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Table of Contents

Lead Story

Healthy relationships build vibrant businesses

Dale S. Laszig

News

Industry Update

Fed accelerates fast payments in 2017

Payments industry addresses ADA compliance

OCC considers controversial fintech charter

Retail, payments find unity at NRF 2017

Features

Emerging markets fuel smart-device surge

Views

Mobile and the democratization of banking, payments

Patti Murphy
ProScribes Inc.

Interview with industry pioneer Bill Melton

Brandes Elitch
CrossCheck Inc.

Payment trends for 2017

Kirsty Tull
BillPro Pty Ltd.

Education

Street SmartsSM:
Understanding merchant processing

John Tucker
1st Capital Loans LLC

Know the risks before processing overseas

Theodore F. Monroe
Attorney at Law

Lessons from the past that apply today

Jeff Fortney
Clearent LLC

Your EMV transition: It gets better

Bob Olson and Naga Jagadeesh
ThoughtFocus

Company Profile

Electronic Payments Inc.

New Products

Enterprise-scale, adaptable mPOS solution

iSMP4 Companion
Ingenico Group

Self-service payout solution for global ecommerce

Hyperwallet Pay Portal
Hyperwallet Systems Inc.

Departments

Letter from the editors

Readers Speak

Resource Guide

Datebook

Skyscraper Ad

The Green Sheet Online Edition

February 13, 2017  •  Issue 17:02:01

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New Products

Self-service payout solution for global ecommerce

Product: Hyperwallet Pay Portal

Hyperwallet Systems Inc. is a global technology company headquartered in San Francisco. The company developed its enhanced Hyperwallet Pay Portal to include a range of self-service, responsive tools designed to enable ecommerce marketplaces to provide frictionless, transparent payouts to billions of independent sellers. The solution enables marketplace sellers to verify their identities, use preferred payment methods and track transactions on the payout portal, the company stated.

HyperWallet

"The pinnacle of [an ecommerce merchant's] experience is getting paid, and each time they sell an item they could gain or lose trust in an online marketplace," said Michael Ting, Senior Vice President of Digital Markets at Hyperwallet. "Reliability and transparency are the value hooks that keep sellers loyal to a platform."

Providing reliable payments on the payout side is a different paradigm than how payments are accepted, Ting added. "Trust spans the entire lifecycle of a transaction," he said. "Sellers expect a marketplace platform to insulate them from anonymous parties on the other side of the world, answer their questions and provide accurate payouts, without unexpected fees."

Global payout portal

The company noted that the Hyperwallet Pay Portal provides sellers with comprehensive tools and features designed to create a secure, compliant, end-to-end payout experience, including the following:

Multiple implementation options

Hyperwallet also noted that software developers can choose from the following three options for integrating payout functionality into enterprise-scale software platforms:

  1. Hosted service: A full-service, standalone portal requires minimal integration effort. The turnkey, brandable hosted solution has optional add-on modules to accommodate growing software platforms.
  2. JavaScript widget: A JavaScript widget, requiring moderate application programming interfaces (API) integration effort, enables users to plug global bank deposit functionality into existing applications.
  3. Fully integrated model: Developers can use Hyperwallet APIs to embed the end-to-end payout experience in a website or app, enabling users to control and scale payouts as they evolve their platforms and services.

Growing market segment

Global ecommerce marketplaces can expand independent sellers' reach beyond their geographic footprints, but not all sellers are fully leveraging remote market opportunities, Ting noted. He believes access to user-friendly financial management tools, integrated payment tracking technology, and advanced compliance and identity verification capabilities will help to drive adoption and scale this growing market segment.

Hyperwallet published The State of Ecommerce Marketplace Selling in 2017: A study on the behaviors and preferences of ecommerce marketplace sellers, a report based on a survey of 1,500 marketplace sellers. The study found 53 percent of respondents want to receive payment for every sales transaction; 79 percent surveyed would switch payout platforms due to excessive fees.

The report also noted that many Americans use ecommerce marketplace selling as part-time employment to supplement their income. "Ecommerce marketplace selling is only a side gig for most sellers, in part, due to difficulty with payments and, in some cases, a lack of trust in the ecommerce marketplace," the authors wrote. "By making continued efforts to improve the payment process and increase seller trust, marketplaces will have the opportunity to process more transactions. In turn, this will help sellers reach their goal of turning this side gig into a full-time career."

Website: www.hyperwallet.com Contact: solutions@hyperwallet.com

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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Spotlight Innovators:

North American Bancard | Harbortouch | USAePay | Humboldt Merchant Services | Impact Paysystems | Electronic Merchant Systems