Enfuce partners with SEB Embedded

Tuesday 6 June 2023 08:01 CET | News

Card issuing and processing company Enfuce has partnered with Sweden-based BaaS disruptor SEB Embedded to launch card programmes for the latter’s customers.

The virtual and physical card programmes will be developed by Enfuce’s cloud-based issuer processor platform. The companies aim to improve and strengthen SEB Embedded’s suite of Banking-as-a-Service capabilities with card tools and solutions that will offer full regulatory compliance, as well as a seamless and secure onboarding process to its customers. 

The customisable and seamless tech stack of Enfuce, as well as its easily integrated APIs, are set to be made available through SEB Embedded’s platform. Furthermore, SEB Embedded will be allowed to provide its clients with a range of value-added products and services, including authorisation controls, the ability for customers to set and view their PINs, as well as its exchange rate API. 

By adding CaaS and other financial services to their value propositions, the companies will focus on giving users the possibility to have new revenue opportunities and to try new ways of expanding their client bases. 

Card issuing and processing company Enfuce has partnered with Sweden-based BaaS disruptor SEB Embedded to launch card programmes for the latter’s customers.

Enfuce’s strategy of development

Finland-based fintech company Enfuce is a globally scalable processor of card solutions that provides its users with multiple services and solutions. The firm had several partnerships and product launches in the last couple of months, covering many geographic areas around the globe. 

In March 2023, the company partnered with neobanking startup Science Card to launch payment cards that were set to be part of an infrastructure for funding scientific research. The announcement offered details on Science Card’s strategy and the way customers had the possibility to contribute to the plan, as part of the company’s revenues were redirected into scientific R&D. Moreover, users were given access to the Science Card’s funding infrastructure and its payments application, which allowed them to explore and independently fund scientific research plans. The card proposition was enabled by Enfuce’s cloud-powered Card-as-a-Service platform. 

Earlier in February 2023, the company signed a strategic contract with the State Treasury of Finland and Kela in order to deliver a prepaid disbursement card service, as a payment alternative for the account payments. The press release published at the time detailed that following an official tender procedure for the procurement of prepaid payment card solutions, the State Treasury of Finland and the Social Insurance Institution of Finland (Kela) have decided on a five-year contract with Enfuce. 

The prepaid disbursement card tool was set to offer the institutions secure, efficient, and easy-to-use prepaid payment products, which would be leveraged in situations where account payments can’t be used. 

Enfuce collaborated with disruptive ecommerce aggregator startup Starcart in the same month, in order to provide its retailers and merchants with embedded virtual card payments. The partnership aimed to improve the way in which customers shopped online, offering them secure and efficient payment methods. The card services were designed by combining Enfuce’s embedded payment offerings with Startcart’s business model. 

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Keywords: partnership, product launch, mobile payments, online payments, digital payments, card, financial services
Categories: Payments & Commerce
Companies: Enfuce, SEB Embedded
Countries: Sweden
This article is part of category

Payments & Commerce



SEB Embedded

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