Establishing a strong presence in the fintech landscape, Wallester stands out as an innovative leader in the industry. With its headquarters in Tallinn, Estonia, the company has been instrumental in shaping financial services for businesses worldwide since its inception in 2016. Founders Dmitri Logvinenko and Sergei Astafjev envisioned a platform that empowers businesses of all sizes with innovative, efficient, and reliable payment solutions, and that vision today stands tall under the name of Wallester.

One of the company’s primary offerings is the Wallester White-Label solution. This innovative framework empowers companies to design and launch their own VISA payment card programs within the European Economic Area, customising and adjusting the smallest of details to one’s unique business case. The solution not only grants businesses a degree of customization and control rarely seen in the financial industry but also paves the way for expansive opportunities for businesses outside this region, including those from Africa, to penetrate into the European market. This revolutionary offering highlights Wallester’s commitment to advancing the field of modern finance by creating an inclusive environment where businesses of all sizes are allowed and urged to participate.

In this article, we’ll explore the significance of white-labelling in the payment industry, delve deeper into the history of Wallester, and review the company’s most recent accomplishments and milestones of the current year.

Product Overview – Wallester White-Label

As the financial landscape expands and evolves, the importance of white-labeling in the payment industry becomes increasingly evident. In 2021, the global payment revenues totalled $2.1 trillion, signalling a highly robust industry. Projections estimate that this figure will reach approximately $3 trillion by 2026, indicating an immense potential for businesses engaging in this sector. Among these transactions, card payments claimed a significant 49% share in the non-cash payment bracket within the euro area in 2021, outpacing both credit transfers and direct debits.

Having underscored the pivotal role of Wallester’s White-Label solution in this rapidly evolving industry, let’s now explore the distinctive attributes that make it a frontrunner in this competitive landscape.

Power of Customisation

Leading the change with versatility, Wallester’s White-Label solution offers businesses an opportunity to create bespoke card programs, be they virtual or physical, spanning debit, credit, or prepaid functionality. This wealth of choice empowers businesses to fine-tune card programs to best fit their business model and target audiences.

Businesses can refine every aspect of their cards, from custom design to the choice of card material – be it plastic, wood, metal, or any other conceivable alternative. With Wallester White-Label one can be as unique and environmentally concious as desired. Additionally, the ability to integrate one’s own loyalty or cashback programs into their card solutions allows businesses to pack even more added value into their unique offerings.

Embrace of Inclusivity

Wallester’s White-Label solution breaks the mold, extending its reach beyond the usual financial institutions to businesses of all shapes and sizes. Crafted with inclusivity at its heart, this solution recognises that enhancing financial operations and customer experiences is an all-encompassing business need.

Emerging fintech startups, crypto platforms, retail outlets, or any other business type can harness the power of Wallester’s White-Label solution to augment their financial operations and customer experiences. This is possible as the requirement for a financial license, a typical barrier to entry, is absent with this solution. The elimination of this regulatory hurdle notably enhances the inclusivity and accessibility of Wallester’s solution, especially when compared to its current market competition.

Integrating Wallester White-Label

Seamless integration lies at the heart of Wallester’s offering. Businesses have two primary pathways to incorporate their card-issuing capabilities: embedding these functionalities into their existing applications using Wallester’s state-of-the-art REST API, or adopting Wallester’s white-labelled mobile application for distribution to their end clients. These two avenues offer a balance between personalisation and convenience, allowing businesses to adopt the solution that best fits their needs.

Ultimately, Wallester’s White-Label solution isn’t just a product; it’s a key to unlocking the future of financial operations for any business. By offering this ready-made white-labelled application, businesses can bypass the need for extensive investment in app development, streamlining their expansion in the most cost-effective manner.

The Story of Wallester

Having established the significance of Wallester’s offering, it’s time to journey further through the company’s origin story, trace its path of steady growth and success, and highlight its recent corporate expansion.

History of Wallester’s Inception

As mentioned earlier, the company was founded in 2016, the story of Wallester began as a visionary concept in the mind of its founder, Dmitri Logvinenko, who was later joined by Sergei Astafjev. Their collective dream was to develop a platform that would revolutionize the way businesses across the globe handle financial services. This dream wasn’t just about providing innovative, efficient, and reliable payment solutions, but also about empowering businesses, regardless of their size or operational sphere.

From its headquarters in the vibrant city of Tallinn, Estonia, the company set out on its journey. In the initial stages, Wallester focused on building a robust technological framework that could stand the test of time and adapt to the ever-evolving needs of businesses worldwide. This period of rigorous research, development, and planning culminated in the creation of Wallester’s unique suite of products.

Wallester’s Growth Through the Years

Following its inception, Wallester entered a phase of exponential growth marked by several significant partnerships that strengthened its presence in the fintech industry. The company’s first partnerships with Lateko Lizings, W1TTY, and MyMonii set the foundation for Wallester’s expansive network, while their collaboration with Holm Bank – a licensed bank, underscored the trust and credibility that Wallester had managed to garner within the financial industry.

