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Iceland’s Síminn Pay partners with Enfuce launch virtual credit card

By Gloria Methri

June 06, 2024

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Enfuce, Card Issuing, Payment Processing, Síminn Pay, FinTech, Commercial Cards, SustainabilityEnfuce has announced a partnership with Síminn Pay, the FinTech arm of the largest telecom service provider in Iceland. To help its commercial clients reduce their carbon footprints, Enfuce is launching a new virtual commercial card programme for Síminn Pay, equipped with a CO2 calculator by climate action platform Deedster.

With this new partnership, Síminn Pay, with a substantial business client base of around 14,000 in Iceland, is introducing a commercial card solution that will provide an easy onboarding process and accessible credit lines for Síminn Pay’s customers. The new open-loop Mastercard credit card, sponsored by Enfuce, is a virtual card compatible with Apple Pay and Google Pay.

Since November 2022, Enfuce has issued 8,000 consumer credit cards for Síminn Pay, enabling its users to make seamless payments. The new commercial card programme strengthens this relationship, highlighting Síminn Pay’s confidence in Enfuce’s modular and cloud-based card payment solutions.

This collaboration also sets a new standard for sustainability. Enfuce will provide Síminn Pay with authorisation and transaction data related to purchases, which Deedster will use to calculate the carbon footprint of Síminn Pay’s clients’ transactions. This use of advanced analytics and reporting enables Síminn Pay’s clients to understand the carbon emissions of their business activities and incorporate actionable insights into their own ESG reporting.

Monika Liikamaa, Co-Founder and co-CEO of Enfuce said, “We’re thrilled to be levelling up our long-standing partnership with Síminn Pay, a company that shares our Nordic values and commitment to sustainability. This collaboration is a testament to our joint vision for a more environmentally responsible future and to setting new standards in the FinTech and telecom industries.”

Gunnar Hafsteinsson, Managing Director of Síminn Pay, added, “Our partnership with Enfuce introduces an innovative commercial card solution that significantly benefits our business clients. By integrating Deedster’s CO2 calculator, we are reinforcing our commitment to sustainability and enhancing the value we offer to our customers. This new programme not only expands our financial services but also empowers our clients to make environmentally conscious decisions.”

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