Enfuce and YAY Launch Iceland’s Newest Open-Loop E-Gift Card – Redefining the Country’s Gift-Giving Experience
Enfuce, the leading innovator in cloud-based payment solutions, has partnered with YAY to launch Iceland’s newest open-loop virtual gift card, giving recipients more flexibility to gift with the gift card that keeps on giving.
Unlike traditional closed-loop cards, which require more effort to set up, the new YAY gift card offers recipients greater freedom, allowing them to shop at a wide range of retailers—from popular chains to local boutiques—both in-store and online. Participating stores can be easily managed by YAY whitelisting selected merchants through YAY’s authorisation control feature. This added layer of flexibility is key for the gift card market going forward, enabling individuals and businesses to offer a more personalised and adaptable gift-giving experience.
The new open-loop virtual YAY card brings a host of benefits to businesses. By signing up to the YAY network, merchants can participate in a gift card scheme that they might not otherwise have the capacity to implement, particularly when it comes to smaller retailers. All the gift-giver needs to do is choose the desired amount, and the lucky receiver can add the virtual gift card to their phone, Apple Pay, or Google Pay wallet. The YAY card can also be reloaded with funds as many times as the gift-giver desires, providing endless opportunities for thoughtful gifting.
By transforming the traditionally structured gift card into a truly seamless payment solution, the new open-loop YAY card caters to the needs of both the giver and the recipient. It not only vastly simplifies the gift-giving experience, but allows enough flexibility to fit the needs of the modern consumer.
This open-loop gift card offers robust security features while minimising technical hurdles for onboarding new merchants. This streamlined, secure approach means that both consumers and retailers can benefit from a frictionless and safe experience, making it easier than ever to redeem gifts and support local businesses.
“Enfuce has been an incredible partner throughout this journey. Their ability to combine technical innovation with a personal touch has made this collaboration seamless and impactful. They’re always open to discussions, actively listening to our needs, and delivering tailored solutions that exceed expectations.”
– Ari Steinarsson, CEO and Co-founder, YAY
With the YAY partnership, Enfuce is adding a new level of ease to the gifting experience, offering an agile, sophisticated solution that meets the demands of today’s consumers. It also demonstrates Enfuce’s commitment to its Nordic roots, supporting a growing and diversifying business ecosystem in Iceland, and championing local businesses by expanding the gift card landscape to their storefront.
Eric Sundberg, Customer Success Manager at Enfuce, says: “In a busy and competitive market, the companies we work with are constantly looking for ways to stay ahead of the curve. Our first gift card partnership with YAY, enables us to allow them to offer an exciting innovation for customers in Iceland, and power modern, flexible shopping experiences. It’s an exciting step forward in our commitment to developing tailored payment solutions that empower both businesses and consumers with greater choice and convenience.”
Ari Steinarsson, CEO and Co-founder at YAY says: “Enfuce has been an incredible partner throughout this journey. Their ability to combine technical innovation with a personal touch has made this collaboration seamless and impactful. They’re always open to discussions, actively listening to our needs, and delivering tailored solutions that exceed expectations.”
