Issuer processing Fintech Enfuce announces a partnership with French worktech unicorn, Swile to launch an employee benefits card in France that is set to transform the entire employee benefits space.
The new all-in-one card integrates different employee benefits, “from lunch and gift vouchers to travel expenses, into a single, secure and innovative payment solution, streamlining and simplifying the entire employee experience, like never before.”
As one of the largest players in France’s employee benefit industry, processing €3 billion in transaction volume per year, Swile is on a mission “to disrupt the way businesses give rewards to their employees.”
In a landscape where traditional companies still rely “on physical paper vouchers, Swile was among the first to digitalize the lunch voucher solution.”
Now, thanks to this partnership, it is taking “a step further, aiming to streamline the entire employee benefit experience.”
With this new partnership Swile leverages Enfuce’s modular, advanced and cloud-based issuer processing capabilities, “to create one of the most unique offerings in the market, which consolidates multiple employee benefits, from meal to mobility and culture vouchers into one standalone card.”
With over 3 million users expected “to hop on board with this solution, the card works in physical stores and online, and it can be added to digital wallets – just like regular payment cards.”
Swile customers can now also “control when, where, and how the cards are used on a granular level, allowing businesses to create sophisticated rules for approving and declining payment transactions in real time with authorization control, as well as set purchase restrictions based on budget or merchant category codes.”
With employee benefit being a highly regulated product, Enfuce’s technology “is fully compliant and allows for great reporting capabilities, with each card application linked to its own account which holds the balance, so that funds are always taken from the right ledger.”
Over the past few years, the way we work “has drastically changed, with a wide range of employee benefits becoming increasingly important to attract and retain talent.”
Indeed, the global meal vouchers & employee benefits solutions market “is expected to grow from $232 billion in 2024 to $407 billion by 2032.”
Now more than ever, companies who aim “to stand out from the competition by expanding the array of employee benefits they provide, need to consolidate these offerings onto a digital and streamlined payment solution that is easy, secure and fast to use.”
Denise Johansson, Co-Founder & Co-CEO of Enfuce, comments:
“This all-in-one card is truly changing the game for the entire employee benefits space, promising a single and easily accessible employee payment card, which makes life easier for both businesses and their employees. We’re proud to have launched a unique and groundbreaking solution, which is unparalleled in the market and we’re confident that with Swile we will continue on this journey to transform the future of employee benefits.”
Monika Liikamaa, Co-Founder & Co-CEO of Enfuce, comments:
“We’re excited about this strategic partnership with Swile, a key player in the French employee benefit landscape. This collaboration aims to propel innovation and accelerate Swile’s growth and ensure they stand out as they look to dominate the market. At the same time, this represents a significant milestone in our growth journey and expansion across Europe, solidifying our position in the rapidly expanding and changing employee benefits sector, an increasingly vital segment for Enfuce’s success.”
