Finnish fintech Enfuce has partnered with Visa to launch a programme that will enable European fintechs to issue their own payment cards in eight weeks, rather than months.
The new service is a fully turnkey card issuing service including key enablers such as BIN sponsorship, card scheme integration, fraud prevention and dispute management.
As well as speeding up the time it takes for fintechs to issue cards, the services will also enable their customers to start paying instantly from applying for their cards.
Enfuce said that Visa will power the programme with tokenized multi-currency BINs, which enables Enfuce customers across Europe to launch and scale pre-paid and debit card products for both business and consumer customers.
Denise Johansson, COO and co-founder of Enfuce, said: “Enabling card issuing for non-licensed fintechs in only eight weeks is groundbreaking.
“This opens new opportunities for them to offer a more seamless, fun, effortless and most of all secure customer experience in a scalable way.”
Founded in 2016, Enfuce is a card issuer and cloud-based payments processing solution for fintechs, banks and merchants.
Enfuce and Visa began their partnership in November 2020 when Visa selected the fintech to participate in its Fintech Fast Track programme.
Johansson added: “Collaboration is the key to success, and having Visa on board with us on this amazing offering is proof of great partnership between an industry giant and a startup.”
Helene Podsadni Nilsson, head of fintechs Nordics and Baltics at Visa, added: “Collaborating with an enablement partner like Enfuce makes it possible for the fintechs to build and launch their products effectively on Visa network, and help them grow and scale their business in record time.”