Enfuce Teams Up with Mastercard to Expand Card as a Service Platform in the Nordics

Enfuce is pleased to confirm an extended partnership with Mastercard (NYSE: MA) in order to expand the company’s Card as a Service platform in the Nordics.

Through the partnership, Mastercard powers Card as a Service “with tokenized multi-currency BINs in the Nordics, enabling Enfuce’s customers to launch and issue their own physical and virtual Mastercard payment cards in just weeks rather than months.”

Enfuce Card as a Service is described as “a turnkey card issuing service including BIN sponsorship, program management, card life cycle management, and fraud and dispute management.”

Enfuce helps fintechs “to become card issuers in just weeks and enable their customers to start paying instantly from applying for their cards.”

Denise Johansson, Co-CEO and Co-Founder at Enfuce, said:

“We’ve proven that our Card as a Service offering has great attraction in the industry. We’re excited to work together with Mastercard to further strengthen our leading position in the Nordics. This enhanced partnership is a result of our great collaboration over the span of many years.” 

Through Enfuce’s Card as a Service platform, fintech companies can “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 a high-performing and extensively scalable payment processing platform, the service “allows fintech companies to enter new geographical markets and launch new features fast.”

Through the partnership, Enfuce’s customers “can issue and scale Mastercard prepaid and debit card products for both businesses and consumers in certain Nordic countries.” One of Enfuce’s customers has already “launched its Mastercard product in just two months through Card as a Service, with more fintechs in the pipeline.”

Johan Modenius, Head of Financial Institutions, Nordics and Baltics, at Mastercard, added:

“We are proud to expand our partnership with a successful fintech company like Enfuce and excited to have a local partner in the Nordics providing Card as a service, enabling fintechs to launch Mastercard cards in just weeks. As Enfuce is the first ever winner of our partnership program Lighthouse, it is certainly a privilege to continue to be part of their expansion journey.”

In 2018, Enfuce won “the first edition of the Mastercard Lighthouse program, the leading partnership based open innovation program in the Nordics and Baltics, designed to catalyze and scale symbiotic partnerships between promising startups, Mastercard and leading Nordic and Baltic Banks.”

Since then, Enfuce has “become one of the fastest growing fintech companies in Europe.” Currently, Enfuce and Mastercard “collaborate to help the Lighthouse program winners launch payment cards.”

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