Will Octopus & Enfuce’s New Card Simplify EV Fleet Payments?
Fleet managers may just have been handed a lifeline in their struggle to go electric, thanks to a new partnership between Octopus Energy and Finnish fintech Enfuce.
Last week, at the European edition of Money 20/20, Enfuce announced that it was teaming up with Octopus — one of the UK’s largest providers of renewable energy and sustainable infrastructure — to address a problem that has been stalling the electric vehicle revolution.
The pair have launched the Electroverse Business Payments Card, which they believe will rectify one of the biggest headaches facing companies that are trying to electrify their fleets: managing all those different charging networks, fuel cards and expenses.
One card to rule them all
So, what exactly does the new card do?
The card isn't just for charging: it covers everything from fuel (for those hybrid transition periods) to the mundane stuff like grabbing lunch or getting the van washed.
This means that finance departments will no longer have to pull expenses from a disparate set of sources — instead they’ll get a clean, simple overview of their employees’ spending while they’re on the move.
The system runs on Visa's Fleet 2.0 platform, which means real-time spending controls, instant spending alerts and built-in fraud protection.
“For us, this isn’t just about enabling payments, it’s about accelerating meaningful progress in mobility,” says Denise Johansson, Co-Founder & Co-CEO of Enfuce.
“As EV adoption grows, the infrastructure behind it must evolve just as rapidly.
“This partnership with Octopus Energy’s Electroverse showcases how innovative technology and shared vision can come together to solve real challenges for fleets.
“It’s a bold step toward building a cleaner, smarter and more connected future of transport.”
Inside the partnership
Despite being primarily an energy provider, Octopus has a significant foothold in the EV charging market, with more than 960,000 charging stations in service across the UK and Europe.
All in all, Octopus works with more than 1,100 charging companies in 40 countries.
One of the most commonly cited pain points for EV users is a lack of standardisation at the charging point.
It means that drivers end up juggling multiple different apps and cards, which gets both confusing and cumbersome.
With this new partnership, there’s hope that the road ahead might be smoother.
As the first company in Europe to receive certification for Visa’s Fleet 2.0 system, Enfuce was the natural choice for Octopus when it came to partners.
Off the back of its certification, the Finnish firm has built a platform that can be flexible, fast and compliant with regulations.
Could the Electroverse card be a game changer?
EVs are expected to dominate UK fleets by the turn of the next decade, with companies racing to hit ambitious net zero targets.
With new regulations gathering on the horizon, the demand for quick and easy sustainability journeys has never been higher.
Whilst it won’t save the world, this partnership between Octopus and Enfuce will certainly get the wheels of corporate sustainability turning a bit faster.
“The launch of the Electroverse Business Payments Card is a game-changer for fleet electrification,” says Monika Liikamaa, Co-Founder & Co-CEO of Enfuce.
“As the first issuer processor certified for Visa Fleet 2.0 in Europe, Enfuce is uniquely equipped to deliver solutions that meet the complex needs of modern mobility.
“Together with Octopus, we’re helping businesses take control of their fleet spend and accelerate their transition to electric at scale.”
Taking the hassle out of EV chargers
“Electroverse started with a simple goal: to take the hassle out of EV charging,” says Matt Davies, Director and Creator of Octopus Energy’s Electroverse.
In theory, that is exactly what this new partnership promises, simplifying payments and helping accounting and finance departments to focus on more pressing matters.
Octopus and Enfuce don’t intend to stop there, though.
“Now we’re taking that vision even further – empowering businesses with the tools they need to electrify their fleets with confidence, regardless of where they are in the transition,” says Matt.
“Every solution that brings more EVs onto the road counts, and we’re proud to be building the infrastructure that helps businesses lead the shift to smarter, more sustainable transport.”
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