News from the Wire

Hyperwallet now offers Visa Direct

Friday, October 21, 2016 — 12:00:54 (EDT)

San Francisco, Oct. 21, 2016 -- Hyperwallet, a leading global payouts provider to digital marketplaces, today announced the addition of Visa Direct, a real-time push-to-card payment solution, to Hyperwallet’s existing payout methods. Visa Direct will allow U.S. payees to transfer their earnings onto an existing Visa debit card. Additionally, Hyperwallet anticipates that payees will be able to transfer global payment disbursements onto Visa debit cards issued outside of the U.S. in Q1 2017.

The Visa Direct platform has the ability to transfer funds within minutes to more than 200 million Visa debit cards in the United States. Visa can also transfer funds to non-Visa branded debit cards. Funds are transferred into the recipient’s account linked to a debit card without the need for complicated deposit account number or bank routing code details.

“Having the ability to allow payees to deposit their earnings onto existing debit cards—in near real-time, no less—is just one of the many ways Hyperwallet is helping new economy companies pay their supply-side drivers, taskers, and sellers, faster,” explained Hyperwallet CEO, Brent Warrington. Companies using the Hyperwallet payout platform have had the ability to issue global real-time payments via Visa virtual prepaid cards and personalized Visa prepaid cards since 2010.

“Today’s workforce expects to receive their earnings in the fastest, safest, and most convenient way,” said Bill Sheley, head of global push payments, Visa Inc. “The addition of Visa Direct to Hyperwallet helps eliminate the need for direct deposit or cashing checks. With Visa Direct and Hyperwallet, workers can transfer their earnings in near real-time onto eligible debit cards resulting in immediate, reliable access to their money.”

Max International, one of Hyperwallet’s longtime clients, will be the first to implement the functionality within their system. “Offering real-time payout capabilities to our growing roster of U.S. distributors is something we’re very excited to implement,” explained Bob Kaelin, General Manager of North America. Max International distributors who choose this payout method will receive near real-time payment of their earnings into their bank account. “Now, instead of having to find their bank account details, our distributors can simply pull out their bank debit card, punch in the 16-digit number on the front, and transfer their earnings directly into their account. It’s quick, it’s easy, and it’s something we’re confident our distributors will love.”

“Thanks to our Pay Portal and new API suite, our clients have the ability to tap into Visa Direct to support payouts to debit cards with little to no coding effort,” explained Hyperwallet’s Chief Product Officer, Bill Crowley. Crowley is most excited to offer the Visa Direct functionality through Hyperwallet’s new Widget implementation method. “With our new JavaScript Widget, clients will be able to quickly plug into our platform and offer near real-time payout capabilities within their native application, minimal coding required.” Clients will be able to integrate through the Widget implementation method in January of 2017.

For more information, please contact press(at)hyperwallet(dot)com .

About Hyperwallet Hyperwallet’s payout platform that provides growing organizations with a frictionless, transparent, and reliable way to manage payments and enhance the payee’s experience anywhere in the world. Trusted by enterprise, ecommerce, and on-demand platforms, Hyperwallet’s advanced payment architecture unifies fragmented financial infrastructure in a singular environment. Put your payees in control of their earnings with enhanced financial management tools, integrated payment tracking technology, and payment choice. Hyperwallet has offices in San Francisco, Austin, and Vancouver. You can learn more at hyperwallet.com .

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Source: Company press release.