FOR IMMEDIATE RELEASE
Icelandic Fintech Duo Unveils Europe’s First Commercial Card That Tags Carbon Emissions to Every Transaction
Enfuce and Síminn Pay embed real-time CO₂ analytics inside a virtual Mastercard, giving 14,000 businesses an instant ledger for ESG reporting.
Reykjavík, Iceland – 20 November 2025
Enfuce, the Nordic cloud-issuer processing platform, and Síminn Pay, the fintech arm of Iceland’s largest telecom operator, today announced the pan-European rollout of a commercial card that automatically calculates and appends a carbon-dioxide equivalent (CO₂e) figure to every purchase. The virtual Mastercard, which loads instantly into Apple Pay and Google Pay, is the first corporate card programme on the continent to integrate climate-impact data at the point of authorisation rather than through end-of-month estimates.
According to a 2025 Accenture survey, 73 % of European CFOs now list “transaction-level carbon visibility” as a top-three procurement requirement, yet only 9 % of banks deliver it in real time. The new Enfuce–Síminn Pay bridge closes that gap by streaming purchase data to Deedster’s climate engine, which returns a CO₂e figure within 150 milliseconds—fast enough to appear in the cardholder’s notification before the terminal finishes printing the receipt.
“For too long sustainability has been a quarterly exercise in chasing PDFs,” said Enfuce co-CEO Denise Johansson. “By wiring the carbon calculator directly into the authorisation flow we turn every payment into a miniature sustainability report, giving CFOs and sustainability managers the granularity they need for CSRD, SEC climate and UK TCFD filings without extra spreadsheets or manual look-ups.”
The Icelandic pilot, which began in June 2024, has already issued 2,100 virtual cards to Síminn Pay’s enterprise customers. Early data show that simply surfacing the CO₂e figure drives an average 8 % reduction in high-emission spend categories such as domestic air travel and diesel vehicle refuelling within the first 90 days.
Market momentum is building behind so-called “carbon-aware” payments. Analysts at Juniper Research forecast that cards embedding climate analytics will process USD 2.3 trillion globally by 2027, up from USD 380 billion in 2024. Driving the surge is incoming EU legislation that will require all companies with more than 250 employees to disclose Scope 3 emissions—including those embedded in corporate card programmes—from financial year 2026 onward.
The Enfuce–Síminn Pay product charges no additional interchange or SaaS fee; revenue comes from standard Mastercard commercial credit economics plus optional offset purchases. Cardholders can toggle between “track-only” mode and automatic offsetting via Gold Standard-certified Icelandic reforestation projects at an average cost of 0.45 % of transaction value—roughly one third of the voluntary carbon market spot price quoted by CarbonMark in November 2025.
“We are a telecom company at heart, so we understand network effects,” noted Síminn Pay CEO Guðjón Þórðarson. “When 14,000 Icelandic businesses see their emissions in the same dashboard that shows their data usage, sustainability stops being a compliance checkbox and becomes a performance metric you optimise like any other KPI.”
Enfuce, licensed by the Finnish FSA and passported across the EEA, handles all onboarding, KYC and credit decisioning through an API that plugs into Síminn’s existing business-portal. Credit lines are dynamic, adjusting nightly to the customer’s telecom billing history and real-time cash-flow data—an approach that has cut onboarding time to six minutes and default rates to 0.9 %, half the Nordic SME average.
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