Tallinn, Estonia--(Newsfile Corp. - April 16, 2024) - Wallester proudly announces its acquisition of a cross-border activity license. A rapidly growing player in the world of financial services, this acquisition gives Wallester the opportunity to extend its innovative services to the United Kingdom. This move increases Wallester's reach, giving it a more significant global market presence and helping it facilitate seamless financial transactions worldwide.
Wallester
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The Estonian Financial Supervisory Authority (FSA) granted this license, which gives Wallester the power to issue payment instruments and execute payment transactions throughout the UK. Serving the UK, one of the world's foremost financial hubs, is a major historic achievement for Wallester post-Brexit as the first Estonian company to receive this license.
Sergei Astafjev, the CEO and Co-Founder of Wallester, shared his enthusiasm over this license acquisition:
"Obtaining this cross-border activity license is a significant milestone for us, showcasing hard work and our dedication amidst post-Brexit challenges. The UK's vibrant market offers immense opportunities, and we are eager to provide British businesses and consumers with our innovative, customer-focused solutions, ensuring convenience and security for all transactions."
Wallester has seen remarkable growth in recent years. For one, the business saw an impressive tenfold increase in monthly revenue over the past year. By expanding further into the UK market, Wallester has the opportunity to strategically advance by reaching new clients throughout the country, bringing even more growth.
Now, local UK companies and residents across a variety of sectors can access Wallester's card-issuing services. Neobanks, EMIs, loan providers, and non-banking financial institutions can now seek services through Wallester. As a result, Wallester is poising itself as a leader in the fintech industry.
As Wallester steps into the UK market to establish itself there, this cross-border activity license will help it establish a permanent presence. Now, Wallester can also apply for a local EMI license in the future if it wishes.
Going forward, Wallester states its commitment to delivering specialized financial services to all clients and customers, both in and out of the UK. They also emphasize innovation, efficiency, and customer satisfaction in all their work to redefine financial transactions in the UK and beyond.
The potential and adaptability of Wallester cannot be understated with this acquisition. Wallester is overcoming regulatory challenges so often found in the fintech industry with this new license, giving them new avenues to explore to bring financial operations across borders.
About Wallester
Wallester is a premier Estonian-licensed financial institution offering cutting-edge Visa card solutions and financial digital technology. Since 2018, Wallester has served as an official VISA partner and a member of the VISA FinTech Fast Track Program, bringing a diverse range of cards to users, including debit, credit, prepaid, and business cards. Wallester also offers REST API, empowering clients to launch their own custom card programs which integrate with any existing platform. Wallester's mission is clear: propelling businesses to new heights using cutting-edge financial technologies.
Contact Information
For media inquiries, please contact:
Ekaterina Gaychuk
Email: sales@wallester.com
Phone: +372 672 0101
Website: https://wallester.com
Location: Tallinn, Estonia
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/205525
