Enfuce is one of the most promising card-issuing platforms in Europe. Founded in Finland, it delivers embedded payments, white-label card issuing, and compliance infrastructure to fintechs, banks, and corporates — all via API. With an EMI license and PCI DSS Level 1 certification, Enfuce helps partners launch branded Visa or Mastercard programs across the EEA in a matter of weeks.
We spoke with Monika Liikamaa, Enfuce’s Co-CEO, to discuss how the company is redefining card programs, enabling sustainability-linked fintech use cases, and expanding rapidly beyond the Nordics.
Who is Monika Liikamaa?
Monika Liikamaa is one of Europe’s most respected fintech founders. With decades of experience in core banking and payments, she co-founded Enfuce in 2016 to modernize issuer processing and enable scalable, secure, cloud-based card issuing — far ahead of the trend. Today, she leads the company alongside co-founder Denise Johansson.
Interview
What is Enfuce in one sentence?
We are a card-issuing and embedded finance company that helps platforms, fintechs, and corporates issue branded payment cards — quickly, securely, and compliantly.
What specific need does Enfuce meet?
We make it simple for non-banks to offer card programs with real-time controls, spend management, and scalable infrastructure — all with regulatory compliance built-in.
What types of cards do you issue?
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Physical and virtual cards
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Prepaid, debit, and credit
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Single-use or dynamic cards
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Branded Mastercard and Visa
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Tokenized cards for Apple Pay/Google Pay
Who are your typical customers?
Fintechs, neobanks, corporates (e.g. travel, logistics), expense platforms, sustainability-focused startups, and retailers launching loyalty cards.
What countries do you serve?
We serve clients across the entire EEA, with passported EMI permissions and processing infrastructure hosted in Finland, Sweden, and Germany.
How long does it take to launch a card program?
Typically between 6 to 10 weeks — including BIN sponsorship, compliance setup, and full program management.
Do you offer white-label BINs?
Yes. Enfuce provides BIN sponsorship and scheme connectivity under our EMI license, including fraud management and clearing.
What makes you different from Marqeta or Solaris?
We focus on end-to-end compliance and delivery. Unlike some players, we manage the card program holistically — including onboarding, KYC, transaction monitoring, and settlement.
Do you provide IBANs or SEPA payments?
Our core strength is card issuing, not IBANs. However, we partner with EMI/BaaS providers to embed cards into wider financial flows.
What’s your approach to compliance?
Enfuce is PCI DSS Level 1, GDPR-compliant, and supports real-time fraud prevention. We also conduct regular audits and partner KYC reviews.
Are you focused only on Europe?
For now, yes. We are EEA-licensed, but our infrastructure is ready for global expansion, especially in Latin America and Asia-Pacific.
What sustainability features do you offer?
We offer CO₂-linked card programs that track and offset carbon emissions based on spending patterns — a unique feature for climate-conscious brands.
What KPIs matter most to you?
Time-to-market, cardholder activation rate, fraud ratio, and partner satisfaction. We also track uptime and settlement accuracy.
Do you support crypto platforms?
Yes, but only regulated entities. We enable crypto-to-fiat card programs via selected banking partners.
Is Enfuce profitable?
We’re on a solid path. We generate revenue through SaaS fees, interchange revenue sharing, and value-added compliance services.
Do you support commercial or corporate cards?
Yes. We enable corporate expense cards, spend controls, and smart analytics — tailored for B2B clients.
Are your APIs public?
Yes. We provide full developer docs, sandbox environments, and integration support.
Any major partnerships you can mention?
We’ve partnered with companies like Pleo, Qred, and Rabobank’s innovation arm. More soon.
What’s next for 2025?
We’re launching AI-powered risk scoring, multi-currency cards, and expanding our wallet-as-a-service platform.
What’s your long-term vision for Enfuce?
To be Europe’s leading card infrastructure provider, combining security, compliance, and purpose-driven finance.
Related Searches
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Enfuce card issuing platform
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Mastercard issuing EMI Europe
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Embedded finance Nordic fintech
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Enfuce vs Marqeta
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PCI DSS Level 1 issuer processor
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Sustainability card fintech
FAQ
Is Enfuce a bank?
No, Enfuce is a licensed EMI and PCI DSS Level 1 processor — not a deposit-taking bank.
Can we launch cards under our brand?
Yes. All cards are branded and fully managed under your company’s identity.
How does settlement work?
We provide clearing, settlement, and reconciliation tools as part of the service stack.
Can we use our own KYC provider?
Yes, with appropriate compliance reviews. We also offer embedded onboarding.
Is it possible to link Enfuce cards to wallets?
Yes. Apple Pay, Google Pay, and Samsung Pay are supported natively.
Company Services
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BIN sponsorship & card issuing
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White-label card programs
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Compliance & fraud prevention
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Real-time spend controls
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CO₂-linked sustainability cards
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Corporate & loyalty card management
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API & dashboard access
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Scheme settlement & reporting
Competitors
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Marqeta – Strong in US, slower EEA penetration
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Solaris – Broader scope, but less card-first
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Treezor – Good issuing options but mostly France-focused
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Bankable – Modular platform, but limited scheme controls
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M2P Fintech – Strong in APAC, not EEA
Product Positioning
Enfuce positions itself as:
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The leading issuer processor in the Nordics
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Compliant, scalable, and partner-driven
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Specialized in card-first infrastructure
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Ideal for fintechs, corporates, and retailers
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A modular, developer-friendly EMI-backed solution
