Wallester vs Paynetics: Features, Coverage and Pricing Compared (2026)
Updated November 10, 2026 · Reviewed by Benjamin Margolis
Wallester and Paynetics both help European companies launch payment cards under their license. Wallester, in Tallinn, is a Visa Principal Member with a ready-made card app and an expense card product. Paynetics, in Sofia, is an e-money institution that offers accounts, cards, acquiring, and BIN sponsorship.
Our analysts compared the two on November 10, 2026, using each company's own product, pricing, and company pages and our full reviews of Wallester and Paynetics.
Choose Wallester if
- you want branded Visa cards launched quickly with a ready-made app
- you want expense cards with Xero or QuickBooks sync
- you value a profitable, self-funded partner
Choose Paynetics if
- you need payment accounts and acquiring as well as cards
- you are a program manager that needs a BIN sponsor
- you want a white-label banking front end
Wallester scores 73 and Paynetics scores 71 in our ratings. Wallester is the quicker path to branded Visa cards. Paynetics offers a broader set of licensed services, including accounts and acquiring.
Key Features Compared
Wallester vs Paynetics at a Glance, November 2026
| Feature |  Wallester |  Paynetics |
|---|---|---|
| Ratings | ||
| Fintech Index score | 73 / 100Higher score | 71 / 100 |
| Overview | ||
| What it is | Tallinn card issuer and Visa Principal Member offering white-label card programs and expense cards | Bulgarian e-money institution offering card issuing, payment accounts, acquiring, and BIN sponsorship |
| Who uses it | Fintechs, payment firms, and companies across Europe | Fintechs, program managers, payment firms, telecoms, and banks, including Trading 212, Weavr, Vivacom, TBI Bank, and A1 Wallet |
| Main products | Physical and virtual Visa debit, credit, and prepaid cards with a white-label app and portal, plus Wallester Business expense cards | Payment accounts, card issuing, acquiring, open banking, white-label apps, and BIN sponsorship |
| Where it operates | Europe | European Union through passporting, plus the UK |
| Pricing | ||
| How pricing works | White-label programs by quote; Wallester Business has its own plans | Quoted per program, with BIN sponsorship and white-label options |
| Published prices | White-label by quote | Quote only |
| Technology and compliance | ||
| Licenses and regulation | Visa Principal Member and Estonian payment institution license; KYC, AML, fraud monitoring, and 3D Secure built in | E-money license from the Bulgarian National Bank, April 2016, passported across the EU; UK authorisation |
| Developer tools | REST API with real-time processing and instant card issuance, built in-house | APIs and white-label apps, including the Phyre front end |
| Integrations and partners | Visa; Xero and QuickBooks for Wallester Business since 2025 | BIN sponsor for program managers and fintechs |
| Onboarding and support | Ready-made app and client portal; offices in Tallinn, Riga, and Cannes | One licensed partner for accounts, cards, and acquiring |
| Company | ||
| Founded | 2016 | 2016 (license issued April 2016) |
| Headquarters | Tallinn, Estonia | Sofia, Bulgaria |
| Ownership | Private, self-funded | Private |
| Funding | Self-funded and profitable | ~$2.8M (€2.5M) in 2020, led by New Vision 3 Fund and Bulgarian American Credit Bank |
| Key leader | Sergei Astafjev | Valeri Valtchev |
| Scale | 2025 revenue of €27.9M (~$31.2M), up 63%Published revenue | No public scale figures |
Fintech Index Scores Compared
We rate every company on eight criteria from 0 to 100, four tied to what buyers in its sector need and four shared by every company, and the rating is their average. Wallester scores 73 and Paynetics scores 71.
Criterion Scores Out of 100
Key Differences Between Wallester and Paynetics
Products
Wallester issues Visa debit, credit, and prepaid cards with a white-label app and portal, and sells corporate expense cards through Wallester Business. Paynetics offers payment accounts, card issuing, acquiring, open banking, white-label apps through Phyre, and BIN sponsorship.
Licensing
Wallester is a Visa Principal Member with an Estonian payment institution license, so it issues without a sponsor bank, but it offers Visa only. Paynetics holds an e-money license from the Bulgarian National Bank, passported across the EU, plus UK authorisation.
Finances
Wallester is self-funded and profitable, with revenue of €27.9M in 2025, up 63%. Paynetics last disclosed a €2.5M funding round in 2020 and does not publish scale figures. Sergei Astafjev co-founded Wallester, and Valeri Valtchev leads Paynetics.
Pros and Cons
Wallester
Pros
- Issues Visa cards directly as a Principal Member, with no sponsor bank
- White-label app and portal included
- Profitable and self-funded, with revenue up 63% in 2025
- Expense card product for businesses
Cons
- Visa only, no Mastercard
- Focused on Europe
- White-label pricing comes by quote
Paynetics
Pros
- Accounts, cards, acquiring, and BIN sponsorship from one licensed institution
- EU passporting plus UK authorisation
- White-label banking front end through Phyre
- Works with known fintechs such as Trading 212 and Weavr
Cons
- No public scale figures
- Small disclosed funding
- Focused on Europe
Who Each Is Best For
Wallester
A European fintech or company that wants branded Visa cards launched quickly, or a business that wants expense cards with accounting sync.
Paynetics
A European fintech or program manager that wants card issuing, accounts, acquiring, and BIN sponsorship under one licensed partner.
Alternatives to Wallester and Paynetics
These companies, all reviewed and rated on The Fintech Index, cover some of the same ground as Wallester and Paynetics.
Other Card Issuing and Processing Companies
| Company | Score | Best for | Comparisons |
|---|---|---|---|
| Enfuce | 74 | European programs that want processing and the license together | None yet |
| Thredd | 74 | Card programs in the UK, Europe, and Asia-Pacific | None yet |
| Marqeta | 74 | Scaled card programs that want fine control over each payment | None yet |
| Paymentology | 76 | Multi-country card programs in emerging markets | None yet |
Frequently Asked Questions
Does Wallester issue Mastercard cards?
No. Wallester issues Visa cards only, as a Visa Principal Member.
Which offers BIN sponsorship?
Paynetics offers BIN sponsorship to program managers and fintechs. Wallester issues under its own Visa membership.
Do Wallester and Paynetics publish prices?
Both price white-label and issuing programs by quote.
Sources
- The Fintech Index analysis of Wallester and Paynetics, conducted November 2026 (As of November 10, 2026)
- Wallester, about page: https://wallester.com/about-us (As of November 10, 2026)
- Wallester, 2025 year in review: https://wallester.com/blog/resources/news/2025-at-wallester-the-year-we-scaled-with-substance (As of November 10, 2026)
- Infokogum, Wallester AS financials: https://infokogum.ee/en/estonia/company/11812882-wallester-as/financials (As of November 10, 2026)
- Paynetics, why Paynetics: https://www.paynetics.digital/why-paynetics/ (As of November 10, 2026)
- Paynetics, FAQ: https://www.paynetics.digital/why-paynetics/faq/ (As of November 10, 2026)
- Paynetics, €2.5 million funding round: https://www.paynetics.digital/media/paynetics-closes-a-eur-2-5-million-funding-round/ (As of November 10, 2026)