Visa Picks Enfuce to Launch New Fleet Mobility Card

Payment processor Enfuce and Visa have expanded their partnership to introduce a new mobility card.

The collaboration, announced Wednesday (Dec. 6), lets the two companies deliver the Visa Fleet 2.0 solution to their joint, prospective clients across Europe.

“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,” the companies said in a news release.

The release adds that this “not only enhances operational efficiency by enabling drivers to choose the most efficient routes and access optimal fuel prices,” but it also eliminates the need to carry multiple fuel cards by offering an all-in-one tool that can be accessed through both digital and physical wallets.

And because the card can be used for all types of expenses, it allows fleets to use it to pay for electric vehicle (EV) charging, at a time when a majority 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,” the release said.

PYMNTS noted this shift toward EVs earlier this year in a conversation with Arun Chickmenahalli, Ryder System’s director of maintenance research and development for advanced vehicle technology.

“Sixty percent to 70% of an EV is the same as your regular ICE (internal combustion engine) make,” he said. “The wheels, tires, body are pretty much similar. But the 30% to 35% that is different is completely state of the art, and that requires a futuristic way of thinking.”

And this change is also part of a larger transformation involving the digitization of supply chain and logistics processes.

“In response to these changes, companies are launching innovative solutions to modernize truck fleet management and enhance efficiency,” PYMNTS wrote in July.

Enfuce’s expanded partnership with Visa comes days after the Finnish company raised $9.2 million in a funding round whose participants included the payments giant.

“Visa’s trust isn’t just a validation of our business, it’s a testament to our significant growth during challenging economic times,” Enfuce Co-founder and Co-CEO Monika Liikamaa said in a news release.

“Since our inception, we have been committed to rapidly scaling up to ensure the widespread deployment of our modular, scalable and advanced payment solutions that significantly simplify our customers’ lives. With Visa’s investment, we will continue to bring our bold vision of shaping the future of embedded finance to life.”