Wallester

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Wallester
IndustryFinancial technology
Founded2016; 8 years ago (2016)
Founder
HeadquartersTallinn, Estonia
Area served
EEA
Key people
  • Sergei Astafjev (CEO)
  • Dmitri Logvinenko (COO)
Websitewallester.com

Wallester is a licensed payment service provider that specialises in white label card issuance, processing, and payment transaction solutions.[1][2] Founded in 2016, the company provides services like card processing, BIN sponsorship, and helps detect payment card fraud.[3] Its services are beneficial to consumers and employers across various businesses, loan providers, fintech companies, and financial institutions. The company develops innovative solutions for whistle-label visa cards,[4] payment processing, and online banking.[5]

Wallester's software and REST API enable customers to easily connect and administer card programs, from startups to large multinational enterprises.[6]

Wallester AS is headquartered in Tallinn (Estonia).[7] Wallester offers its services to the business clients in all countries of the European Economic Area.[8] Currently, Wallester has 38 active partners and more than 1.5 million active consumers.[9]

History

Wallester was founded in 2016 by Dmitri Logvinenko. The company was created in 2016 as a spin-off from Folkefinans, a Norwegian finance and credit organisation. Wallester has concentrated on the development of its own cloud-based card issuing technology[10] solutions and licensing services since its spinoff, with all relevant intellectual property rights protected.[11]

In December 2017, the firm obtained a payment service provider license from Finantsinspektsioon, the Estonian financial supervision agency, and in May 2018, it became an issuing member of Visa Europe.[12] Wallester became a Visa Principal Member in December 2020, and now provides a comprehensive White Label integrated solution to firms looking to create a payment card program,[13][14] including debit/credit/prepaid (gift cards) and plastic/virtual cards for both consumer and commercial clients.

Wallester enjoys the status of VISA Principal Member and participates in the VISA Ready and VISA Fintech Fast Track programs.[15][16]

Since 2018, Wallester has been a Visa Principal Member and a Visa FinTech Fast Track Member, issuing branded physical and virtual cards that can be linked to contactless payment platforms like Google Pay, Apple Pay, Samsung Pay, and others.[17][18]

In May 2020, two investors bought the firm. Following that, it was a long road with a complete rebranding, the formation of new teams, Principal Membership, direct tokenization service with Visa, the development of a mobile app, and the introduction of a new product. Wallester began to participate in conferences.[19]

Wallester supported its global financial services partner Visa in the development of NFT and the entire cryptocurrency industry. The company made a recent investment in NFT and bought the tokens..[20][21][22]

Wallester's newest product, Wallester Business, was just released. This in-demand solution provides customers with free corporate cards with personalized restrictions.[23]

Funding

Wallester secured 2M euros in Pre-Seed funding in 2017 and 5M euros in Seed funding in 2020.

Platform

Wallester offers a mobile application that facilitates easier payment transfers and online purchases while setting limits for specific cards and transaction types.[24] The company has currently passed its PSP licence issued by the Estonian FSA to Austria, Belgium, Bulgaria, the Czech Republic, Croatia, Cyprus, Denmark, Estonia, Finland, France, Greece, Germany, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, the United Kingdom of Great Britain and Northern Ireland, Liechtenstein, Norway, Monaco, and San Marino.[25]

Wallester services are beneficial to businesses, loan providers, fintech companies,[26] and financial institutions.

Services

Wallester is a fintech initiative that is developed to facilitate easy, safe, and quick transactions. It offers services like card issue and processing, white label solutions, BIN sponsorship,[27] and all types of cards like debit, credit, prepaid, physical, virtual, consumer, and business cards.[28] With its services, the users can tokenize and add their cards to digital wallets like Apple Pay, Google Pay, and Samsung Pay. Moreover, the platform is 3D secure, prompting users for an additional verification step.[29]

Wallester also helps detect any payment card fraud thus reducing possible financial losses, a valuable service for all consumers and employers.[30] Some of the other solutions offered by the company include the option to create your own card designs and manage cards with an option to set up Visa Gold, Platinum, Signature, and other benefits.[31][32]

Wallester’s white label debit card is easy to set up and offers an additional revenue stream.[33][34] It is linked with the amount of money loaded, so if the user makes a high purchase with low debt, it automatically gets declined.[35]

In the media

              


