in the U.S. two years ago, Mastercard became our first offer for it," Storonsky told CNBC in a phone interview, adding he thought the company had "great tech and great infrastructure."

The deal arrives on the heels of a separate partnership Revolut struck with Mastercard's largest rival, Visa, a few weeks ago, which it said would help the firm hire an additional 3,500 people by the summer of 2020 to support its global expansion.

But this new tie-up means that Mastercard will get first dibs when it comes to Revolut cards issued in the U.S. Visa will still be the card network behind 75% of Revolut's cards beyond Europe though, and has said it still plans to support the firm's U.S. launch at some point in the future.