Moorwand, which aims to transform compliance into an enabler of innovation, today announced it has been selected by VIALET as the issuer and BIN Sponsor for its new credit product.

VIALET’s credit line offers consumers competitive interest rates alongside an intuitive money management app allowing users to take control of their finances. The fully digital onboarding process means loan applications are approved within minutes and the simplicity of the user interface makes transactions easy. Users will also be able to use the credit line to complete payments on occasions when existing funds are insufficient. 

Moorwand will issue virtual and physical cards, on behalf of VIALET, across Europe, with a particular focus on Poland, Spain, Lithuania and Latvia. As the BIN Sponsor, Moorwand will also provide VIALET’s credit line with a single compliant connection to the Mastercard payment scheme for transaction processing and settlement of cardholder funds. 

“Our new credit line has the potential to help thousands of users meet their financial obligations. With no hidden charges and an intuitive mobile app, users will have complete visibility and control over their money,” said Artjoms Grivkovs, CEO at VIALET. “We needed a partner with deep regulatory expertise across borders, who could offer agile solutions to support our market expansion and who is committed to reducing payment friction. Moorwand ticked all these boxes and more.” 

“We love to work with innovative fintech companies that offer consumers more choice through cutting-edge products and services,” said Luc Gueriane, Chief Commercial Officer at Moorwand. “The launch of VIALET’s credit line means consumers have a genuine alternative to payday loans and other high interest products. This simpler and more flexible way to access credit gives consumers the power to manage their finances how they want, seamlessly and digitally. We’re excited to see VIALET take frictionless finance mainstream.” 

Founded in 2019, VIALET has over a decade of experience in financial technology. The company is owned by VIA SMS Group, and has an extensive product portfolio with operations in seven countries across Europe and Asia-Pacific region.