Enfuce joins forces with Transact Payments to strengthen BIN Sponsorship capabilities
July 29, 2020 4 minutes read
Enfuce, Finland’s largest fintech startup, has appointed Transact Payments (TPL) – the experts in cards and payments – as its preferred prepaid BIN Sponsorship partner in Europe. The partnership allows Enfuce’s customers who don’t have an issuing license to quickly and securely launch prepaid card products across Europe.
Nordics-based Enfuce provides payments processing and card issuing services. A key element of its card-as-a-service offering is to simplify issuing and enable customers to easily scale card issuance into new countries. To enhance these capabilities, Enfuce partnered up with a BIN Sponsorship provider with a strong compliance track record and a wide geographical reach.
In collaboration with Transact Payments, Enfuce can offer fully compliant BIN Sponsorship across Europe. This allows Enfuce’s bank, fintech and merchant customers to run secure card payments without having to join a card scheme directly, which is a time and resource consuming process.
“Transact Payments is an ideal partner for ensuring that our non-licensed customers achieve compliant card issuing. TPL brings unparalleled industry expertise, in addition to sharing our core values of compliance, collaboration and speed-to-market. Together, we can help our customers grow and provide payment solutions that match their fast-evolving needs” says Denise Johansson, CEO and Co-Founder at Enfuce.
Relying on Transact Payments’ status as an e-money institution, Enfuce can launch physical and virtual prepaid card programs in 23 European countries and in 16 different currencies.
Noel Smith, Sales Director at Transact Payments explains: “Enfuce is already one to watch in the fintech space and, through our shared ethos of agility and responsiveness, customers will benefit from a more streamlined and speedier full payments solution. TPL brings to the table a robust track record and team with over 20 years’ experience in our field, and we’re excited to expand our service with a partner already making headway in the Nordics.”
“By joining our visionary teams together we are making complex items easy for our customers. They can run safe and future-proof prepaid card payments across Europe – without hassle, whilst maintaining full focus on their core business,” Denise Johansson adds.
The two partners will collaborate closely to provide seamless BIN Sponsorship services tailored to each customer’s individual needs. The partnership will further bolster Enfuce’s turnkey Payment Services offering, which, besides BIN Sponsorship, enables customers to launch debit and credit cards, fleet cards, gift cards, tokenized payments etc.
Enfuce offers payment, open banking and sustainability services to banks, fintechs, financial operators, and merchants. By combining industry expertise, compliance and innovative technology, they are delivering long term and scalable solutions fast and securely. Established in 2016, Enfuce employs over 50 driven professionals in the Nordics and has close to 10 million end-users on their platform. www.enfuce.com
About Transact Payments
At Transact Payments, we have built a reputation as the experts in payment and card solutions. We provide innovative and flexible UK, European, EEA BIN sponsorship and modular payment, debit, credit and prepaid services. We are licensed European e-money institutions, regulated by the Gibraltar Financial Services Commission, Malta Financial Services Authority, and Principal Members of both Mastercard and Visa. www.transactpaymentsltd.com