Enfuce launches Visa's Fleet 2.0 solution

Wednesday 6 December 2023 13:12 CET | News

Finland-based card issuing and processing company Enfuce has extended its partnership with Visa to launch the latter’s Fleet 2.0 solution. 

Enfuce and Visa first started their collaboration in June 2021, with the former launching a programme that enabled European fintechs to introduce their payment card offerings. The new certification allows Enfuce to deliver the Visa Fleet 2.0 solution to their joint, potential customers. By continuing to work together, Enfuce and Visa intend to improve fleet management across Europe, providing improved efficiency through data and insights, cost minimisation, and input in sustainable transportation and mobility budgets.

Finland-based card issuing and processing company Enfuce has extended its partnership with Visa to launch the latter’s Fleet 2.0 solution.

Visa’s Fleet 2.0 solution capabilities and advantages

The solution offered by Visa is not restricted to specific fuel retailers or types of products such as petrol or diesel, being available for use at any location accepting Visa cards. Considering this, Visa’s Fleet 2.0 solution intends to enhance operational efficiency by allowing drivers to choose the most convenient routes and access optimal fuel prices, while also offering accessibility with an all-in-one, integrated card available through both physical and digital wallets and removing the need to carry multiple fuel cards. In addition to fuel-related payments, the fleet and mobility card can be used for multiple types of expenses chosen by the issuer, therefore being accommodating for the expanding landscape of electric vehicles (EVs). As per the information detailed in the press release, Visa reports that 70% of fleet managers intend to transition to electric, hybrid, or hydrogen cell vehicles within the next five years.

Furthermore, Visa’s Fleet 2.0 solution addresses the increasing demand for flexibility to accommodate EV charging without investment on the issuer’s part by integrating several different use cases, including EV charging, tools, mass transit, and micro-mobility. Due to its modular and customisable tech stack, the fleet and mobility card plans to introduce multiple other benefits, such as:
  • Detailed financial reporting and operational efficiency through consolidation of transaction data, including purchased items, unit prices, and associated VAT on a single card, with real-time data also supporting fraud prevention;

  • Restrictions for specific types of purchases, offering companies improved control over card usage, reducing the risk of inappropriate spending;

  • Improved security through Enfuce’s deployment of secure EMV technology and authentication methods like 3DS.

According to Enfuce’s officials, the launch of the card focuses on supporting card issuers across Europe in expanding in the current market, while also preparing them for the fossil-free future. As the majority of fleet operators plan to transition to petrol-free vehicles, fuel card issuers need to adapt to these changing market dynamics. By providing flexibility, security, and convenience, the new card intends to meet the evolving demands of fleet operators. Moreover, the certification allows Enfuce to help customers in simplifying fleet management and consolidate security measures through comprehensive data tracking to decrease fraudulent activities. Enfuce and Visa’s joint effort is to introduce solutions that cater to the changing needs of the modern mobility ecosystem.

Representatives from Visa stated that the expansion of access to financial tools and services is at the core of the company’s objective. The collaboration aligns with Enfuce’s commitment to introducing improved initiatives in the payment landscape. In addition to launching the Visa Fleet 2.0 solution, Enfuce also introduced payment processing to the public cloud and promoted the adoption of Apple Pay in Finland.

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Keywords: partnership, corporate card, digital wallet, fraud prevention, payments
Categories: Payments & Commerce
Companies: Enfuce, Visa
Countries: Europe
This article is part of category

Payments & Commerce




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