Wallester

Typical Implementation Process & Timeline

1. Account Setup & KYB (Weeks 0–1)

• Sign up via Wallester Business or White-Label portal using email and phone (2FA).
• Submit incorporation details, turnover forecasts, owner/shareholder info, and KYC/AML documents.

• KYB reviews within ~48 hours, though it can extend depending on compliance.

2. Commercial Agreement & Credentials (Week 1)

• Define program scope, finalize contract, regulatory agreements, and assign implementation team.

• Channels' credentials (API keys, sandbox access, JWT certificates) are provisioned.

3. Integration & Sandbox Testing (Weeks 1–4)

• Develop with REST API using sandbox → authentication, card issuance, spend rules.
• Test various endpoints (activation, tokenization, 3DS, spend limits) and simulate card events.
• Set up webhooks, JWT, and security verification protocols.

• ERP integration optional: sync transaction data, accounting, and finance flows.

4. UAT, Branding & App Setup (Weeks 3–6)

• Customize card design, app UI, and rule configurations via the White-Label portal.

• Conduct UAT with internal stakeholders and sandbox environment, ensuring UX/UI fits requirements.

5. Go-Live & Production Launch (Weeks 6–12)

• Transition to production environment after final compliance checks.
• Distribute live cards (virtual + physical), activate 3D Secure, and enable tokenization.
• Monitor, adjust spend rules, workflows, and scale card issuance.
• Internal metrics typically show completion within 8–12 weeks, depending on program complexity.

Customization Capabilities for Specific Business Needs:

White-Label App & Branding

• Full control over mobile app and portal branding, user flows, theming, and language. Includes modules for card management, limit controls, notifications, and push authentication features like biometrics.

Flexible Card Rules & Controls

• Configure dynamic spend controls (per-category restrictions, geography blocks, limits) through API or admin panel.

• Define rule templates for shared cards, per-user or campaign-specific usage.

Branded Card Designs & Types

• Issue customized Visa cards (debit/prepaid/credit; virtual/physical), upload logos, and choose designs tailored to your brand. -

Embedded Finance Integration

• Developers can embed Wallester via REST API (60+ endpoints); supports Wallet tokenization, webhook events, spend rule management, and card lifecycle processes.

API & Tech Stack Customization

• JWT-based authentication, multi-language SDK components (C#, Java, Node.js, Go, PHP), modular architecture, isolated environments, and AWS-hosted infrastructure per partner.

Accounting & ERP Integration

• Seamless integration with ERPs (NetSuite, SAP, Microsoft Dynamics), syncing transactions for instant reconciliation, and supporting complex workflows.

Compliance & Security Customization

• White-Label environment configurations include geo-restriction settings, 3D Secure flows, fraud rules, biometric authentication, and KYC workflows.

Use Case-Specific Implementations

• Tailored deployment in real scenarios: e-commerce sellers, media agencies, travel companies with custom expense controls, campaign-level cards, wallet integrations, and regulatory compliance.

Scale-Based Custom Plans

• Custom pricing and deployment model based on program complexity, volume, branding, support level, and international expansion.

Wallester’s pricing is transparent, though some additional costs may apply:

• Subscription & Card Fees: Wallester offers four tiers—Free (300 virtual cards), Premium (€199/mo for 3,000 cards), Platinum (€999/mo for 18,000 cards with priority support), and Enterprise (custom pricing).

• Card Issuance & Delivery: Physical cards cost €5 (standard) or €20 (express); additional virtual cards range from €0.10–€0.35/mo depending on plan.

• Transaction Fees: ATM withdrawals (Europe: 2% min €2; international: €2 + 2%), ATM balance inquiries (€0.50), FX mark-up (Visa rate + 2%).

• Admin Fees: Dispute processing costs €20, unidentified-payment refunds €15, account closure €25, document confirmation €15.

• Top-Up Fees: Bank transfers within EUR are free; other currencies may incur fees (~1.2% for card top-ups).

• Industry & Risk Fees: For higher-risk clients, Wallester may apply an additional industry-based fee, determined case-by-case.

• White-Label Setup: Enterprise/White-Label plans include custom onboarding, branding, compliance support, and account management. Exact costs are tailored.

Wallester provides structured support and onboarding across plan tiers:

• Documentation & Sandbox: The Developer Portal offers API docs, quick-start guides, and a private sandbox environment to test integrations.

• Priority Support & Dedicated Manager: Platinum and Enterprise plans include priority support and a dedicated account manager; Free and Premium plans rely on standard support channels.

• Onboarding & UAT Assistance: Wallester’s guide covers implementation steps (KYB, sandbox, UAT, production) and suggests collaboration with client teams.

• Channel Support: Email and in-product support are available to all users; advanced tiers get phone support, onboarding workshops, and SLA.

• Partner & Engineering Support: AWS partnership provides a reference architecture for embedded finance; interview content suggests dedicated technical teams assist onboarding.

• Community & Events: Participation in industry events (e.g., AML conferences, AWS webinars) indicates hands-on support during launches.

