Until recently, companies who wanted to launch a card project had to spend a lot of time, effort, and money on this idea realization. A lot of time was spent waiting for a positive response from the banking institution. Moreover, such solutions were complicated to manage and control. Now almost every company can become a fintech company; all it needs is a platform that will be used to issue cards https://wallester.com/card-payment-platform/card-issuing.

A glimpse into the history

A dozen years ago, large companies used traditional banks to issue their own credit cards or launch a corporate card program. The entire infrastructure for a card product issuing belonged to the banking institution. A lot of money was spent on its creation and maintenance. Despite this, banks were in no hurry to expand the possibilities of their platforms and offer clients a more comprehensive range of products. They felt like monopolists in the card issuance sphere, so they did not bother to expand the range.

Cards issued by banks usually had high-interest rates and low cashback rewards and were only given to low-risk holders. Such card requirements and terms are engaging and not available to everyone. At the same time, due to the lack of competition, banks were not interested in expanding the use of their products. But in the 21st century, everything has changed dramatically.

Present realities

In the last decade, the number of non-cash transactions has increased dramatically. People began to pay with cards actively in retail chains, cafes, restaurants, cinemas, and pharmacies. Both payment and credit cards are used for Internet shopping and mutual settlements between companies and their suppliers. Many companies now need to set up their own payment methods, approve or reject transactions, control the expenses of their employees and manage the company budget in general.

The Wallester card issuance platform provides all of these capabilities. It’s a convenient and easy-to-use solution with an intuitive interface that integrates easily with any software already running in the company.

The capabilities of today’s card issuing platforms

The Wallester platform is accessible to the user 24/7. This means that the card issuer can monitor any card transactions at any time. He can also set up authorization to control spending on a point-by-point basis. Transaction authorization can take into account the merchant ID, purchase amount, geolocation of the cardholder, or digital identification using biometrics.

The Wallester platform allows you to issue physical and virtual cards, which help secure the work process and simplify bill payments. Payment with a virtual card is instant, and there is no need to own a plastic carrier. Such cards can be issued for payment of specific bills and amounts or for compliance with payment terms, such as installment payments.

Wallester is a modern card issuing platform with an open API architecture. It can simultaneously process and authorize hundreds of transactions with different criteria and data that are unique to each individual transaction. Thanks to the user-friendly and functional interface of the platform, it easily adapts to new market conditions, and its list of features is constantly expanding.