Enfuce, SEB Embedded, and Humla launch co-branded payment card for Hemköp to transform supermarket shopping experience in Sweden
Helsinki, London, 17 December 2024 – Enfuce, card issuing and processing innovator, has partnered with SEB Embedded, a leading Banking-as-a-Service (BaaS)provider in Sweden, who in partnership with Humla have launched a game-changing co-branded card to Hemköp, one of Sweden’s largest, premiere supermarket chains. This launch marks the first live product from the partnership and signals the beginning of a new era for embedded finance within Sweden’s food retail sector, setting the stage for future innovations.
The new Hemköp Matkonto card, now live and available to customers, is a next-generation payment solution that combines the convenience of everyday grocery shopping with the power of innovative technology. Powered by Enfuce’s cutting-edge cloud infrastructure, the card offers customers a seamless digital experience to manage their grocery budgets, track spending, and earn 25% more membership points when shopping at Hemköp, both in-store and online.
As more consumers seek smarter, integrated ways to manage their budgets, this partnership between Enfuce, SEB Embedded, and Humla for the Hemköp card is a clear example of how fintech and retail are converging to offer solutions that meet the needs of today’s tech-savvy consumer. The Hemköp Matkonto card is at the forefront of this shift, demonstrating how financial services can be effortlessly embedded into existing retail ecosystems to deliver personalised, frictionless experiences. By leveraging Enfuce’s modular payments platform and SEB Embedded’s BaaS offering, this card is set to revolutionise the way Swedish consumers manage their grocery spending, ensuring it is scalable, secure, and set for future expansion.
Denise Johansson, Co-Founder & Co-CEO of Enfuce, comments: “Embedded finance is all about creating frictionless, customer-centric solutions that align with consumer needs—and the Hemköp Matkonto card does just that. Our partnership with SEB Embedded allows us to bring next level, streamlined, and intuitive payment experiences to life while ensuring scalability for future growth. It is a game-changer for Swedish businesses looking to offer financial services without the heavy lifting typically required.
Monika Liikamaa, Co-Founder & Co-CEO of Enfuce, comments: “Launching the Hemköp Matkonto card is a pivotal moment for Enfuce, marking the first live product in our partnership with SEB Embedded and first co-branded card with Humla. By combining Enfuce’s advanced payment platform with SEB’s robust BaaS capabilities, we’re giving Swedish consumers a solution that allows them to manage their budgets efficiently, track spending, and access rewards.”
Emelie Eriksson, Head of SEB Embedded, comments: “The launch of Hemköp Matkonto marks a significant milestone as our first live product in partnership with Enfuce and Humla. It is a key step towards delivering seamless, customer-centric financial solutions that meet our clients’ needs and empower them to better serve their customers. With more products set for delivery we look forward to bringing banking to where it is needed, setting an example for Swedish consumers by making financial services easy and more accessible at the point of need.”
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 €68.5 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 SEB Embedded
Part of the Swedish bank SEB, SEB Embedded is a business unit born out of the independent innovation studio SEBx. SEB Embedded is dedicated to help companies bank under their brand. By combining the strengths of the SEB Group – including its license, capital, funding, industry expertise, and more – with a modern, cloud-native banking platform designed to seamlessly connect with the outside world, SEB Embedded empowers its customers to design, embed and innovate with a full range of financial services products without becoming a bank.