Wallester employs multiple layers of security and compliance:

• PCI DDS Level 1 Certification: Wallester is certified and regularly assessed by 7Security GmbH, the highest level of PCI compliance.

• PCI Data Security Standards: Maintains strong firewall, encryption, access controls, logging, network security, and regular testing.

• Fraud Monitoring & 3D Secure: Implements advanced fraud rules, 3-D Secure version 2, real-time alerts, and merchant decline handling.

• KYC & AML Compliance: Conducts Know Your Business and Anti-Money Laundering checks with tiered risk responses.

• Tokenisation & Encryption: Supports Visa tokens, mobile wallet security, and encrypted data with TLS and hardware-based safeguards.

• Cloud Security & Infrastructure: Built on AWS using best practices for network isolation, certificate security, and cloud-native protections.

• Security Frameworks & Future Plans: Plans are underway to align with or obtain ISO 27001; supports best practices like SOC 2 and ongoing assessments.

• Audits & Certifications: Undergoes third-party audits for PCI, publishes compliance status, and actively updates for new security standards.

Wallester operates on a continuous deployment model, releasing incremental updates regularly rather than on fixed quarterly cycles. Minor updates (bug fixes, UI improvements) are pushed weekly, while major feature releases and compliance upgrades occur every few months. Updates are managed through cloud-based infrastructure, meaning clients automatically receive new features without manual intervention. For API users, versioning is handled via REST endpoints, and backward compatibility is maintained to avoid breaking integrations. Enterprise clients are notified in advance for significant changes, and release notes are published in the developer portal.

Wallester’s terms state that clients retain full ownership of their transactional and user data. The platform acts as a processor under GDPR and other EEA regulations, ensuring data portability rights. Clients can export data in structured formats (CSV, JSON) via the dashboard or API at any time. For enterprise programs, Wallester supports custom data migration workflows during onboarding or offboarding. No vendor lock-in is enforced, and data deletion requests are honored promptly under GDPR compliance.

Wallester offers tiered plans (Free, Premium, Platinum, Enterprise) that allow businesses to scale easily:

• Scaling Up: Add more virtual/physical cards, increase transaction limits, enable advanced features (priority support, custom branding) by upgrading plans or negotiating enterprise terms.

• Scaling Down: Downgrade to lower tiers or revert to the free plan without penalties, though premium features and higher card volumes will be restricted.

• Elastic API Model: For white-label clients, scaling is handled via API configuration—new BIN ranges, card pools, and user roles can be provisioned dynamically.

• Contract Flexibility: Enterprise agreements typically include clauses for volume adjustments and SLA recalibration as organisational needs evolve.

1. Renewal Terms & Notice

• Wallester subscriptions (Free, Premium, Platinum) automatically renew monthly; Enterprise Suite plans follow custom contractual renewal cycles (e.g., annual). You may change plans anytime via the portal or with your account manager.

• To close your account under a paid plan, you must downgrade to the Free tier first, clear all funds, close cards, and submit a written termination request to support or your account manager.

2. Termination & Cancellation Steps

• Funds must be at zero, all cards closed, and outstanding transactions resolved. Requests are handled via email or support ticket.

• Physical and virtual cards can be closed from the dashboard at any time; replacements and fraud blocks are self-serve.

3. Closure Fees & Data Retention

• A nominal €25 account closure fee applies. All processed data remains retained to satisfy regulations.

• Post-closure, Wallester deletes unnecessary data but retains legally required information, citing GDPR and e-money regulations.

4. Upgrading/Downgrading Terms

• Plan changes are immediate with proration depending on billing cycles.
• “Changing the pricing plan” is user-selectable in the dashboard—no penalties beyond minor transaction or support adjustments.

1. Licensing & Regulatory Approvals

• Authorized by the Estonian Financial Supervision Authority (Finantsinspektsioon) as a Payment Institution under the European E-money and Payment Services Directive (PSD2/EMD) frameworks; holds cross-border permission to serve the UK.

• As a Visa Principal Member, Wallester uses official BIN sponsorship to issue cards globally.

2. PCI DSS & Wallet Security

• Maintains PCI DSS Level 1 certification (highest compliance tier) as of August 2023, annually audited by 7Security GmbH.

• Offers 3D Secure 2.0, tokenization via Apple Pay/Google Pay, and EMV chip support.

3. Anti-Money Laundering & KYC

• Built-in KYC/AML workflows and transaction monitoring. "Account closure" and “how do I close my account” policies reflect strong regulatory compliance.

• Automated dispute processing (€20 per dispute) acts as an anti-fraud deterrence.

4. Data Privacy & Export Rights

• Adheres to GDPR, maintains a transparent Privacy Policy (since 2020), and provides data portability via API/dashboard.

• Retention policies strike a balance between legal compliance and the deletion of unnecessary personal data.

5. Regulatory Transparency & Audits

• Subject to regulatory oversight by the Estonian FSA; appears in public registers. The FCA recognizes cross-border agreements with Estonia, affirming Wallester’s legitimacy.
• Publishes annual reports audited by independent firms, further validating compliance.