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BIN sponsorship

Enfuce License Services (ELS) is the licensed Enfuce group entity offering BIN sponsorship and card issuance in the EEA area under our EMI authorisation from the FIN-FSA, passported to the EEA. We also offer issuing services in the UK, but utilise a third-party BIN sponsor in that area. ELS acts as an intermediary between your company and the card network and is responsible for other regulatory compliance. We are also responsible for the submission, approval and compliance of any of our programmes through the network.

Enfuce BIN sponsorship service includes both the necessary electronic money licence as well as card scheme membership.

Electronic money license for issuing cards

To be authorised to issue cards, and to hold and transfer cardholder funds, payment, and banking, an e-money institution license is required. Issuers of digital payment cards normally obtain an e-money license to issue and store electronic money. With this license, you can offer prepaid/debit cards and electronic wallets.

A non-regulated business will typically need a BIN sponsor to become a card issuer and we offer that service for you. Enfuce is an electronic money-licensed payment institution authorised and regulated by the Finnish Financial Supervisory Authority (FIN-FSA).

Card scheme membership (Visa, Mastercard)

To issue Visa-, or Mastercard-labelled cards, you need to have a card scheme membership or be sponsored by someone who is a member. The card scheme membership is a contract between the card scheme and the issuer where the issuer agrees to the terms and conditions set by the card scheme to issue cards as well as to pay fees for their services.

Principal membership for card schemes requires a payment institution or banking license as well as a certain level of collateral. Enfuce holds a principal membership status for both Visa and Mastercard. Through our services, our customers can have access to a BIN that enables them to provide cards to account holders.

We, as a BIN sponsor and card scheme Principal Member, manage reporting and settlement requirements. The accounts set up by a BIN sponsor include a prefund account, where the BIN sponsor holds customer funds as security to cover a certain number of days’ expected transactions.

The BIN sponsor is entitled to withdraw funds from the prefund account for the following purposes:

  • Paying liabilities and fees due to the card scheme (including settlement liabilities) for transactions.
  • Deducting payments for agreed card fees, if any.
  • Redeeming funds to account holders and/or cardholders when requested.

New BIN or migrating BIN

Whether you already have an existing card program or you want to start from scratch, we’ve got you covered. We’ll help you build your card program or migrate BINs from your existing payment processor or service provider under Enfuce License Services. The migration involves moving the BINs and associated cardholder accounts, transaction data, and processing capabilities from the existing system to a new system.

Key products

We offer BIN sponsorship services for debit, prepaid and credit card programs and support both consumer and corporate programs. We are regulated by the Finnish Financial Supervisory Authority and have passported our license to other EEA countries to offer our services in those countries.

Settlement only or Issuing & Settlement

We have different service models for those who hold an Electronic Money License and for those who don’t have it:

Issuing & settlement

If you don’t have an EMI license, the card for co-brand (customer) is issued under the Enfuce License Service license. Enfuce License Service is the licensee and numeric user of the BIN (scheme). In the case of tokenisation, Apple Pay and Google Pay contracts are with us. In this case, we also have to conduct a full program review.

Settlement only

In case a customer has their own electronic money license, Enfuce License Services can act as a Licensee only (scheme) and the customer is a numeric user for the scheme. In this case, the customer is the issuer themselves and in the case of tokensation, Apple Pay and Google Pay contracts are done by the customer. In settlement-only cases, Enfuce License Services must conduct a light program review.