Swile and Enfuce launch innovative all-in-one payment card to transform employee benefits

SME Banking
04/06/2024 News

Enfuce has announced a strategic partnership with French worktech unicorn Swile to launch an all-in-one employee benefits card in France. This innovative card integrates various benefits such as lunch and gift vouchers, travel expenses, and more into a single, secure, and efficient payment solution, revolutionizing the employee benefits space.

Digital Reinvention
15/05/2024 Article

Financial Innovation Spotlight: May 2024 edition

Swile, a major player in France’s employee benefits industry, processes €3 billion annually and is dedicated to disrupting how businesses reward employees. Traditionally reliant on physical vouchers, Swile pioneered the digital lunch voucher solution. Through its partnership with Enfuce, Swile aims to streamline the entire employee benefit experience further.

Leveraging Enfuce’s advanced issuer processing capabilities, Swile has created a unique market offering. The all-in-one card consolidates multiple benefits into one standalone card, expected to attract over 3 million users. It can be used in physical stores and online, and added to digital wallets like regular payment cards.

Swile customers can control the cards in detail, setting rules for payment transactions and imposing purchase restrictions. Enfuce’s technology ensures compliance with regulated employee benefit products and offers robust reporting capabilities, linking each card to an account holding the balance.

The employee benefits landscape has evolved, with diverse benefits becoming crucial for attracting and retaining talent. The global market for meal vouchers and employee benefits solutions is projected to grow from $232 billion in 2024 to $407 billion by 2032. Companies need a digital, streamlined payment solution that is easy, secure, and fast to use.

Denise Johansson, Co-Founder and Co-CEO of Enfuce, highlighted the card's potential to transform the employee benefits space. Monika Liikamaa, Co-Founder and Co-CEO of Enfuce, emphasized the partnership's role in driving innovation and growth. Quentin Vigneau, Product Director – Payments at Swile, praised Enfuce's commitment and craftsmanship, crucial for swift, innovative deployment.

This partnership is set to redefine the employee benefits landscape, offering a streamlined, digital solution benefiting both employers and employees.

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