Expanding into a new market is never a one-size-fits-all approach—especially in the complex and dynamic world of payment card issuing and processing. For Finnish fintech leader Enfuce, entering the BeNeLux region required deep market insights, a localized strategy, and a clear roadmap for success. To navigate this expansion, Enfuce partnered with PaymentGenes Consultancy to conduct an in-depth market analysis, define key verticals, and craft a tailored market entry strategy. By leveraging PaymentGenes’ expertise, Enfuce was able to gain a deep understanding of the region’s payment landscape, establish a strong local presence, and successfully secure new partnerships. This case study explores how Enfuce tackled the challenges of market entry, the methodology behind their strategic approach, and the results that have positioned them for long-term success in the BeNeLux region.
Enfuce is a leading innovator in the card issuing and processing space. Their cloud-based solutions enable next-gen payment card propositions for Fleet & Fuel, Employee Benefits, Neobanks, Expense Management, Alternative lending and many more use cases. Services are provided in both issuer processing and BIN Sponsorship.
For their European rollout Finnish fintech Enfuce was eying BeNeLux market entry. To spearhead their expansion Enfuce wanted to have a clear understanding of the BeNeLux market and a break down in their key verticals and potential companies to target
Enfuce selected PaymentGenes Consultancy to execute market research and to define the market entry strategy. The assignment goal was to provide the right local context and enable the newly formed team to hit the ground running in Amsterdam.
Entering the BeNeLux market requires a tailored approach to each country. Each country has their distinctive differences in how issuing processing services have evolved over the years and are being offered to the market.
With a Nordic background (Finland), Enfuce understood the necessity for a localized approach.
We created a deep dive per country, covering an extensive insight in the maturity level of retail payments. We explained the evolution of commercial and consumer cards in the local markets. Next to that we indicated the key trends, applicable regulations and card schemes positions per country.
Following the market understanding we dived into the position of banks and fintechs, the active issuing processors and the key developments in the landscape. This resulted in a deep understanding of the competitive landscape.
Together with Enfuce, we defined several verticals of interest. We analyzed the specific requirements for card products and identified opportunities for Enfuce to leverage its product suite.
Based on a thorough understanding of the local markets in the BeNeLux, we crafted a tailored go-to-market strategy for Enfuce to enter the market with confidence.
Enfuce developed a deep understanding of the BeNeLux market, including the local specifics and requirements. Understanding the vertical allowed for the identification of clear opportunities.
Based on the results of this study and the defined market entry strategy, Enfuce ensured it had a dedicated sales presence in Amsterdam, the FinTech hub of the BeNeLux. Collaboration with card schemes and the local FinTech community were established.
PaymentGenes supported the team by sharing the outcomes of the study and providing a sales playbook that allowed them to hit the ground running.
Armed with a clear go-to-market strategy, Enfuce has been able to sign new clients and establish successful partnerships in the region.
‘“The right level of understanding allowed us to successfully enter the BeNeLux region and navigate the region with success." Ixa Nembang, Partnership Manager at Enfuce.
It wasn’t so long ago that CEO’s and large banks were convinced that bank locations would always be necessary to service their customers. However the last ten years we have seen an emergence of Digital Banks, that have never and will probably never own a physical location, but still manage to grow their user base and add additional services including insurance, mortgages and loans.
As many payments companies still struggle to deal with large quantities of data, otherwise described as Big Data, there have been some interesting developments in the ecosystem that will dramatically shift the landscape of payments.
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