Some things that are meant to go together: Introducing the 2-in-1 card for all your payments needs

Take a moment to check your wallet. How many cards are you carrying around? On average, people in Europe, carry around 2 cards each – with some of us having a few more – or fewer. But wouldn’t it be great though, if we could carry just one card with both credit and debit payment options?

Well, this idea is not a dream—it’s something that has been around for a long time in the Nordics as a ‘combination card,’ with clear benefits for both card issuers and customers. Despite its success there, it’s still relatively unknown across Europe or in the UK. That’s why we, at Enfuce, have decided to leverage our Nordic heritage and bring this innovative solution to the rest of Europe.

And, as a card issuer, why not offer this option to your customers who have both debit and credit cards? This can bring great benefits – it’s convenient and easy to use – plus, it’s saving the planet from more plastic! And, for your customers who take only a credit or debit product from you, ask them if they believe some things are just meant to go together – would they like to prune purse or wallet and flex one card to serve both debit and credit transactions?

Or if you’d like to attract new customers who might want both from you, why not keep it simple by combining a debit and credit card into one physical card? Just as a digital wallet enables customers to pick which card to use at a point of sale, so does a Dual PAN card in the physical world.

Easy, flexible, and inclusive—for your customers and for you too

There will be no more need for you to issue two cards for one person. With this 2-in-1 card, you can offer a hassle-free experience. Your customers will love the convenience of carrying just one card instead of two—and let’s be honest, who wouldn’t appreciate having just one less PIN to remember?

And here’s the big plus: if your customer doesn’t have enough balance in their debit account, they don’t have to worry about going into overdraft and suffering the costs of doing so. With this card they can easily switch to credit payment​ – right at the point of sale – giving them more flexibility and control over their spending. Just as with digital wallets, where customers can pick the card they want to use at the time of purchasing, you’ll be offering a more inclusive experience that meets your customers’ needs, all with the convenience they’re looking for.

What’s in it for you? As a card issuer you can cut your administration time and costs and at the same time be more sustainable.

Keep everything extra secure and compliant

By offering one card instead of two, you’re not just simplifying things—you’re boosting payment security for your customers. For instance, when making a high-end purchase, they can easily switch to credit, ensuring the transaction is protected​.

Customers can easily toggle between both cards, since both appear at the point of sale and they can simply choose the one to use, depending on what they need at that moment. And for more peace of mind, advanced spend controls at cardholder and product level can be added to both cards, providing an extra layer of fraud prevention​.

Boost your revenues

​Let’s not forget. ​By giving customers the ability to easily switch between debit and credit at the point of sale, you’ll be increasing their likelihood of using your cards, raising your revenue opportunities and increasing brand loyalty.

Offer solutions that match what your customers need

​As consumer payment habits continue to change, issuers need to adapt by offering a variety of payment options and continuing to innovate. According to a PWC report, over the last decade there has been a big shift in how people want to pay: physical cards, mobile payments (like Apple and Google Pay), click and collect, and eCommerce are increasingly popular, while cash usage continues to decline.

Visa research also shows a surge in the use of mobile wallets, with 45% of Gen Z and 32% of Millennials taking the lead in mobile wallet usage in 2020, compared to 28% of Gen X and 20% of Baby Boomers. However, the research notes that over the past couple of years, the landscape has rapidly transformed, with Gen X and Baby Boomers catching up.

The study also explores why some people are still hesitant about digital wallets, highlighting concerns around safety and security. The main issues cited by those who aren’t using digital wallets are:

• Hacked payment details: 28%
• Phone loss leading to fraud: 27%
• Security: 23%

So, while purchasing habits are always evolving, for some time, we can expect a mix of payment preferences to exist among consumers. For instance, someone without a smartphone might rely entirely on physical cards, while another person might choose between digital wallets and cards depending on where they are or what the merchant accepts. There are also folks who have used digital wallets but find themselves carrying a physical card when their phone’s battery is low or they’re in an area with poor data or Wi-Fi. And of course, some people are sticking with digital payments exclusively.

According to Juniper’s Credit Card Strategies Report, despite the shift in digital-first approaches, “physical credit cards are adapting rather than disappearing. Through the integration of advanced technologies, enhanced security features, sustainability efforts, and personalization, physical cards are set to remain a vital part of the payments ecosystem for the foreseeable future.”

So, how can card issuers stay ahead? By offering flexibility and catering to diverse preferences—from those moving towards digital but still holding onto their physical cards, to those who prefer to stay physical-only.

With Enfuce’s E2 Dual PAN card, you can provide a single card that functions as both a debit and credit card, all with one PIN. It’s a smart way to give your customers the flexibility they want and simplify their payment experience.

Curious to know more about E2 and explore our range of digital-first card options? Find out more here.