Card issuing and processing pioneer Enfuce has been chosen by leading Norwegian crypto exchange NBX to issue a Visa®-branded credit card offering Bitcoin cashback on purchases. Powered by Enfuce’s award-winning cloud-native issuing platform, the launch of the card is a turning point in the crypto market, as it opens up for a new, safe and easy way for users to earn Bitcoin through daily use of a secure and compliant payment card.
The NBX Visa® credit card is designed to give users from 0.5% to 4% Bitcoin cashback on purchases when using the card, and heralds a significant opportunity for NBX to attract customers looking for a simple, secure, efficient and user-friendly introduction to cryptocurrency. With Enfuce as its issuing partner, NBX will be able to offer its customers virtual and physical Visa® credit cards, with the ability to integrate the cards into popular digital wallets including Apple Pay and Google Pay.
Enfuce will empower NBX to build upon its strategy of enabling easier access to crypto, letting customers make purchases on their Visa® card, with cashback calculated in Bitcoin and added separately to their NBX crypto wallet. With a trusted and secure method of making payment transactions, in full compliance with regulations such as AML and KYC, NBX customers can benefit from cutting-edge technology and a compelling mainstream payment solution.
NBX is registered with the Financial Supervisory Authority of Norway, making it a secure crypto exchange providing peace of mind to its users. Customers can buy and sell popular digital assets including Bitcoin, Ethereum, Cardano and others in a range of currency denominations including EUR, NOK, SEK and DKK through bank accounts or cards. As of 2023, NBX reported more than NOK2 billion (€175 million) in trading volume.
NBX customers that have undergone the registration process for the NBX Visa® credit card issued by Enfuce now have instant access to their virtual cards, while physical cards are in production and are being rolled out on an ongoing basis to customers and partners who have registered on the waiting list. From autumn, the general public and non-customers of NBX will be able to apply for the card.
Stig Kjos-Mathisen, managing director of NBX, says: “Many of our customers have been patiently waiting for this, but now the launch is finally a fact and the feedback is overwhelming. The advance interest for this card has been fantastic and we are very excited and are looking forward to enhancing this product further. Google Pay and Apple Pay are already in the making with more features on the drawing board. NBX will together with Enfuce and Visa make the NBX Visa® credit card the most exciting credit card in the Nordics.”
Since its launch in 2016, Enfuce is now processing nearly €2 billion in transactions annually for more than 16 million active debit, credit and prepaid card users on its platform, empowering visionary leaders to reimagine customer engagement with unique use cases, happier customers and stronger revenues.
Denise Johansson, Co-Founder and Co-CEO at Enfuce, comments: “The launch of the NBX Visa® credit card is a turning point for the Norwegian financial market. As the first of our customers to offer this type of consumer access to cryptocurrency, Enfuce is proud to help enable the future of Bitcoin in Nordic countries and across Europe. Our technology is the perfect solution for the roll-out because it is safe, secure and we’re excited to see where this partnership will take us.”
Monika Liikamaa, Co-Founder and Co-CEO Enfuce, comments: “Cryptocurrency is a burgeoning market, and innovations such as the NBX credit card allow consumers to engage with cryptocurrency in a whole new way, while also enabling providers to be fully compliant with regulations. Opening up the market through everyday spending is a unique proposition and we are excited to be able to deliver such a safe, secure and clearly highly sought after product.”
This latest partnership announcement underlines Enfuce’s rapidly accelerating growth momentum, following its €45 million in Series C funding that was secured from Vitruvian Partners, a global investment firm which supports ambitious, high-growth companies. Having secured several high-calibre partnerships across a number of industry verticals over the past 12 months, alongside several prestigious award wins, Enfuce is swiftly becoming the go-to partner for card issuance and embedded payments services in the B2B and B2C spaces.
*Visa is a registered trademark of Visa International Service Association.