Via Enfuce’s “turnkey” service, NBX can offer credit and debit cards “with loyalty-boosting crypto rewards.”
NBX, which claims to be the “leading” Nordic crypto exchange, has selected Enfuce, one of Europe’s major Fintech companies, “as its card service provider.” The partnership allows NBX “to offer engaging, loyalty-based Visa credit and debit cards to its customer base, initially in the Nordics.”
Cryptocurrencies are “becoming more mainstream by the day, with more than 100 million people around the world owning crypto.”
The cryptocurrency market “was worth over $3 trillion last year,” according to CoinGecko.
Additionally, developments in blockchain technology which underpins digital assets “holds promise for real-world use cases.”
Norwegian Blockchain Exchange (NBX) “lets anyone take part in this trend.” An established front-runner in its space, NBX “enables people and institutions to buy and trade popular cryptocurrencies like Bitcoin and Ethereum – securely and with below-average fees.”
To realize its vision of providing a more complete financial experience, NBX decided “to expand into payments.”
After a brief discovery process, NBX found that Enfuce had “the right capabilities to deliver a rewards-based payment card.” Together, they are launching NBX-branded cards that “kick back a small percentage of a purchase in the customer’s preferred cryptocurrency.”
Monika Liikamaa, Co-CEO and Co-Founder at Enfuce, said:
“I was extremely inspired by NBX’s ambition to launch this truly original payment card. As a flexible payment partner, our top priority is to evolve with our customers’ needs so they can impress their users with relevant and seamless payments. We have a shared goal of providing frictionless, future-oriented financial services to consumers.”
Enfuce’s Card as a Service covers everything NBX needs “to launch and run scalable, compliant, multi-currency payments across borders.”
The Enfuce team “manages everything from card issuing and a BIN Sponsorship to ongoing back-office services.” Crucially, the company’s cloud-based payment processing “adapts to the unique features required for NBX’s loyalty program.”
CEO of NBX, Stig Kjos-Mathisen said:
“Launching the first crypto-kickback payment card in the Nordics marks a true milestone for NBX. A top priority was finding the right partners to work with. In Enfuce and Nordiska, we have found partners who are truly innovative and flexible, with the same high standards of security and compliance that NBX has. We couldn’t be more excited about this new partnership.”
As a public company handling big trading volumes, NBX “puts compliance, transparency and security at the heart of its business.”
Leveraging Enfuce’s compliance know-how, NBX is able “to accelerate an otherwise complex card issuing journey – and be confident in constantly meeting key industry standards like PCI-DSS.”
Enfuce also “boosts NBX’s ability to launch cards in new geographies with fast time-to-market.”
This empowers NBX “to acquire users through both physical and virtual credit and debit cards – seamlessly integrated with market-leading mobile wallets.” The Card as a Service proposition enables NBX “to fully focus on delivering a first-class customer experience.”