As part of its Card as a Service, Enfuce is introducing MyCard, „a physical card product that enables European fintechs to launch their own payment card cost-effectively in as little as two to four weeks”, according to the press release.
„For fintechs, this would save months of work from planning, design and card manufacturer integration and speed up go-to-market,” the company explains.
Physical cards remain the number-one payment method in Europe, even as virtual cards and digital wallet payments grow in popularity. Over 600 million physical cards are issued in Europe annually, making them a big source of plastic waste. As demand for physical cards will continue, there’s a need for more sustainable card options.
„Enfuce’s Card as a Service is a turnkey card issuing service that covers everything from BIN sponsorship and card scheme integration to compliance, fraud prevention and dispute management,” .
“Thanks to Enfuce MyCard, fintechs can launch winning payment card products with lower risk and capital but also easier and faster than before. MyCard is the first of our 2022 initiatives for accelerating our customers’ time to market, and more will follow.” – Venla Pouru, Enfuce’s Executive Vice President of Strategy and Product.
MyCard offers industry-leading speed to market through Enfuce’s pre-approved design guidelines, pre-made cards and fast delivery across Europe. Customers can define their desired look and feel for the cards, but a design project is not needed. With MyCard, physical cards can be in the hands of cardholders across Europe within the timeline of an initial Card as a Service implementation.
MyCard has a transparent and fintech-friendly per-card pricing model, which remains cost-efficient even for smaller batch sizes. MyCard is first launching with Visa*, with the addition of Mastercard later in spring 2022.
MyCard is launching with a wide selection of sustainable card materials to choose from, including recycled PVC, PETG or sea plastics (collected from ocean and coastal regions), and fully renewable materials like corn starch or wood.
“With MyCard, customers will get the benefits of scalable, modern production service with a large variety of personalisation options, from card face to packaging and shipping. Design services help customers to get the products out fast.” – Markus Melin, Enfuce’s COO.
___________
Enfuce offers payment, open banking and sustainability services to banks, fintechs, financial operators, and merchants. Founded in Finland, Enfuce recently expanded its geographic presence in Germany and France and has over 16 million active card users on their platform from whom Enfuce processes close to €1 billion transactions annually.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
