back Back

Enfuce and Orka Ventures launch consumer lending card in the Nordics

By Gloria Methri

January 11, 2023

  • BNPL
  • Buy Now Pay Later
  • consumer lending card
Share

Enfuce, Orka Ventures, consumer lending card, Nordics, Buy Now Pay Later, BNPL, FinTech, Pay Now Finance Later, Orka Card Issuer processing powerhouse Enfuce has teamed up with Orka Ventures, the FinTech holding company, to launch Orka Card, a new consumer lending card and mobile app that challenges Buy Now Pay Later (BNPL) lending.

Orka Ventures will leverage Enfuce’s modular processing and compliance capabilities to launch card services across its European markets. With these new capabilities, the Orka Card will enable customers to integrate their existing bank accounts into one card and app.

To challenge BNPL lending, Orka Card will also incorporate a Pay Now Finance Later (PNFL) feature, so that a customer can choose to refinance a transaction that was originally executed through other debit and credit cards. For the first time in Iceland, the Orka Card mobile app will enable open banking connections by integrating customers’ bank accounts and supporting its PNFL feature.

The company, which has been serving customers for over a decade in Iceland, has established separate brands in the Czech Republic, and Denmark. It selected Enfuce as a partner in the Nordics to support its planned growth into that region. Enfuce will also work with Orka Ventures to launch Orka Card in Finland, Sweden, and Norway.

Ondřej Šmakal, CEO of Orka Ventures, said, “We chose Enfuce because of its excellent technical expertise, supportive team, and great attitude to problem-solving. Enfuce is now a part of our team, and our developers consistently give us feedback about how easy it is to integrate with Enfuce’s platform. It was also important to us to choose a partner that is willing to support the expansion of Orka Card into the Nordic markets as well as to work with us in Iceland – this is not common as it’s a small country with complicated regulations.”

Denise Johansson, Co-Founder, and Co-CEO of Enfuce added, “The Enfuce mission is to remove the complexity of payments and provide flexible payment solutions that enable our customers to grow and provide an excellent customer experience to their end-customers. We are confident that our partnership with Orka Ventures will deliver real value to consumers in the core markets of Iceland and the Nordic regions.”

Previous Article

January 11, 2023

Gaming platform Voidu selects Worldline as payments partner

Read More
Next Article

January 11, 2023

Clayfin and Bandhan Bank win Best Digital Channel/Platform award from IBS Intelligence

Read More








IBSi Daily News Analysis

Generative AI

April 12, 2024

BNPL

Security experts sound the alarm on Deepfake threats in the age of AI

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

April 12, 2024

Navy Federal Credit Union expands partnership with Backbase

Read More

April 12, 2024

FinTech Focus: Catch latest developments of the week

Read More

April 12, 2024

Parafin secures $125m warehouse facility from Silicon Valley Bank & Trinity Capital

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023