PAYMENT PROCESSING: Hyperwallet

Hyperwallet Site: http://www.hyperwallet.com/

About Hyperwallet:

Hyperwallet was founded in 2000 with a focus on the development of mass payment solutions.  Its global payout network provides a reliable method of fund distribution to global contractors, suppliers, and re-sellers. The company is invested in employee satisfaction. The company released a study in August 2016 about “Payday in America” to better understand what employees seek in their payout system.

Hyperwallet Explained:

Hyperwallet’s payout platform allows companies to cost-effectively send payments across the globe. The platform securely handles identity verification, transaction screening, and anti-money laundering reporting.

The payout platform ensures employees prompt access to funds through several options of payment. Employees can request cash pick-up at over 700,000 locations worldwide.

It also offers branded physical prepaid cards. These cards are cheaper than sending checks and accommodate underbanked payees. The branded cards are globally accepted and accept funds instantly. It also offers virtual prepaid cards. These do not require a bank account and are accessible through the self-serve system.  Employees can shop online or by phone anywhere credit cards are accepted.

The direct-to-card feature of Hyperwallet enables workers to quickly and simply transfer earnings to an existing credit, debit, or prepaid card. This feature gives users the power to deposit their earnings to a card, pay off an existing credit card balance, or reload a prepaid card.

This is ideal for multi-national companies wanting to pay globally in local currency. The self-serve platform lets employees receive funds in their local currency online through international wire transfers or in cash via local bank deposits.

It even has the classic check payout method for those that prefer offline payment. These are custom branded checks that can be sent out using a single payments file.

The diverse payout methods of Hyperwallet and the self-serve employee platform are what make this a payout solution for growing businesses, financial institutions, collaborative economies, and developers.