Wallester: One-Stop-Shop for Visa-Powered Card Solutions
Ainar Nurk, CEO
From the barter system to currency notes, and the most recent bitcoins, the means of compensation for purchased goods and services have evolved significantly over the years. With banks and other financial institutions introducing cashless payment methods, such as digital payments and cards, user convenience has become more advanced, setting new standards of payment best practices. As financial institutions try to offer flawless customer experience, ensuring the quality of financial products and services they provide is, without doubt, topping their agenda.
Although many firms bring card and payment services, only a few commit to long-term assistance to their clients. Identifying a reliable and trusted fintech company that provides long-term service comes as a significant challenge for finance organizations. To overcome these predicaments, Wallester, a Visa-powered fintech company has developed a holistic and simplified card-issuing and processing platform. “We don’t stop at just providing our unique technology-aided solutions, we also ensure that the technology is compliant and integrated easily,” says Ainar Nurk, CEO, Wallester. The company understands that accessing Visa-issuing service requires a banking or payment service provider license which is a time consuming and intricate process and to that end, Wallester came up with the idea of a platform that is powered by Visa with unlimited possibilities of creating tailor-made payment solutions. Wallester helps its clients to mitigate the complexities involved in the procedure and expedites the process while preparing the client for launching their desired financial services.
We don’t stop at just providing our unique technology-aided solutions, we also ensure that the technology is compliant and integrated easily
Through their “Card-as-a-Service” (CaaS) solution, Wallester gives more than thirty internal features that allow the client to build an appropriate card product with financial schemes, options to setcurrency in which the transactions should take place, unique pricing, and loyalty. Wallester starts its action plan by estimating the needs of the client. From an array of products and services that include mobile wallets, prepaid cards, virtual cards, wearables, and physical cards to name a few, the financial institution or merchants can take their pick. Wallester completes the procedure by considering the currency in which the transaction is conducted, the functionality of the card—credit or debit— loyalty, etc. In the backend, the company takes care of transactions, data protection, settlement clearance, etc. For managing order and responding to authorizations coming from different merchants across the globe, the firm uses its intrinsic processing platform.
Upon realizing that financial services require seamless support, Wallester also uses a client support system which gives clarifications on issues like deactivating and reactivating cards, queries on balance and transactions to mention a few. In addition to that, the company also owns an analysis platform where they generate financial reports, sales reports, and SLA reports. Thus, clients get the opportunity to view their cost-effectiveness after they utilize the services of Wallester and also get their backend processes to run on its platform. Talking about the support features, Nurk explains that Wallester uses a two-level support system.
Nurk recounts the story of a credit institution that approached Wallester. The company needed urgently 12,500 chip- and pin-based cards supported with NFC technology to be issued. Wallester manages and processes authorizations that are coming through the Visa system successfully, responding to the customer’s requirement at the right time. Wallester has also developed microchips that can be fixed on wearable devices for the client. Moreover, to ensure security, the company shares the PINs through a secure message service.
With a vision to give seamless customer experience, Wallester upgrades all its processes continually and removes outdated methods. As cashless digital transactions have hit an all-time high, Wallester is optimistic about leveraging this opportunity, by embracing more advanced technologies and offering exceptional services.