The basic idea of fintech companies is to provide improved and automated services to customers. They are competing with cumbersome and hard-to-innovate banking institutions. Strange as it may seem, many fintech organizations, although striving to be progressive, still use old, unreliable and inconvenient payment instruments. Wallester offers a Payment Card Solution, which can make them leaders in the market, save time and money, and expand the list of services provided.
Features of Fintech
Fintech companies create financial products, services and business models to be as accessible, efficient and easily used as possible. The task of these organizations is one, but in practice, there are so many directions in which they work. Let’s list the most popular ones:
- providing financial services, including wealth and personal finance management, loans, and microloans;
- technology companies, which are not involved in the financial industry, but work in the financial services sector;
- providing infrastructure and technology for certain financial services, creating blockchain-based solutions that include cryptocurrencies, digital identity management and smart contracts;
- utilizing innovative technologies and processes, including mobile payments, automated investing, insurance, etc.
Fintech also works in real estate, developing unique online platforms for buying and selling and crowdfunding real estate investments.
Many fintech companies use payment cards to make settlements with customers but still use old technologies to issue them. For this reason, not all of them can issue virtual cards for different purposes, and their payment means cannot interact with mobile systems. They also need help managing their card products, spend a lot of time and get bogged down in bureaucracy when trying to view or change PINs and set limits on their cards. Such obvious gaps in service result in a poorer company image and lower profitability.
To become competitive in the dynamic fintech market, companies need to utilize innovative payment solutions and those that help them stand out from the crowd. Wallester offers such a Co-brand Solution.
Wallester’s Offer for Fintech
For fintech companies, Wallester offers a card solution that will allow them to reach a completely new technological level. It is White-Label Card Issuing, which will help increase the number of functions available to payment instruments and simplify financial processes and make the company more recognizable and prestigious. Let us list the main advantages of such a solution:
- physical and virtual cards can be issued instantly, so clients of fintech companies get instant access to their money. It is important for credit, insurance companies, whose clients want to dispose of funds as quickly as possible;
- card Issuing VISA for any purpose. These can be either debit cards or cards with a credit limit;
- all types of cards are tokenized. It will allow them to be connected to any mobile payment services, which provides additional security and convenience to money transactions;
- functional business analytics helps to analyze clients’ expenses. This feature will help to develop and make personalized offers that can increase the customer’s loyalty to the company;
- this solution is a source of additional revenue for the fintech company. The functionality of the Wallester platform allows setting commissions for card maintenance, ATM withdrawals and other actions, which will generate additional revenue;
- high degree of customer information. Cardholders can receive notifications about all actions with them online. Depending on the settings, it can be SMS or Push-notification.
The most important advantage of Wallester’s solution for fintech companies is the possibility to launch branded cards. The unique design will be on the payment instrument, the self-service portal, and the mobile application. It will help the company to stand out from the crowd, attract the attention of new customers, make the existing customer base more loyal and take a leading position in the market.
