Enfuce has announced a partnership with Síminn Pay, a fintech company owned by Síminn, Iceland's largest telecoms provider, to launch a new virtual business card programme for Síminn Pay, equipped with a CO2 calculator powered by Deedster, a climate action platform, to help its business customers reduce their carbon footprint.

This follows a series of strategic partnerships announced by Enfuce, including the launch of an innovative all-in-one employee benefits card with French work tech unicorn Swile and the modernisation of UK public sector payments with allpay, a leader in payment services for the public and social housing sectors, demonstrating Enfuce's strong momentum in Europe.

A major shift in the payments industry

Traditionally, consumers and businesses have been largely unaware of the environmental costs of financial transactions. However, following this initiative by Enfuce and Síminn Pay, businesses now have real-time visibility of the carbon footprint associated with their purchases, giving them the ability to make data-driven decisions that minimise their environmental impact.

Síminn Pay has approximately 14,000 business customers in Iceland and through this new partnership, Síminn Pay will introduce a commercial card solution that will provide Síminn Pay's customers with an easy onboarding process and accessible credit limits. Sponsored by Enfuce, the new Open Circle MasterCard credit card is a virtual card compatible with Apple Pay and Google Pay.

Although the programme is new, the partnership between Enfuce and Síminn Pay has been successful. Since November 2022, Enfuce has issued 8,000 consumer credit cards for Síminn Pay, enabling its users to make seamless payments.

A new standard for sustainability

In 2023, Síminn Pay is the first customer for which Enfuce is implementing CO2 calculations in partnership with Deedster, a climate action platform. enfuce will provide Síminn Pay with authorisation and transaction data related to purchases, which Deedster will use to calculate the carbon footprint of Síminn Pay's customers' transactions, enabling Síminn Pay's customers to understand the carbon footprint of their business activities and incorporate actionable insights into their own ESG reporting to facilitate more sustainable business decisions.

Businesses are increasingly under pressure from stakeholders and consumers to adopt sustainable practices. This card programme provides a valuable tool for businesses to demonstrate their commitment to ESG principles. Carbon footprint transparency allows companies to not only track progress towards their sustainability goals, but also to effectively communicate their efforts.

The new partnership is just one example of Enfuce's pioneering commitment to ESG in the payments sector and beyond. By partnering with Deedster, Enfuce is demonstrating what it means to practice ESG through impactful initiatives that help card users minimise their carbon footprint, and how sustainability can be integrated into the fabric of a business.

Monika Liikamaa, Co-Founder and Co-CEO of Enfuce, said: "We are delighted to enter into a long-term partnership with Síminn Pay, a company that shares our Nordic values and commitment to sustainability. This partnership is a testament to our shared vision of creating a more environmentally responsible future and setting new standards in the fintech and telecoms industries.

Denise Johansson, Co-Founder and Co-CEO of Enfuce, says: "At Enfuce, rich collaboration is at the heart of what we do, and our work with Síminn Pay and Deedster is a perfect example of how we strive to create value in our work. By bringing together Síminn Pay, Deedster and Enfuce, we are not only introducing state-of-the-art financial tools to Icelandic businesses, but also giving them the ability to make a positive impact on the environment".

Gunnar Hafsteinsson, Managing Director of Síminn Pay, says: "Our partnership with Enfuce has introduced an innovative commercial card solution and by integrating Deedster's CO2 calculator, we have strengthened our commitment to sustainability and increased the value we offer to our customers. This new solution not only expands our financial services, but also enhances our customers' ability to make environmentally friendly decisions."