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Estonian fintech Wallester chooses Nets as card processor

 

​The Estonian fintech Wallester has entered into a 5-year frame agreement with Nets, which will deliver card processing, dispute handling and other financial services and thereby help enabling Wallester’s European growth ambitions. 

Wallester is a new breed of white label payment card-as-a-service solution provider, which with a combination of rapid launch capabilities, fully outsourced service model, strong technology platform and simple pricing structure delivers a compelling value proposition to companies wishing to enter card issuing rapidly or at a lower entry cost.

Nets will among other services deliver issuer processing and scheme connectivity with high uptime, based on Nets REST API connectivity, combined with stand-in processing, disputes processing and cardholder support. The agreement also allows expanding the services offered during the period. 

“We are pleased that Wallester has decided to switch to Nets as their future processor. Nets is a leading European payment company, so partnering with Wallester and the strong founders team, who have a clear strategy and international profile on white label issuing, compliments our growth strategy well,” says Henrik Anker Jørgensen, Head of Baltic region at Nets Issuer & eSecurity Services.

Wallester is well-known in the fintech industry after becoming regional champion and later a 2019 finalist in the European fintech competition The Lighthouse Development Program. 

“The competition for partnering up with us was tough with more than ten companies shortlisted in the beginning, but we ended up choosing Nets as our partner, as we felt understood by Nets and trust their ability to deliver on time without compromising quality,” says Ahto Pärl, CEO of Wallester AS.

“Nets was willing to turn many of their existing processes around for us to enable our disruptive business model, which will in turn add value to our customers and thereby assist Wallester in delivering on our aggressive growth plan,” he adds.

Nets’ solution for Wallester will go live in Q4 2019.


For further information, please contact:
Ahto Pärl, CEO of Wallester AS, tel.:  +372 511 1663 or e-mail ahto.parl@wallester.eu
Søren Winge, Head of Media Relations, Nets, tel.: +45 29 48 26 46 or e-mail: swing@nets.eu

About Wallester:
Wallester AS is a European fintech company focused on developing digital payment platforms. The company provides businesses with white label solutions for payment card issuing. Wallester’s innovative cloud-based service platform guarantees our customers the best-of-class speed to market based on flexible product launch capabilities and requisite compliancy and infrastructure support. 

About Nets: 
Nets sees easier payment solutions as the foundation for growth and progress – both in commerce and society. The Nets Group, which employs 3,500 people, helps hundreds of financial institutions, and hundreds of thousands of businesses and merchants in Europe make tomorrow a little easier for their customers while delivering unrivalled security and stability. Powering a tomorrow that's easier than today. This is what drives Nets.