Recently, Wallester proudly announced a monumental feat – the acquisition of a cross-border activity license, marking a pivotal milestone in its expansion journey into the United Kingdom.
This significant development signifies Wallester’s commitment to innovation and its relentless pursuit of providing cutting-edge payment solutions and financial services to a wider audience. Granted by the Estonian Financial Supervisory Authority (FSA), the license empowers Wallester to execute payment transactions and issue payment instruments in the UK, making it the first Estonian company to receive such authorization. This achievement holds particular significance post-Brexit, underlining Wallester’s resilience and adaptability in navigating regulatory challenges and pioneering new avenues for financial operations across borders.
With this license in hand, Wallester is poised to revolutionize the card issuing landscape in the UK. This strategic move opens doors for Wallester to extend its suite of innovative services to UK residents and local companies across various sectors. This system provides access to develop businesses all across the borders and allow firms to perform their payments conveniently.
Sergei Astafjev, CEO and Co-Founder of Wallester:
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.
The ability to offer card issuing services for a diverse range of entities, including payment and financial institutions, loan providers, challenger and neo-banks, EMIs, and non-banking financial institutions, marks a significant leap forward in Wallester’s expansion strategy.
Wallester’s entry into the UK market unlocks a plethora of opportunities for clients previously out of reach due to the lack of UK coverage. UK is the partner of top 5 economies and Wallester is leading the financial sector of white-label card issuing solutions across the globe.
Leveraging its expertise and technological prowess, Wallester aims to deliver tailored financial solutions that meet the evolving needs of its UK clientele. From seamless payment processing to customisable financial products, Wallester is committed to empowering individuals and businesses alike with the tools they need to thrive in today’s fast-paced digital economy. Now that Wallester has this authorisation, he is prepared to explore new avenues, create new alliances, and completely alter the financial scene in the United Kingdom.
The acquisition aims not just to broaden Wallester’s reach but also to accelerate changes in the UK financial sector. It’s about utilising innovation to propel significant change and empower both people and companies. Wallester is ready to make a lasting impression on the financial landscape of the United Kingdom as it boldly and determinedly forges ahead into this new frontier.
The acquisition of the cross-border activity license represents just the beginning of Wallester’s journey in the UK market. With remarkable growth showcased by a tenfold increase in monthly revenue over the last 12 months, Wallester is well-positioned to capitalise on the vast opportunities presented by the UK’s financial landscape.
Wallester remains steadfast in its commitment to innovation, efficiency, and customer satisfaction. As it continues to expand its operations in the UK, Wallester plans to establish a more permanent presence and apply for a local EMI license, further solidifying its foothold in the region. The company’s focus on leveraging this new opportunity to bring specialised financial services to a broader audience underscores its dedication to driving positive change in the fintech industry.
The entry into the UK market demonstrates Wallester’s growth potential and highlights the FinTech industry’s adaptability in overcoming regulatory challenges and pioneering new avenues for financial operations across borders. As Wallester embarks on this exciting chapter of expansion, it remains committed to its mission of redefining financial transactions in the UK and beyond.
As Wallester embarks on its journey into the UK market, the recent acquisition of the cross-border activity license serves as a beacon of its ambitious expansion strategy. Far from a mere milestone, this achievement marks the inaugural chapter in Wallester’s narrative of growth and innovation within the dynamic UK financial landscape.
The acquisition of the cross-border activity license signifies more than just regulatory approval; it symbolises Wallester’s commitment to establishing a formidable presence in the UK market. This strategic manoeuvre unlocks access to a broader spectrum of financial services and lays the groundwork for future ventures and partnerships within the region.
Wallester’s acquisition of the cross-border activity license represents a monumental achievement and sets the stage for a new era of innovation and growth in the UK fintech sector. With its unwavering dedication to excellence and customer-centric approach, Wallester is poised to revolutionise the way financial transactions are conducted, making the future of finance more accessible, secure, and efficient for all.
