Enfuce expands Card-as-a-Service platform in the Nordics with Mastercard

European payments processor Enfuce has expanded its Card-as-a-Service (CaaS) platform in the Nordics through an extension of its existing partnership with Mastercard.

Mastercard will power Enfuce’s CaaS offering with tokenised multi-currency BINs in the Nordics, meaning that Enfuce’s customers will be able to launch and issue their own physical and virtual Mastercard payment cards in a matter of weeks, as opposed to months.

Specifically, the enhanced partnership means Enfuce’s customers can issue and scale Mastercard prepaid and debit card products for both businesses and consumers in certain Nordic countries.

“We are proud to expand our partnership with a successful fintech company like Enfuce and excited to have a local partner in the Nordics providing card-as-a-service, enabling fintechs to launch Mastercard cards in just weeks,” said Johan Modenius, head of financial institutions, Nordics and Baltics, at Mastercard. 

Enfuce card-as-a-service is a turnkey card issuing service that includes BIN sponsorship, program management, card life cycle management, and fraud and dispute management.

The platform enables fintechs to design and launch customisable payment cards that support digital payment features, such as Apple Pay, Google Pay and Samsung Pay.

Denise Johansson, co-CEO and co-founder of Enfuce (pictured on the left in main image), added: “This enhanced partnership is a result of our great collaboration over the span of many years.”

In 2018, Enfuce won the first Mastercard Lighthouse program, a partnership-based open innovation program in the Nordics and Baltics.

Last month, Enfuce brought its cloud-native CaaS platform to the UK, following its €45 million Series C funding round led by Vitruvian Partners at the end of 2021.