Flexible cards meet the demands for both consumer and corporate customers.
Serve all your B2B and B2C customers without compromising their unique needs.
The difference between a good and truly outstanding payment card experience is in the details. The basic needs for flexibility, reliability, security, and a smooth user experience are the same for both B2B and B2C cards. However, there are many differences in compliance requirements and legislation, oversight needs, payment volumes, and more. When a one-size-fits-all card solution won’t do, Enfuce is there to make sure you get the details right.
All cards need…
- Flexible configuration
- Reliable performance
- Security at every step of the card lifecycle
- Ease of use for both the issuer and cardholders
Additionally, corporate cards…
- Have different legislation and scheme requirements
- Often process higher volumes
- Need more control and oversight
- Have special invoicing and accounting needs
Maximise benefits through legislation and schemes
Consumers are well-protected by law, and their cards are regulated through scheme rules, strict dispute resolution processes, and the GDPR, for instance. Corporate cards, on the other hand, have very different rules and opportunities. They create a higher interchange income which impacts the setup with card schemes, and the fee charges vary significantly from consumer cards.
Enfuce is an expert in both types of cards and will help you maximise business benefits while being fully compliant and aware of all best practices. We offer shared BIN sponsorship options for both consumer and corporate card programmes.
Design the card programme for the end-users’ experience
Corporate and consumer cardholders have very different needs. For example, corporate cards can be assigned to non-person subjects, like vehicles, whereas consumer cards are always held by people. Consumer cards are a tool for the cardholder to manage and regulate their funds, keep tabs on their budget, and borrow more through credit if needed.
Corporate cards, on the other hand, are used to make necessary purchases smoother and streamline reporting. The end-user rarely worries about whether the associated account has money. Credit cards are not used because the company is out of cash, but because credit is perceived as more flexible. That’s why charge cards are more interesting to B2B customers whereas consumers want the flexibility of minimum pay and instalment possibilities.
Webinar: What two visionary leaders wish they knew before transforming their payment business
Join our webinar on 30 March at 10:00 CEST, where Monika Liikamaa (Co-CEO and Co-Founder at Enfuce) and Filippa Jennersjö (CIO/CDO at OKQ8) share their do’s and don’ts on starting your payments modernisation journey.
Ensure security and full control for centrally managed card programmes
Unlike consumer cards, corporate card programmes are not managed by an end-user. Instead, they are centrally managed, which is why they often require integrations for accounting tools and need to support financial processes automation. Additionally, B2B cards require a shared account where different cardholders draw funds. We enable this by offering an account hierarchy and allow multiple cardholders per account.
Corporate cards require different spend controls than consumer cards because they have different spending patterns. Consumers opt for spend controls because they want to feel secure that their money won’t be stolen. B2B card issuers want to enhance their control over card use by blocking cash withdrawals or only allowing airline and hotel payments, for instance.
Liability is also managed in a unique way for both consumer and corporate cards. In consumer credit cards, the cardholder is liable for the credit debt. In corporate accounts, you want to differentiate the liable entity from the cardholder so that liability does not fall on a specific employee but the company. This way corporate credit cards don’t impact an individual’s credit score, for example.
Use cases for different corporate and consumer cards
Corporate fuel cards are designed to support the needs of fleets with account hierarchy and company specific pricing. The cards can be assigned to vehicles as well as individuals.
Expense management cards are often characterised by multiple cards per account, the possibility to control the spend on the admin level, and adding an integration to an accounting system.
Consumer debit cards need an integration to core banking systems, spend controls to increase cardholder’s sense of security, and APIs to support great customer experience in banking apps.
With Enfuce, you issue payment cards that are…
Choose features and services from our modular offering and design a payment card product to fit your exact needs.
Access a cloud-based platform with capacity to scale globally across multiple currencies and regions without scaling costs.
Secure and compliant
Benefit from 99.99% uptime, 24/7 fraud monitoring, dispute management, and PCI-DSS, GDPR and PSD2 compliance.