Enfuce to launch dual-function E2 card in UK, France and Germany with Mastercard
Finnish issuer processor Enfuce has partnered with Mastercard to expand its E2 card offering to card issuers in Germany, France, and the UK. For the latter market, the offering is “the first ever” of its kind, according to the vendor.
Enfuce expands E2 card with Mastercard
The offering combines both debit and credit primary account numbers (PANs) into one card, enabling cardholders to switch between accounts at the point of sale.
This is supported by the ability to set payment preferences for spending, and create individual designs for each PAN when stored in a digital wallet.
The offering can be leveraged by card issuers to create customised card products, limits and controls, a feature Enfuce says will “increase cardholder loyalty” among its customers by enabling them to align with “changing consumer spending preferences”.
E2 is already live in the Nordics where, as Enfuce co-founder and co-CEO Denise Johansson claims, it has become “an industry norm”.
Johansson adds that the offering answers “a clear gap in the market for both banks and consumers” and, when live, will provide “an added boost to the rich fintech ecosystem in the UK, France, and Germany”.
Monika Liikamaa, Enfuce’s other co-founder and co-CEO, describes E2 as “Enfuce’s trusted card programme expertise squared” and says the intended expansion of the card “is another step in our journey to deliver our commitment to bring Nordic innovation to the rest of the world”.
The fintech’s ambitions for international expansion were further bolstered in February this year when it was granted an Electronic Money Institution (EMI) licence from the UK’s Financial Conduct Authority (FCA).
In conjunction with the licencing, former Revolut COO Laurence Krieger was appointed to Enfuce’s UK board of directors as chairman.
