Issuer processing powerhouse Enfuce, today announces it is expanding its partnership with Visa with the launch of Visa's cutting-edge mobility card solution, the 'Visa Fleet 2.0.'
Through the certification, Enfuce is now uniquely positioned to deliver the Visa Fleet 2.0 solution to their joint, prospective customers. The continued collaboration between Enfuce and Visa is set to revolutionise fleet management across Europe, offering enhanced efficiency through rich data and insights, cost reduction, and a crucial pivot toward sustainable transportation and mobility budgets.
Unlike traditional closed-loop cards used by most fleet operators worldwide, the Visa Fleet 2.0 solution is not restricted to specific fuel retailers or specific types of product like petrol or diesel, and can be used at any location accepting Visa cards. This not only enhances operational efficiency by enabling drivers to choose the most efficient routes and access optimal fuel prices but also provides unmatched convenience with an all-in-one, fully integrated card, accessible via both physical and digital wallets, thus eliminating the need to carry multiple fuel cards.
This groundbreaking fleet and mobility card can be used for all types of expenses chosen by the issuer, beyond fuel-related payments, thus accommodating for the evolving landscape of electric vehicles (EVs). Indeed, Visa reports that 70% of fleet managers plan to transition to electric, hybrid, or hydrogen cell vehicles within the next five years.
Conventional fuel cards designed for fossil fuel fleets lack the flexibility to accommodate EV charging without substantial investment on the issuer’s part. Visa Fleet 2.0 addresses these evolving needs by incorporating a plethora of different use cases such as EV charging, tolls, mass transit, and micro-mobility.
Thanks to its advanced, modular and customisable tech stack, the fleet and mobility card solution will introduce a range of other benefits, which include:
● Detailed transaction data: Comprehensive financial reporting and operational efficiency by consolidating detailed transaction data, including purchased items, unit prices, and associated VAT on a single card. Real-time data, including driver identification, vehicle identification, and vehicle mileage, can also help with fraud prevention.
● Purchase restrictions & spend controls: Visa Fleet 2.0 enables cards to be restricted for specific types of purchases, providing companies with greater control over card usage, mitigating the risk of inappropriate spending.
● Enhanced security: Enfuce also ensures the security of every issued card through the deployment of secure EMV technology and robust authentication methods like 3DS.
Denise Johansson, Co-Founder & Co-CEO of Enfuce, comments: “We are proud to lead the European market by being the first to offer the Visa Fleet 2.0 solution to our prospective customers. The card will help card issuers right across Europe thrive in the current market, while also equipping them for the fossil-free future. Considering the majority of fleet operators are looking to transition to petrol-free vehicles, it's crucial for fuel card issuers to adapt to these changing market dynamics. By offering enhanced flexibility, security, and convenience, our new card aims to meet these evolving needs of fleet operators.”
Monika Liikamaa, Co-Founder & Co-CEO of Enfuce, comments: “This certification means we can support our valued customers in revolutionising the outdated fuel card, streamlining fleet management, and bolstering security measures through comprehensive data tracking to combat fraudulent activities. This collaboration marks a significant milestone in the financial landscape, showcasing a joint effort to introduce forward-thinking solutions that cater to the changing demands of the modern mobility ecosystem.”
Richard Campion, Head of Fleet and Mobility, Visa, added: “Expanding access to financial tools and services is core to Visa’s purpose as we seek to uplift everyone everywhere. We’re excited to continue our work with Enfuce, helping them deliver our mobility card solution to their customers across Europe as they work to revolutionise the fleet management space.”
Enfuce leads a transformative shift in how companies manage payment cards and integrated financial services, having established itself as the go-to strategic partner for revolutionising payments flows and transformative business growth. Enfuce empowers its clients to ideate and implement innovative strategies with certified experts, not only delivering essential payment infrastructure but also driving customer loyalty, engagement, and revenue for its partners. This collaboration with Visa is in line with Enfuce's track record of pioneering initiatives. Demonstrating an unwavering commitment to innovation, Enfuce notably pioneered payment processing in the public cloud, spearheaded the adoption of Apple Pay in Finland, and has now introduced the Visa Fleet 2.0 solution.