Enfuce partners with Science Card

Tuesday 21 March 2023 13:59 CET | News

Finland-based fintech Enfuce has partnered with neobanking startup Science Card to launch a payments card that is part of an infrastructure for funding scientific research.


The announcement details that Science Card’s customers help drive real change with their day-to-day payment activity, as a part of the company’s revenues is redirected into scientific R&D. 

Furthermore, its customers are provided with access to its funding infrastructure and through the payments app, they can explore and independently fund vital scientific research at top British universities through a single click. As per the press release information, the card proposition is enabled by Enfuce’s cloud-powered Card-as-a-Service platform.

The payments card and what it means for scientific R&D

Enfuce is set to issue and process the Mastercard-branded card, which is going to be made available via Science Card’s app with Enfuce’s easily integrated API, looking to enable customers to top up their account with money and leverage it as their primary spending account. Supported by Enfuce’s extensive range of integrated services, which includes real-time transaction monitoring, spending controls, and customisable modules, Science Card also provides customers with a dynamic way for increasing scientific research funding with its ‘one-click’ research crowdfunding model.

Finland based fintech Enfuce has partnered with neobanking startup Science Card to launch a payments card that is part of an infrastructure for funding scientific research.

A UK-based company, Science Card is committed to leveraging the banking ecosystem towards driving sustainability, combatting climate change, creating better healthcare, improving access to education, and ‘super-charging’ scientific projects that are set to improve society. Being powered by Enfuce, Science Card allows for contributions of any size to be made to scientific research projects in a matter of minutes through its app, ensuring an expedited flow of funding to accelerate innovative R&D in the region, while also removing layers of philanthropic complexity, and decreasing the time from funding to the start of research from an approximate of 12 months to 5 minutes.

Furthermore, Science Card is set to redirect 10% of its profits to fund R&D projects at UK-based universities and will also provide users with the option of rounding up purchase amounts or carrying out one-off purchases to send them as microgrants to the project of their choice. Additionally, within the Science Card, users can view and select which university and scientific project would have microgrants sent to and see the company’s total funding for all projects.  When carrying out microgrants through Science Card, users can fund projects and interests close to them, become research patrons, make a direct contribution towards future innovation, and own a part of each project’s intellectual property.

Commenting on the announcement, Daniel Baeriswyl, Founder and CEO of Science Card advised that Science Card was founded to bring research closer to the source of money, adding that its mission is to combine a payment account with the ability to fund scientific research and that created a method to expedite innovation by diverting money to research projects in a more efficient and fast manner.

As per the press release information, Science Card’s launch is initially in the UK, with an estimated 30,000 customers and a goal of funding at least a scientific R&D project worth GBP 300,000 within the first year. The Science Card is set to be expanded within the EU and the US in the years to come through collaborations with top universities activating in these markets. Science Card estimates it will attract over two million customers by 2028 and generate scientific funding worth a minimum of GBP 100 million on a yearly basis.

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Keywords: partnership, payments , card scheme, neobanks, funding, crowdfunding, research, API, transactions , digital payments, one-click payments, payment methods, fintech, product launch
Categories: Payments & Commerce
Companies: Enfuce, Science Card
Countries: United Kingdom
This article is part of category

Payments & Commerce



Science Card

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