Issuer processing firm Enfuce is expanding its partnership with Visa with the launch of a new mobility card, the ‘Visa Fleet 2.0.’
The collaboration between the firms is targeting fleet management across Europe by offering enhanced efficiency through 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, the firms said the Visa Fleet 2.0 solution will not be restricted to specific fuel retailers or specific types of products such as petrol or diesel.
It can be used at any location accepting Visa cards and for expenses beyond fuel-related payments including EV charging, tolls, mass transit, and micro-mobility, the firms added.
The all-in-one, fully integrated card will be accessible via both physical and digital wallets, eliminating the need to carry multiple fuel cards. Among other benefits, the card will offer detailed transaction data, purchase restrictions & spend controls and enhanced security. The launch follows a Visa report that 70% of fleet managers plan to transition to electric, hybrid, or hydrogen cell vehicles within the next five years.
Denise Johansson, Co-Founder & Co-CEO of Enfuce, said: “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& Co-CEO of Enfuce, added: “This certification means we can support our valued customers in revolutionising the outdated fuel card, streamlining fleet management, and bolstering security measures through comprehensive data tracking to combat fraudulent activities.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.
In addition, Enfuce recently secured an €8.5 million follow-on investment round led by Vitruvian Partners, with participation from Visa and Maki.vc. It said it would be using the funding to help it expand in key markets of Benelux, Germany and France in 2024.
