Finnish-founded card issuer and payment processor Enfuce is bringing its two-in-one debit and credit card to the UK, France and Germany.
The concept of a ‘combination card’ has become an industry standard in Enfuce's home market of the Nordics but is less common in the rest of Europe.
The E2 Mastercard card gives users both credit and debit PANs in one piece of plastic with one PIN. Cardholders can set their default payment depending on preference, and then instantly switch between the two at the point of sale.
Enfuce says this provides an alternative to moving money between accounts, giving cardholders more control over their spending, and helping them avoid overdraft fees. Each application is linked to its own account, so funds will always be taken from the correct one.
The company is pitching to issuers, arguing that dual-PAN removes the need to provide two cards, adding flexibility and reducing plastic consumption. Clients can also customise card products with things like custom limits and controls made in real-time.
Denise Johansson, co-CEO, Enfuce, says: “We believe that our 2-in-1 card could soon become an industry norm, as it has done in the Nordics. We’re proud to be able to answer a clear gap in the market for both banks and consumers, giving an added boost to the rich fintech ecosystem in the UK, France and Germany.”