Wallester

Wallester: fintech platform for IBAN accounts and card issuing

Wallester is a financial technology company headquartered in Estonia that operates under the supervision of the Estonian Financial Supervisory Authority (Finantsinspektsioon). It is certified as PCI DSS Level 1 and is a Visa Principal Member, which allows it direct access to the Visa network to issue cards. Its platform combines multi-currency IBAN accounts, card issuing, and expense management, for both businesses and freelancers.

Business and freelancer accounts

The company offers a free multi-currency IBAN account for businesses and freelancers. From it, you can send and receive payments, get paid via invoices or payment links, issue cards, and control spending. The service is free to start, with no setup fees, and according to the company it remains free for life because it is funded through agreements with Visa and other partners. Account opening is done in three steps: registration with phone and email, business verification through a KYC process, and acceptance of the contract. The company states that onboarding can be completed within 24 hours.

Card types

Wallester issues Visa cards of different types to suit different needs:

• Credit card: aimed at budget management and covering unexpected expenses with flexibility.
• Prepaid card: for cashless payments within the loaded balance, with no risk of overdraft.
• Debit card: for payments at terminals, online purchases, and cash withdrawals from ATMs within the available balance.
• Virtual card: designed for instant payments and secure online shopping.

Corporate, payroll, and Platinum cards are also mentioned within its product catalog.

White-Label platform for card programs

Wallester offers a White-Label solution that allows other companies to launch their own branded Visa card programs. The platform includes multi-currency IBAN accounts, customized cards, and a White-Label mobile app for iOS and Android, all managed through a single API. The coverage of this solution spans the European Economic Area (EEA), the United Kingdom, Switzerland, and Ireland.

The launch process is structured in four phases: kick-off with the submission of a Letter of Intent (LOI), onboarding with due diligence and signing of the Master Agreement, implementation with a dedicated manager, approval of the card design by Visa and configuration of an exclusive BIN range, and finally go-live with commercial launch and ongoing support.

Optional features of the White-Label program include: Client Portal to manage the program, White-Label Mobile Wallets for iOS and Android, compliance with KYC and AML regulations, card tokenization for digital wallets such as Apple Pay and Google Pay, 3D Secure protection for online payments, issuance of virtual and physical Visa cards, and continuous fraud monitoring.

Infrastructure and reach

Wallester's platform is designed for companies across various sectors, including media buying, e-commerce, yacht management, transport and logistics, fleet management, travel and hospitality, among others. The company also offers tokenization, 3D Secure, fraud monitoring, KYC/KYB and AML, and PSD2 services.

Wallester Business operates in the European Economic Area (EEA) and extends its services to clients in the United Kingdom, Ireland, Switzerland, Australia, and the United States. White-Label solutions are available in the EEA, the UK, Switzerland, and Ireland.

Activity data

According to information published by the company, Wallester has issued more than 10.1 million virtual and physical cards, has processed more than 93 million authorizations, and has handled transactions worth over 2.8 billion euros. The company has been recognized as one of the fastest-growing startups in the DACH and CEE region for two consecutive years, according to its own blog. In addition, it has a score of 4.7 out of 5 on G2 and 4.9 out of 5 on Capterra.

Use cases and sectors served

The platform is used in cases such as corporate expense management, issuing cards for employees, fleet management, the travel and hospitality sector, and e-commerce. Wallester also provides solutions for banks, loan providers, digital asset platforms, e-commerce marketplaces, employment and gig economy platforms, fintech companies, gift and rewards cards, insurers, loyalty and membership programs, and peer-to-peer loan providers, among others.