Iceland’s Kvika Bank has partnered with Enfuce, a Finnish card issuer and processor, to modernize its payment services. The collaboration aims to offer Kvika Bank’s customers a range of card and mobile payment solutions, including a Visa consumer credit card, integration with Apple Pay and Google Pay, and the relaunch of its banking app, Aur.
Facts
- Kvika Bank has partnered with Enfuce, a Finnish card issuer and processor, to revamp its payment services.
- With Enfuce’s cloud payment solutions, Kvika Bank plans to offer a variety of card and mobile payment solutions to its customers.
- Kvika Bank aims to launch a Visa consumer credit card and enable integration with Apple Pay and Google Pay.
- The bank also plans to relaunch its banking app, Aur, which was acquired when Kvika Bank purchased Icelandic fintech firm Aur in 2021.
- Kvika Bank, founded in 2002, is a fully licensed bank operating in Iceland.
- Kvika Bank’s Aur app has a significant user base, claiming over 30% of Iceland’s population (over 100,000 people) as users.
- Enfuce, founded in 2016 and based in Finland, processes nearly €2 billion worth of transactions annually for more than 16 million active card users. Their solutions include expense management, payment programs, and spend controls.
