Both companies collaborated closely with Visa. Visa's wide acceptance network was a key factor for Starcart, as it needed to make a large number of shops available in its service.
“At Visa, we support innovative fintech companies that can create social added value in their own markets. I believe that Starcart’s innovative payment solution, which has potential to significantly streamline the e-shopping experience by saving customers time and effort in searching for products and comparing prices, falls into this category," says Juha Sillanpää, Visa's country manager for Finland and the Baltics.
Together, Starcart, Enfuce and Visa developed an embedded virtual card payments solution that was fast, secure, and compliant, and customised to Starcart's unique requirements. It was an unusual set-up—the consumer triggers the payment, but the card is issued to Starcart. Visa's role was therefore bigger than normal, and there were a number of challenges the partners had to overcome.
How does it work? When a customer checks out their shopping cart, they can pay Starcart by card, BNPL invoice, or in instalments. Embedded onto the platform, a virtual disposable Visa prepaid card is instantly issued to Starcart by Enfuce. Starcart’s sophisticated automation—already used to confirm the prices and shipping fees of products in the shopping cart—pays for the products using Starcart's virtual card. It's all done in one click and takes just seconds. The issued cards are managed securely to prevent any possibilities for misuse or fraud.