Enfuce and Visa team up to boost card issuing process for FinTechs

By Megha Bhattacharya

FinTech Enfuce has announced the launch of a program in partnership with Visa to enable European FinTechs to roll out their own payment card offerings cost-effectively in only 8 weeks. FinTechs can offer their customers physical and virtual payment cards without having to spend months on the launch, getting the required certifications, or hire in-house experts for business processes mandated by card schemes.

“Enabling card issuing for non-licensed fintechs in only 8 weeks is groundbreaking. This opens new opportunities for them to offer a more seamless, fun, effortless and most of all secure customer experience in a scalable way”, said Denise Johansson, Co-Founder at Enfuce.

Enfuce allows FinTechs to design and launch flexible payment cards that are highly customizable, and support the latest digital payment features, including Apple Pay, Google Pay and Samsung Pay. Built on Enfuce’s scalable payment processing platform, the service allows FinTechs to enter new geographical markets and launch new features quickly. The new service is a fully turnkey card issuing service including key enablers such as BIN sponsorship, card scheme integration as well as fraud prevention and dispute management.

“Since we founded Enfuce, we’ve been looking for ways to change the payment industry. Collaboration is the key to success, and having Visa on board with us on this amazing offering is proof of great partnership between an industry giant and a startup”, Johansson stated.

Visa will power the program with tokenized multi-currency BINs, which enables the FinTech’s customers across Europe to launch and scale prepaid and debit card products for both business and consumer customers. Through the service, companies will introduce their card products to the market in an accelerated timeline and get a direct commercial advantage in comparison to obtaining their own BIN.

“We are thrilled to provide increased support and speed to market for the Fintech ecosystem. Collaborating with an enablement partner like Enfuce makes it possible for the Fintechs to build and launch their products effectively on Visa network, and help them grow and scale their business in record time” said Helene Podsadni Nilsson, Head of Fintechs Nordics & Baltics at Visa.