Enfuce partners with Funding Circle

Thursday 16 November 2023 13:24 CET | News

Finland-based card issuing and processing company Enfuce has partnered with UK-based lending platform Funding Circle to launch its new credit card for small businesses.

By introducing the new business credit card feature to its FlexiPay product, Funding Circle can further expand its offering to serve more of its customers’ demands, providing small and medium-sized businesses (SMEs) the flexibility to borrow, pay, and spend. FlexiPay is a revolving line of credit that intends to support small businesses in the UK to divide business costs and manage their short-term cash flow needs.

Finland-based card issuing and processing company Enfuce has partnered with UK-based lending platform Funding Circle to launch its new credit card for small businesses.

Enfuce – Funding Circle partnership objective

To assist in the launch of the FlexiPay card, Enfuce allows Funding Circle to offer SMEs a physical, secure, and flexible business credit card. The new product was developed via Enfuce’s MyCard service, a management application that allows companies to launch their card app.  With FlexiPay card, SMEs can conduct upfront payments directly to suppliers, as well as cover expenses, including stock, equipment, and energy bills. The free FlexiPay by Funding Circle app enables customers to pay bills, schedule payments, and manage their line of credit.

Funding Circle’s commitment is to enable SMEs and the partnership with Enfuce intends to increase the company’s product offering while also supporting its objective of assisting small businesses with simplified lending. According to Enfuce’s officials, the collaboration aims to offer SMEs a steady cash flow and flexible repayment choices, while also supporting their efforts to expand. Representatives from Funding Circle stated that by joining forces with Enfuce, the company can further support its product development journey, in addition to addressing the difficulties that SMEs currently face.

Enfuce’s recent developments and collaborations

As a global card issuer and payment processor, Enfuce merges security and expertise to develop modular, cloud-based payment processing capabilities, being one of the first financial providers to be PCI-DSS certified while running its operations in the public cloud. In recent months, the company had multiple collaborations and launches, including the introduction of a Visa credit card in partnership with NBX in July 2023. Enfuce launched the card via its cloud-native issuing platform, aiming to provide a new method for users to earn Bitcoin through the daily use of a secure and compliant payment card.

Moreover, in June 2023, Enfuce announced that it was chosen by Kvika Bank to launch a Visa consumer credit card, integrate with Apple Pay and Google Pay, and relaunch its Aur app. With the support of Enfuce’s cloud-enabled modular payment solutions, Kvika Bank intended to offer a suite of card and mobile payment solutions, while also developing its multi-brand strategy of transforming financial services in Iceland.

During the same period, Enfuce partnered with SEB Embedded to launch card programmes for the latter’s customers. The two companies planned to develop the virtual and physical card programmes with Enfuce’s cloud-based issuer processor platform, aiming to improve SEB Embedded’s suite of Banking-as-a-Service (BaaS) capabilities with card tools and solutions. Enfuce’s customisable and simplified tech stack and its easily integrated APIs were set to be made available via SEB Embedded’s platform.

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Keywords: SMEs, credit card, digital banking, lending, SME lending
Categories: Banking & Fintech
Companies: Enfuce, Funding Circle
Countries: United Kingdom
This article is part of category

Banking & Fintech



Funding Circle

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