Card issuance platforms: who is interested in such solutions, and do they have prospects?

The retail industry is increasing its turnover every year. But with the arrival of the COVID-19 pandemic, there has been a tipping point in the percentage of offline and online purchases. Being in self-isolation, many people appreciated the benefits of online shopping and started utilizing the services of virtual sellers even after the quarantine was over. Modern businesses need to take note of such trends to have a competitive edge and quickly adapt to new market conditions.

Innovative developments can help businesses achieve such results. These developments make it possible to make mutual settlements with customers and suppliers via the Internet and manage finances. The most affordable and easy-to-use development is the card issuing platform. It is a multifunctional solution for launching and managing card programs of any purpose.

Card issuing platform: what is this software?

Often a payment card was issued in a bank, and all questions regarding its use also had to go to this institution every time. When a company launches a whole card project, which may include dozens or even hundreds of corporate cards, it is inconvenient to use the services of an intermediary. It is much easier to install special software and independently issue and control the use of cards.

Wallester has developed a special platform for this purpose. With its help, you can issue cards, manage them and use many useful features, which will be described in more detail in the next section.

Platform functionality

The main function of the Wallester platform is card issuing. These can be virtual cards and cards with a physical plastic carrier, debit and credit cards. The platform also includes many other options that allow you to perform the following actions:

•   Control spending. Through the platform, you can limit the amount available on cards. Cards can be reissued, blocked and unblocked when necessary;
• Check card information. All information about the card balance can be easily monitored in the mobile application. The function of changing the PIN code and many other useful services are available through it;
•   Tokenize the card. It can be done with any card for its further connection to an electronic wallet;
•   Process payments. More than one and a half thousand payments are processed simultaneously. The geography of payments does not matter; any transfers and crediting of funds are performed instantly;
•     Provide payment protection. The platform uses the 3D Secure protection protocol. By it, an additional authentication step is used, which allows to secure any transaction from the actions of fraudsters.

It is a partial list of options available on the Wallester platform. It includes a rich functionality for managing and analyzing expenses, which is crucial for competent budget planning.

Who uses card issuance platforms?

Card issuance platforms have limitless potential. Businesses in any industry and of any size can use them to launch their card project for settlements with suppliers, customers and partners. Cards can be issued for payroll projects or media buying. It is a universal platform that can be easily adapted to the needs of any company.

The provider is constantly modernizing the platform and expanding the list of its functions. This solution is easily integrated with any software, so companies from different spheres are interested in using it:

•       Loan issuance. When a lending company can issue cards independently, issuing the requested loan to the client is much faster. There is no need to communicate with the bank and wait for its approval. Personal loans, business loans, and peer-to-peer loans can be credited to their cards;
•       Online commerce. Having their card program makes it more convenient and faster for marketplaces to settle payments with partners and customers. The ideal feature for such companies is the issuance of electronic cards;
•       Fintech. With the help of the platform, it is possible to issue cards for mutual settlements with customers quickly;
•       Banks. The innovative platform works much faster and more efficiently than stale banking software;
•       Travel agencies. Partners of travel agencies are located all over the world. It is much more convenient to make mutual settlements with them when there is a proprietary card program that provides instant processing of payments in unlimited quantities and without geographical restrictions;
•       Insurance. Insurance companies can promptly credit insurance payments to their cards. It builds customer loyalty and increases customer retention;
•       Streaming platforms. They are always looking for more advanced and modernized payment solutions.

Wallester is a universal platform. It can issue credit cards, gift cards, and other types of cards, including bonus, savings, elevator, and gift cards.

To popularize your brand, you can use the White Label solution. Cards with an exclusive design will attract the attention of others and allow you to expand your client base. All cards, the platform, and the mobile application are decorated in corporate style.

The provider constantly modernizes the platform, adding new options and tools. This means that soon, all areas of business will see and be able to evaluate in practice the advantages of using the platform to issue cards.