References

  1. ↑ "Wallester AS". crunchbase. Retrieved 16 June 2022.
  2. ↑ "Introducing Wallester: An Innovative Leader in Card Issuing". InsightsSuccess. 4 August 2021. Retrieved 14 June 2022.
  3. ↑ "Onfido Enables Remote Onboarding for White-Label Visa Issuer". Mobile ID World. 10 March 2022. Retrieved 14 June 2022.
  4. ↑ "Easily manage all your euro expenses with Wallester Business Visa card payment solutions". spanishnewstoday.com. Retrieved 14 June 2022.
  5. ↑ "Pourquoi votre entreprise nécessite-t-elle des cartes de salaires et du programme de cartes en marque blanche ? Cas de la firme Fintech-Wallester, révolutionnaire dans le secteur bancaire". ABC Bourse (in français). Retrieved 14 June 2022.
  6. ↑ "Wallester: Transforming the corporate transactional space". fintechmagazine.com. 8 June 2022. Retrieved 14 June 2022.
  7. ↑ "Wallester AS". Fintech Finance. Retrieved 14 June 2022.
  8. ↑ "Wallester helps clients reach new markets". Banking Circle. 8 December 2021. Retrieved 14 June 2022.
  9. ↑ "Wallester Innovative Card Solutions". SaveDelete. 12 July 2021. Retrieved 14 June 2022.
  10. ↑ "Wallester's Innovations in Card-Issuing". CEOWORLD magazine. 10 June 2022. Retrieved 14 June 2022.
  11. ↑ "Why do you need to create modern payment experiences for your business? FinTech startup Wallester has the answer!". Fintech News. 3 June 2022. Retrieved 14 June 2022.
  12. ↑ "New solutions that revolutionise virtual card payments". Payments Cards & Mobile. 19 August 2021. Retrieved 14 June 2022.
  13. ↑ Times, The Brussels. "Promoted | When It Comes To Business Branded Payment Cards, Complicated Has Never Been More Uncomplicated". www.brusselstimes.com. Retrieved 14 June 2022.
  14. ↑ Times, The Brussels. "Promoted | When It Comes To Business Branded Payment Cards, Complicated Has Never Been More Uncomplicated". www.brusselstimes.com. Retrieved 14 June 2022.
  15. ↑ "Top 5 Fintech Software Engineering Jobs in 2021 - Opportunity Desk". opportunitydesk.org. 14 June 2021. Retrieved 14 June 2022.
  16. ↑ "Wallester | Visa Partner". www.visa.lt (in lietuvių). Retrieved 14 June 2022.
  17. ↑ Matters, Business (15 August 2021). "Start a white-label business in one transaction and gain a loyal customer with every swipe". Business Matters. Retrieved 14 June 2022. {{cite web}}: |first1= has generic name (help)
  18. ↑ "Bitlevex Issues Physical and Virtual Cards with Wallester White-Label". world.hey.com. Retrieved 14 June 2022.
  19. ↑ "PayPugs teams up with Wallester". thepaypers.com. Retrieved 14 June 2022.
  20. ↑ "Visa's Estonian partner Wallester invests in NFT". CoinGape. 4 October 2021. Retrieved 14 June 2022.
  21. ↑ Autor., Shakespeare, William (1564-1616). (4 October 2021). "Visa's Estonian partner Wallester invests in NFT". CoinGape. Retrieved 14 June 2022.{{cite web}}: CS1 maint: multiple names: authors list (link)
  22. ↑ Sriniwasan, Anjali (4 October 2021). "Visa's Estonian partner Wallester invests in NFT". AMBCrypto. Retrieved 14 June 2022.
  23. ↑ "A corporate card is a special card linked to the account of a legal entity | Express Digest". expressdigest.com. 1 June 2022. Retrieved 14 June 2022.
  24. ↑ "13 Top Transaction Processing Startups and Companies in Baltic States". BestStartup.eu. 22 April 2022. Retrieved 14 June 2022.
  25. ↑ "Introducing API's - The Future of Digitized Virtual Payment". Market Business News. 30 September 2021. Retrieved 14 June 2022.
  26. ↑ "Banks Are Partnering With Fintech Companies To Solve Banking Problems". FinSMEs. 7 June 2022. Retrieved 14 June 2022.
  27. ↑ "BIN Sponsorship, card issuing". TechClient. 8 June 2022. Retrieved 14 June 2022.
  28. ↑ "Estonian-fintech-Wallester-chooses-Nets-as-card-processor". FRONT PAGE (in eesti). Retrieved 14 June 2022.
  29. ↑ "An Array of Bank Card Solutions for Your Business from Wallester | TheBusinessDesk.com". North West. Retrieved 14 June 2022.
  30. ↑ "Daily Pay for Gig Workers and Sizable Corporations". Beating Broke. 23 July 2021. Retrieved 14 June 2022.
  31. ↑ "Wallester Wants You to Know Cash is No Longer King". www.globalbankingandfinance.com. 31 January 2022. Retrieved 14 June 2022.
  32. ↑ "Wallester Business". OpenBusinessCouncil Directory. 10 June 2022. Retrieved 14 June 2022.
  33. ↑ Collins, Bella (21 October 2021). "Get Your Own High-Tech White Label Debit Card". Seriable. Retrieved 14 June 2022.
  34. ↑ "PayPugs Launches Virtual Debit Cards with Wallester partnership". Fintech Finance. 1 November 2021. Retrieved 14 June 2022.
  35. ↑ "Wallester successful in acquiring cross-border license". Sorainen. Retrieved 14 June 2022.

External links

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