Enfuce enters Belgium and Luxembourg with Monizze to launch open-loop employee benefit cards

Launch marks Monizze’s transition to open-loop systems and Enfuce’s first live customers in Belgium and Luxembourg.

Helsinki, 2 December 2025 – Enfuce, Europe’s card issuing and processing powerhouse, has entered the Belgian and Luxembourg markets through a new partnership with Belgian fintech Monizze, member of the Up Group. 

Together, they have launched open-loop employee benefit cards in Luxembourg and are working on hybrid closed- and open-loop employee benefit cards in Belgium, marking a strategic shift for Monizze from closed-loop only to both closed- and open-loop infrastructure, and a key milestone for Enfuce’s rapid expansion across Europe and beyond.

The partnership represents a major market entry for Enfuce in the Benelux region, reinforcing its mission to modernise the employee benefits space with scalable, future-ready solutions. Powered by Enfuce’s modular platform, the new Monizze cards offer real-time spend controls, fraud protection, and digital wallet integration. For users, this means true freedom and convenience as benefits can be used seamlessly across a wide network of merchants, online and in-store.

For Monizze, this open-loop upgrade unlocks the capability to affiliate any merchant to the Employee Benefits program, offering a wider network to the users. For Enfuce, it demonstrates continued momentum in reshaping the European employee benefits space.

The launch follows a series of recent international rollouts by Enfuce, including market entries in Brazil (with Swile), Italy, and Germany. With Monizze, Enfuce continues to expand its footprint across key regions, bringing cutting-edge payment solutions to new markets at pace.

As open-loop solutions become mainstream in employee benefits, the Enfuce–Monizze collaboration signals a clear shift toward more intelligent, inclusive, and user-centric financial experiences across Europe.

Denise Johansson, Co-Founder & Co-CEO of Enfuce says: “Belgium and Luxembourg are important milestones in our European growth journey. This launch with Monizze gives us our first live customers in the Benelux region and proves how quickly our platform can stand up new markets end-to-end – from compliance and issuing to digital wallets – so our customers can scale across borders without rebuilding their infrastructure every time.”

Monika Liikamaa, Co-Founder & Co-CEO of Enfuce says: “With Monizze, we’re not just entering new markets, we’re helping redefine what modern employee benefits look like. By bringing our open-loop expertise to Luxembourg and Belgium, we’re enabling more flexible, inclusive and scalable benefit solutions that work for employers, merchants and, most importantly, employees themselves.”

Sébastien Couturiaux, CTIO of Monizze, says: “We chose Enfuce for their proven ability to deliver large-scale open-loop migrations with speed, precision and reliability. Their deep expertise in the employee benefits space, demonstrated through successful partnerships, gave us full confidence in their ability to support our ambitions. We’re excited to continue shaping the future of employee benefits together.”

About Enfuce

Founded in 2016, Enfuce is a female-founded and led company with a unique vision: to bring the brightest minds and the best technology together to break down the barriers to prosperity.

As a leading global card issuer and payment processor that merges innovation, security, and expertise to create modular, cloud-based payment processing capabilities, Enfuce is one of Finland’s most valuable scaleups, and is the first financial service provider in the world to be PCI-DSS certified while running its service in the public cloud.

By focusing on collaboration, Enfuce is able to efficiently provide customers with cutting edge features – offering in-house experts and white labelled technology to help companies create scalable payment solutions with ease. Supporting debit, credit, prepaid, gift, fleet and fuel card programmes in any form – for consumer, commercial and B2B applications – Enfuce’s no-nonsense approach helps customers create bespoke payment solutions that are flexible, scalable and secure.

Holding an Electronic Money Institution (EMI) licence from the Finnish FSA and from the UK’s Financial Conduct Authority (FCA), enabling operations across Europe and the UK, Enfuce’s PCI-DSS certified platform guarantees 99.999% uptime, global scalability, and card scheme connectivity, supporting various card programmes and integration with digital wallets. Enfuce has raised €73.5 million in funding rounds, showcasing its industry leadership with recognitions like Visa Fintech Fast Track and Mastercard Lighthouse Development Program participation, as well as winning prestigious awards, such as the 2019 PayTech Award for Best Payments Solution, 2022 FF Award for Mobile Payments and the 2023 FF Award for Authentic ESG. Propelled by the forward-looking vision of its Co-CEOs and Nordic ingenuity, Enfuce is set to expand globally, shaping the future of payment solutions.

About Monizze

Monizze is a Belgian fintech company offering 100% digital solutions in the HR and Payment Tech sectors. Beyond its original role as an issuer of digital vouchers (meal, eco, gift, and sport/culture vouchers), Monizze develops innovative tools that make employee benefits more accessible. Its solutions enable private and public organizations of all sizes to offer more flexible compensation options, including mobility budgets and cafeteria plans. Monizze simplifies and enhances the payroll and benefits experience for HR teams, business leaders, and employees alike. Recently, Monizze launched the solidarity voucher, allowing employees, with a defined budget, to shape the company’s giving by choosing the causes that matter to them. Monizze serves major companies such as Colruyt, KBC, Roularta Media Group, and Odoo, as well as thousands of SMEs, microbusinesses, and self-employed professionals.