Enfuce, the card issuer and processor, has partnered with Swedish banking-as-a-service (BaaS) provider SEB Embedded and fintech Humla to launch a co-branded payment card, for customers of Hemköp, one of Sweden’s largest supermarket chains.
Through the new partnership, Enfuce, SEB Embedded and Humla are enabling Hemköp customers to track their spending at the supermarket and earn rewards. The launch of the card, dubbed Hemköp Matkonto, marks the first live product from the partnership and aims to bolster embedded finance within Sweden’s food retail sector.
Powered by Enfuce’s cloud infrastructure, the card enables customers to digitally manage their grocery budgets, track spending, and earn 25 per cent more membership points when shopping at Hemköp, both in-store and online. The new card is already available to customers.
Denise Johansson, co-founder and co-CEO of Enfuce, comments: “Embedded finance is all about creating frictionless, customer-centric solutions that align with consumer needs – and the Hemköp Matkonto card does just that. Our partnership with SEB Embedded allows us to bring next-level, streamlined, and intuitive payment experiences to life while ensuring scalability for future growth.”
Monika Liikamaa, co-founder and co-CEO at Enfuce, also added: “By combining Enfuce’s advanced payment platform with SEB’s robust BaaS capabilities, we’re giving Swedish consumers a solution that allows them to manage their budgets efficiently, track spending, and access rewards.”
By leveraging Enfuce’s modular payments platform and SEB Embedded’s BaaS offering, the new card hopes to have a big impact on the way Swedish consumers manage their grocery spending, ensuring it is scalable, secure, and set for future expansion.
Emelie Eriksson, head of SEB Embedded, also comments: “It is a key step towards delivering seamless, customer-centric financial solutions that meet our clients’ needs and empower them to better serve their customers. With more products set for delivery, we look forward to bringing banking to where it is needed, setting an example for Swedish consumers by making financial services easy and more accessible at the point of need.”
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