A significant event marked the end of 2022 for Wallester. Our dear partners from Visa, represented by Philip Konopik, Juris Paegle, Evita Kalmane-Pivkina, and Juha Sillanpää, visited the headquarters of our company.
During the meeting, we analyzed the results achieved, discussed upcoming projects and developments, and explored the current market opportunities to successfully implement Wallester’s innovative products.
We discussed the launch of SEPA payments in depth. This is the payment standard used in the European Union and several other countries. Using these payments reduces the cost of EUR transactions from one country to another and accelerates and facilitates the payment process for customers. This step fully corresponds to our main goal: the ultimate simplification and maximum convenience while making payments.
Another critical topic raised during the meeting was the introduction of multi-currency Wallester cards. Currencies such as SEK, CZK, NOK, RON, PLN, HUF, USD, and GBP will soon be added to the already-used EUR and DKK. This addition is a significant step in promoting Wallester’s services in Europe.
We also paid great attention to the issue of ensuring the security of electronic payments. Wallester has effectively improved the 3D Secure biometric authentication system as part of PSD2 SCA (Strong Customer Authentication) compliance. SCA is based on the use of two or more elements categorized as knowledge (something only the user knows), possession (something only the user possesses), and inherence (something the user does). Soon, biometric customer authentication will become mandatory for all companies providing payment services. We have added this authentication system to the Wallester mobile app, with all the data required by 3D Secure being sent through the API in real time. The solution reduces the potential for online fraud and increases cardholder confidence while using online services.
Additionally, we discussed with Visa partners the prospects for further successful development of the Wallester Business program and the White-Label line of services. As a technological company, Wallester is committed to making the fintech industry as simple as possible. Active support from Visa helps us achieve our goals.