Nordic peer-to-peer lender Fellow Finance has expanded into payments.
The platform is working with payments company Enfuce to develop a Fellow Finance-branded Visa card that can be used on mobile and physically.
The virtual card will enable Fellow Finance customers to pay online and in-store using Apple Pay and Google Pay digital wallets, with relevant card data available in the Fellow Finance app.
A branded physical card will also be offered to those interested.
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The cards will initially be available in Finland and will include a cashback feature.
“We at Fellow Finance have had two main objectives regarding the credit card product: create the best possible customer onboarding experience for the actual card and its mobile wallet and to create a truly rewarding reward program for our customers,”Juho Putkonen, development manager at Fellow Finance, said.
Cards are becoming a popular product area for alternative lenders.
Zopa Bank has also launched its own credit card.