Swile, a French fintech specialising in employee experience management and benefits administration solutions, has partnered with processing company Enfuce to launch a new card offering in Latin America that combines multiple employee benefits.
Enfuce says the “multi-pan combo card” features various employee benefits, including meal vouchers, mobility benefits, and culture vouchers, and will first be rolled out to Swile customers in Brazil.
The card operates both in physical retail locations and online environments, and provides real-time balance tracking and transaction history through Swile’s mobile application.
Each benefit type on the card operates with separate spending limits and merchant restrictions, and automatically identifies the appropriate benefit category based on merchant codes, eliminating the need for manual entry.
The Nordic payment processor will provide cloud-based issuer processing capabilities for the new offering, including real-time authorisation and settlement, after previously working with Swile to launch a similar benefits card in France in 2023.
The partnership expansion signals Enfuce’s Latin America debut, with the Helsinki-based company using Brazil as its entry point into the region’s employee benefits market.
Swile currently serves over 5.5 million users globally across 85,000 companies, including Carrefour, JCDecaux, PSG, and Spotify. The Brazilian launch is expected to reach over one million users by mid-2026.
Led by founder and CEO Loïc Soubeyrand, Swile has been plotting an expansion into Latin America for a number of years, having secured $200 million through a SoftBank-led Series D in 2021 to fund growth efforts. Other investors include Eurazeo, Index Ventures, Bpifrance Large Venture, and Headline.
Source: https://www.fintechfutures.com/