As the company continued to grow, Wallester never lost sight of its commitment to innovation and customer satisfaction. This dedication is evident in its recent partnerships with Fiat24, BANKZ, and Latvian Post, all of which were established this year. The partnership with Latvian Post, a governmental institution, stands as a testament to Wallester’s rising stature and its ability to meet the demanding needs of various sectors, public and private alike.

Another milestone in Wallester’s journey was becoming PSD2 compliant. Compliance with the Revised Directive on Payment Services (PSD2) not only ensured Wallester’s adherence to important regulatory standards but also significantly enhanced the security of its payment services. This move further solidified Wallester’s commitment to providing safe, reliable, and innovative financial solutions to businesses worldwide.

Opening of the New Office in France

In a reflection of its growth and ambition to expand its global footprint, Wallester opened a new office in Valbonne, France in 2023. This expansion into one of the world’s major economies illustrates Wallester’s sustained momentum and its pursuit of an ever-broader audience for its services.

The new French office will act as a hub for innovation, bringing together some of the brightest minds in fintech to foster the development of groundbreaking financial solutions. In the face of a rapidly changing financial landscape, the opening of this office signals Wallester’s readiness to continue its journey as a trailblazer in the fintech industry. It underscores the company’s dedication to building a global presence and its commitment to delivering high-quality services that cater to the diverse needs of businesses across the world.

“The opening of our new office in France is a significant milestone,” stated Sergei Astafjev. “This step not only symbolizes our continued growth and ambition to widen our global reach but also our commitment to fostering innovation”, he added. “By bringing together some of the brightest minds in fintech in our French hub, we aim to keep developing cutting-edge financial solutions. This expansion underscores Wallester’s dedication to strengthening its global presence and delivering superior services to a diverse range of businesses,” concluded Astafjev.

Wallester’s Impact Through Partnerships and Events

Strategic Partnerships

Wallester’s expanding influence and strategic alliances within the fintech industry are echoed in the high-profile office visits it receives. It has played host to world-leading entities such as AWS and VISA, signifying the strength and depth of its industry connections and the esteem in which it is held.

Starting with a visit from Amazon Web Services (AWS), one of the world’s most comprehensive and broadly adopted cloud platforms. AWS’s visit to Wallester was a testament to the solid relationship between the two, showcasing the reliance of Wallester on AWS’s secure, scalable, and cost-effective solutions to run its operations and innovate in the fintech sector.

Similarly, VISA, a global leader in digital payments, also made a notable visit to Wallester’s office. The visit symbolized the strong partnership between the two companies, showcasing their commitment to working together to transform payment experiences for businesses and customers alike. These visits have not only strengthened relationships but have also fostered an environment for collaboration and innovation.

Event Participation

Wallester’s involvement in industry events further underscores its commitment to staying at the forefront of fintech advancements. The company has participated in a wide array of events, each one providing unique opportunities for networking, learning, and promoting Wallester’s cutting-edge solutions.

However, among the numerous events Wallester has participated in, its presence at the most recent Money 20/20 conference stands out. Money 20/20, known as the space where the industry’s smartest visionaries and innovators come together to create the future of payments, presented Wallester with a remarkable platform to interact with industry leaders, share ideas, and promote its innovative products.

At Money 20/20, Wallester’s large-spanning stand was located at the very heart of the conference demonstrating company’s robust fintech solutions to a global audience, and it was here that Wallester truly solidified its place as a force to reckon with in the modern market. The event not only offered the opportunity to engage with potential clients and partners but also to learn from the best and stay abreast of the latest trends and developments in the fintech world.

Through these office visits and event participations, Wallester has continuously showcased its innovative solutions, established strategic partnerships, and strengthened its presence in the global fintech industry.

In light of these events, Dmitri Logvinenko, Co-founder of Wallester, shared his thoughts. He stated, “Our close partnership with AWS and VISA, along with our active participation in high-profile industry events like Money 20/20, are a testament to our growth and the recognition we’ve received in the fintech landscape. They are also a clear indication of our commitment to collaboration, learning, and continuous innovation. As we move forward, we will continue to push the boundaries of what is possible in fintech, making financial services more accessible and efficient for businesses worldwide.”

Reflections and Projections

Wallester’s odyssey, from its inception to becoming an influential player in the fintech industry, is testament to its commitment to creating and nurturing an inclusive environment for businesses worldwide. Its white-label solution, robust partnerships, strategic event participation, and global expansion mark the milestones of an unwavering pursuit of innovation and inclusivity. From enabling businesses to launch their own customised card programs to breaking down barriers to entry, Wallester is redefining the landscape of modern finance. Through continuous growth, engagement, and the relentless pursuit of innovative solutions, Wallester truly stands as a pioneer in financial technology. Looking ahead, there is no doubt that this journey of transformation and trailblazing will continue, as Wallester shapes the future of financial services for businesses across the globe.

Are you ready to join the fintech revolution? Empower your business today and start issuing your own white-label cards with Wallester – https://wallester.com. Revolutionize your financial operations and take your customer experiences to the next level. Step into the future with Wallester.