Issuer processing powerhouse Enfuce announced a groundbreaking partnership with Síminn Pay, the fintech arm of Síminn, the largest telecom service provider in Iceland. Enfuce is launching a new, virtual commercial card programme for Síminn Pay, equipped with a CO2 calculator by climate action platform Deedster, to help its commercial clients reduce their carbon footprints.
This announcement follows a series of strategic partnerships unveiled by Enfuce, including collaborations with French worktech unicornSwile in France to launch an innovative all-in-one employee benefits card, and allpay, the UK’s leader in payment services for the public and social housing sectors to modernise payments in the UK public sector, showcasing Enfuce’s strong growth across Europe.
This seemingly innocuous addition of a carbon footprint tracker signifies a potentially significant shift in the payments industry.
Traditionally, the environmental cost of financial transactions has remained largely invisible to consumers and businesses alike. With Enfuce and Síminn Pay's initiative, however, environmental impact is no longer relegated to the realm of afterthought. Businesses can now gain real-time insights into the carbon footprint associated with their purchases, empowering them to make data-driven decisions that minimize their environmental impact.
With this new partnership, Síminn Pay, with a substantial business client base of around 14,000 in Iceland, is introducing a commercial card solution that will provide an easy onboarding process and accessible credit lines for Síminn Pay’s customers. The new open loop Mastercard credit card, sponsored by Enfuce, is a virtual card compatible with Apple Pay and Google Pay.
While this programme is newly launched, the partnership between Enfuce and Síminn Pay has already proven successful. Since November 2022, Enfuce has issued 8,000 consumer credit cards for Síminn Pay, enabling its users to make seamless payments. The new commercial card programme strengthens this relationship, highlighting Síminn Pay’s confidence in Enfuce’s secure, scalable, and innovative card payment solutions that are modular as well as cloud-based.
This pioneering collaboration also sets a new standard for sustainability.
Síminn Pay is the first Enfuce customer to implement CO2 calculation with climate action platform Deedster, as part of a strategic alliance formed with Enfuce in 2023. Enfuce will provide Síminn Pay with authorization and transaction data related to purchases, which Deedster will use to calculate the carbon footprint of Síminn Pay’s clients' transactions. This innovative use of advanced analytics and reporting enables Síminn Pay’s clients to understand the carbon emissions of their business activities and incorporate actionable insights into their own ESG reporting, facilitating more sustainable business decisions.
The implications go beyond mere awareness. Businesses increasingly face pressure from stakeholders and consumers to embrace sustainable practices. This card program equips them with a valuable tool to demonstrate their commitment to ESG principles. Transparency around carbon footprint allows businesses to not only track progress towards sustainability goals but also communicate their efforts effectively.
The new partnership is just one example of Enfuce’s sector-leading commitment to levelling up ESG in the payments space and beyond. Through its partnership with Deedster, Enfuce is empowering card users to minimise their carbon footprints through impactful initiatives, demonstrating what it means to walk the walk when it comes to ESG and how to weave sustainability into the fabric of a business.
Monika Liikamaa, Co-Founder and Co-CEO of Enfuce says: "We’re thrilled to be levelling up our long-standing partnership with Síminn Pay, a company that shares our Nordic values and commitment to sustainability. This collaboration is a testament to our joint vision for a more environmentally responsible future and to setting new standards in the fintech and telecom industries.”
Denise Johansson, Co-Founder and Co-CEO of Enfuce says: “At Enfuce, rich collaborations are at the very heart of what we do, and our partnership with Síminn Pay and Deedster is a perfect example of the value we strive to create with our work. By bringing together Síminn Pay, Deedster and Enfuce we’re not only introducing cutting-edge financial tools for businesses in Iceland but also empowering them to make a positive impact on the environment.”
Gunnar Hafsteinsson, Managing Director of Síminn Pay says: “Our partnership with Enfuce introduces an innovative commercial card solution that significantly benefits our business clients. By integrating Deedster’s CO2 calculator, we are reinforcing our commitment to sustainability and enhancing the value we offer to our customers. This new programme not only expands our financial services but also empowers our clients to make environmentally conscious decisions. We look forward to seeing the positive impact this will have on our clients and the Icelandic business community.”
