The Wallester platform increases the profitability of businesses with a comprehensive corporate finance management solution. This Estonian fintech company is a leader in the European financial software market. The effectiveness of Wallester Business solutions has attracted interest outside Europe as well. That is why the company plans to enter other markets with white-label card issuance offers and other projects. Find out the pros and cons of collaborating with Wallester to know what prospects your company will have with its solution.
Wallester Pros
Fast Payment Card Issuance
Wallester allows the launching of an unlimited number of physical cards with a couple of clicks. All cards are customized to meet the needs of the business. These can be credit, debit, or prepaid cards. Companies can also create virtual cards according to their tariff plans ‒ from 300 for the free package to 15,000 for the advanced one.
Easy Integration with API
A business that already has custom software can easily integrate the corporate finance management solution with API. Wallester’s Business capabilities will easily fit into your familiar digital architecture. That is why staff will not have to undergo additional training.
Live Customer Support for Any Tariff Plan
Wallester offers a unique opportunity to use its services for free for those companies that need no more than 300 virtual cards. But even for this free package, the provider guarantees real-time support and onboarding assistance. If you switch to the Enterprise Plan, you will be assigned one or more managers. This way, you can get valuable advice or solve any problem instantly.
Effective Financial Oversight with Expense Tracking Tools
Control over financial spending plays a crucial role in business growth. The Wallester platform allows you to track all expenses on corporate cards in real time. Detailed reports on all transactions will help analyze the efficiency of spending and make realistic plans for the future. The software solution from Wallester makes all corporate payments transparent. At the same time, it warns about suspicious transactions, preventing leakage of funds.
Strong Security Measures and Strict Compliance
Working with Wallester is safe in terms of customer data protection and compliance with financial services regulations. The company has a license from the Estonian authorities, which guarantees compliance with the high requirements for the financial sector. Wallester has an official permit to issue payment cards and open business accounts. Its status and reputation in the financial sector are confirmed by its official partnership with VISA.
Financial transactions are protected by tools required by the European PSD2 Directive, 3DS technology created by VISA, and multi-factor authentication.
Cost-Effectiveness for SMB Segment
Even if your company consists of only a few employees, Wallester services will be profitable. The basic tariff plan provides all the key features for financial management but charges only for the cards you use. If your business is growing rapidly, you can upgrade to more advanced subscriptions. At the same time, the cost of upgrading will not be significant for small and medium enterprises.
Wallester Cons
Fees for Small Purchases
Transaction fees on Wallester Business start at €0.15 per transaction. If your company mainly makes large transactions, this is a good service fee. If your business is related to microtransactions, this fee will not match your business model.
Absence of Multi-Currency Accounts
The company plans to enter the international market but is still working on this project. At the moment, the cards are serviced only for transactions in EUR.
No Financial Management Solutions for Individual Entrepreneurs
Individual cardholders will not be able to use Wallester services. The platform is designed for tracking and managing company finances. Budgeting tools for individual entrepreneurs are not provided.
Possible Delays in Transfers
Although the vast majority of payments are processed instantly, some cases of delays of several hours are possible. But this does not depend on Wallester, since the reason is rooted in the work of banks and payment systems.
API Integration Only for Enterprise Plan
Subscribers of the basic tariff plan cannot use the open API to integrate the Wallester Business solution with ERP or accounting software. This option is provided only for more advanced tariff plans.
Conclusion: Check if Wallester Fits Your Business Model
Wallester encompasses multiple tools that will help businesses of any size achieve financial transparency. The consequence is cost optimization and accumulation of funds for further business growth.
The company’s unconditional advantages are compliance with high European standards, issuance of an unlimited number of physical cards, effective customer support, and easy API integration. However, not all business models will be able to benefit from Wallester’s services. Individual entrepreneurs, businesses based on microtransactions, and companies outside the EU will face certain limitations.
The rest of the business segment, including large corporations and SMBs, will find Wallester’s software solution convenient and effective. It is more secure and affordable than alternative offerings. And the high level of customization allows you to adapt the software to the needs of your business without having to follow a standard scenario.
