Finnish issuing processor Enfuce has launched a 2-in-1 card that combines credit and debit functionality (Fintech Finance News). E2, the product name of the card, contains two PANs (Primary Account Number), one for each payment method. The cardholder can set their preferred payment method, credit or debit, but can change it at the point of sale.
This card offering seems perfect for Europe. Many consumers prefer debit cards (like myself) for their daily spendings; however, you still want to occasionally use a credit card for more expensive purchases, car rentals and so on. Obviously one card is better than two, so the Enfuce provides value for card holders and reduces friction for companies integrating the offering.
It will be interesting how the offering is going to be received and if other infrastructure providers follow with a similar offering. The product was developed in partnership with Mastercard, and I would expect that such products increase credit usage. If that’s the case, both card schemes will have an interest in increasing the adoption of such card offerings at more infrastructure providers.
