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Alarmingly, about 40% of merchants say they plan to switch from banks to fintech solutions within the next 12 months, that’s the warning from Capgemini’s World Payments Report, published at the end of September.
Obviously, the report captures a wider reality: trust in traditional banks is weakening, while fintechs are steadily transforming the business payments field.
But why is that so?
For small and medium-sized enterprises (SMEs), the reasons are rather straightforward. Bank-issued corporate cards often come with hidden fees, slow onboarding, inflexible limits, and poor real-time visibility.
And as a result, finance teams are left chasing receipts and approving payments manually. The truth is, those cards were never designed for modern, fast-moving businesses in the first place.
The Importance of Effective Spend Management
Running a business without proper expense cards is anything but simple. Shared cards get passed around between staff, budgets are set but not tracked, and reconciling transactions can take hours — or in the worst cases, days.
On top of that, there’s little visibility, poor control, and a high level of stress for finance managers.
Essentially, fintech platforms have stepped in where banks have failed.
SMEs don’t want a patchwork of tools, but a single, simple platform that issues cards, tracks spend, and integrates with daily operations. In other words, they want fast sign-up, transparent pricing, and real-time dashboards that are easy to use and navigate.
Wallester’s Approach
Wallester Business was built with these problems in mind. After a free sign-up and verification process — typically completed within hours — companies can issue 300 free digital Visa cards immediately, as well as an unlimited amount for physical cards.
Each employee, team, or project gets their own card, removing the need for shared details and messy approval chains.
Also, every transaction is visible the moment it happens, and spending limits can be set on each card individually. Because it all runs through a single dashboard, finance teams no longer have to dig through spreadsheets or wait until month-end to understand where the money went.
Another example of how Wallester takes a different approach is currency exchange. Many banks still add mark-ups or create delays. Instead, Wallester offers 24/7 exchange between accounts in 10 currencies, with no fees. For SMEs operating across borders, this represents a direct saving on every transaction.
Beyond Cards: Building Confidence
Cards remain central to business payments, but Wallester Business goes further. Payroll cards make it possible to run up to 1,500 payments in a single click. And with REST API access, companies can connect spend data directly to their own software.
Finally, because Wallester is a licensed Visa Principal Member, cards are issued directly and not through third-party intermediaries.
That’s what makes the difference for SMEs: a system that is quick to set up, secure, and strong enough to scale with them.
The Bigger Picture
The move from banks to fintech is about confidence as much as lower fees. For SMEs, the calculation is simple: they want to issue cards today, expand tomorrow, and never lose track of where their money goes.
Wallester Business provides that foundation. Alongside obvious business benefits, Wallester also runs a rewarding affiliate programme, giving partners the chance to share in the platform’s growth.
Taken together, this model shows why banks are losing ground to fintechs. The combination of immediate, practical tools for businesses and a more open, collaborative approach to growth will continue transforming the way business payments are managed.
To sign up for Wallester Business – CLICK HERE
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