Wallester: New Generation of Corporate Finance

Personalized financial services have been a trend in recent years. Such services help companies to promote their brands, optimize customer experience, and increase the efficiency of operations. It was once believed that such solutions were only available to large businesses as they require considerable resources, time, and effort. However, the situation has changed, largely due to the emergence of the innovative Wallester card issuing platform. It has made personalized financial services available even to SMEs. Let us tell you about this company, what services it provides, and why its offer is truly unique.

What Is Wallester?

The Wallester was registered in Estonia in 2016. The company that owns it has a payment processing license issued by the Estonian Financial Supervisory Authority (FSA). It is also included in the list of VISA Principal Members and is a partner of the international payment system.

Since 2018, Wallester has been issuing its own financial products — credit, debit, prepaid, and corporate cards. The company offers personalized business solutions that promote its partners’ brands and allow for the creation of convenient payment instruments.

In 2023, the company increased its staff 4 times compared to 2021. Its revenue grew 12-fold, and the number of cards issued increased 22-fold. The brand’s popularity allowed Wallester to enter the list of TOP-3 largest financial companies in Estonia.

2023 was a crucial year for the company. It received the PCI DSS Level 1 financial transaction security certificate. The high-tech startup was also awarded the prestigious AWS Best Expense Management Platform 2023 award in the SMB Security Campaign.

Today, Wallester is a successful company with offices in Estonia and France. Its products are available in 37 countries, both in Europe and North America. Wallester has completed 24 major projects to promote well-known brands. Its partners include AstroPay, Delphin Group, and Striga.

Wallester’s Services

The company’s first breakthrough product was the Wallester White-Label service. It allows businesses to create their own payment cards — credit and debit, prepaid and corporate, gift, and even cryptocurrency. Using this service, you can also order membership and loyalty program cards.

The advantages of Wallester White-Label are as follows:

• The possibility of full personalization — the brand is added not only to a plastic card or a virtual image but also to mobile applications and the corporate finance management portal.
• Convenient integration into business processes — the service uses a cloud infrastructure with REST API. You can connect it to your software in the shortest possible time.
• High level of security — 3D Secure and PCI-DSS Level 1 technologies, as well as AML & KYC functions, are supported.
• Promptness — virtual cards are issued instantly. You can order an unlimited number of payment instruments.
• Innovation — support for tokenisation technology enables adding cards with your brand to Apple Pay and Google Pay payment systems.

The next step for the company was to launch the Wallester Business financial management platform. It is a comprehensive web portal that allows you to control company expenses and issue corporate cards. By creating an account, you can set spending limits for each employee, approve or reject transactions, create white lists of trusted partners, and launch payroll projects.

Wallester Business provides the following benefits to program participants:

•  Affordability — the basic plan provides for the free issuance and maintenance of 300 payment cards. It is the best choice for small and medium-sized businesses.
• Personalization — the service allows you to create individual cards with the company’s brand for departments, managers, partners, and contractors.
• Advanced analytics — the online portal allows you to view summary reports and information on each account. It provides 100% control over cost efficiency.
• Quick start — you can connect the first cards just one hour after registration. You do not need deep technical knowledge to do this.
• Full integration — the platform also has a REST API, which allows it to transfer all the necessary data to your software.

Why Wallester?

In 2016, the company’s founders, Dmitri Logvinenko and Sergei Astafjev, discovered the unique prospects for the development of the embedded finance sector. They embarked on a vital mission to make personalized financial services simple, accessible, and efficient.

That is why Wallester’s web portal and mobile applications have an intuitive interface that allows any employee to control corporate finance with minimal effort. This solution’s simplicity reduces the time and resources spent on training.

Another advantage of Wallester is the maximum simplification of business processes. For example, the corporate and expense card management service allows you to digitize invoices in seconds. To do this, employees need to select the appropriate function and take a photo of the paper document with their smartphone camera.

Finally, the versatility of Wallester’s offer is also worth mentioning. The company cooperates with retailers, online stores, banks, insurance companies, travel agencies, microfinance organizations, and representatives of other business sectors. It has ready-made solutions for each of these segments, which allow it to quickly create innovative payment instruments, staying ahead of the competition.