hyperWALLET Newsletter - August 2011
Next software release scheduled for August 30th
We have put this newsletter together to keep you informed of exciting new product developments and payment functionality enhancements that will be introduced in our next software release.
Your organization and your payees can leverage the benefits of these new features as they become available.
If you have any questions, please contact us at products@hyperwallet.com.
Payment Network Growth
Turkey
hyperWALLET announced the expansion of its payment network into Turkey on August 15, 2011, extending the company’s proprietary interlinked ACH clearing capability to the Eurasian market. Concurrent with this expansion is the company’s support for payment processing and distribution in Turkish Lira.
Turkey is a market our corporate customers have expressed interest in for quite some time now, thanks to its unique geographical location and its status as a dynamic, yet politically stable emerging market.
If your company has payment processing requirements in Turkey, contact us to discuss further. |
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New Merchant Payment Service
Direct Pay
Your secure, cost-effective alternative to credit card payments.
We are very excited about our new "Direct Pay" merchant payment service for companies and their payees.
Direct Pay is a natural extension to the current commissions service already offered by hyperWALLET, and provides bank debits and e-WALLET settlement for merchant payments, allowing your business to substantially reduce interchange fees.
By implementing hyperWALLET’s Direct Pay service, your business can extend your payment acceptance methods to include “spendback” of earned commission funds and lower-cost bank transfers for product purchases.
Payees will be able to activate their bank account so that product payments can be debited directly from their account.
By default, the system includes split tender payment authorization where earned commission in the e-WALLET can be used in conjunction with funds debited from the customer’s linked bank account and/or a branded prepaid Visa debit card.
Utilizing Direct Pay to reduce interchange fees is an easy decision to make!
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How Direct Pay Works |
Additional Languages
Greek & Italian
Two new languages, Greek and Italian, have been added to our payments platform, bringing the total number of supported languages to 16.
We continue to add new languages to support our customers' needs across the globe. |
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New Languages:
 
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USD Prepaid Cards
Now available in 34 countries!
The first card we released was our USD Prepaid Card, issued by Bancorp. This product is for US resident businesses.
For U.S. registered businesses, you can now use this card to pay payees in the following countries:
- American Samoa
- Anguilla
- Antigua
- Aruba
- Bahamas
- Barbados
- Barbuda
- Bermuda
- Bonaire
- British Virgin Islands
- Caicos Island
- Canada
- Cayman Islands
- Curacao Netherlands Antilles
- Dominica
- Dominican Republic
- Grenada
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- Haiti
- Jamaica
- Marshall Islands
- Mexico
- Micronesia Islands
- Montserrat
- Nevis
- Palau Island
- Peru
- Saba
- St. Kitts
- St. Lucia
- St. Maarten
- St. Vincent
- Tobago
- Trinidad
- Turks Island
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With 34 new countries now available, making payments worldwide has never been easier! |
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Example Customers:
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Have questions? Need more information?
Contact Us
If you have questions or would like additional information on any of the above enhancements, email products@hyperwallet.com.
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Future software release
Date: Q4 - Oct / Nov / Dec 2011
Upcoming Network Expansion
hyperWALLET is committed to expanding its global direct deposit bank network.
In our upcoming Q4 2011 release we will be introducing a range of new countries and new currencies to some of our existing country offerings.
For example, we already support Euro payments into the Czech Replublic, but in this release we will be adding Czech Koruna.
The countries highlighted in grey are entirely new ones for us. All of the others have new payout and/or new funding currencies:
Country |
New Payout Currencies |
New Funding Currencies |
Albania |
ALL |
ALL |
Bosnia |
BAM |
BAM |
Bulgaria |
BGN |
BGN |
Czech Republic |
CZK |
CZK |
Denmark |
DKK |
DKK |
Hungary |
HUF |
HUF |
Iceland |
ISK |
ISK |
Indonesia |
IDR |
IDR |
Latvia |
LVL |
LVL |
Lithuania |
LTL |
LTL |
Malaysia |
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MYR |
Norway |
NOK |
NOK |
Peru |
PEN |
PEN |
Romania |
RON |
RON |
Serbia |
RSD |
RSD |
South Africa |
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ZAR |
Coming Soon:
Global Prepaid cards
CAD, EUR, GBP, USD
Customer adoption of our prepaid USD Visa card has been fantastic.
Our upcoming Q4 2011 release provides support for cards in new countries (CAD, EUR and GBP), as well as a USD card that can be issued globally to non-residents of the US.
These new cards can offer you the global payments coverage you have been seeking.
Traditional card only programs offered by our competitors always create issues with loading maximums for your highest earners.
We have been replacing these programs with our unified Card / e-Wallet and Bank Deposit solution.
We made prepaid cards an integral part of our e-WALLET solution. By integrating a prepaid card as part of the e-WALLET, we allow the payee to choose their preferred payment method, all within one solution.
With our global payment solution, your payee is able to choose to receive their commission funds onto their prepaid card or direct deposit to bank account (or a combination of both), or via Western Union cash pickups.
Promoting Direct Pay with integrated loyalty points
hyperWALLET's "Paylution" platform is a global solution and as a result can be configured with multiple currencies.
Adding a notional currency or “loyalty points” is a great way to promote Direct Pay channels for purchase of your products.
Loyalty points can be automatically awarded for products purchased via the Direct Pay payment method, based on defined award rates (i.e. 5 loyalty points for every $20.00 purchase via Direct Pay).
The payee accumulates points in their e-WALLLET that can then be redeemed for anything from your products, corporate promotional materials or even special promotions as defined by the company.
hyperWALLET's "Paylution" payment platform handles all configuration, award tracking and redemption of loyalty points. Loyalty points are redeemed for purchases via the same Direct Pay gateway API integration.
In addition, our integrated loyalty points can be also used to support or combine other loyalty points or credit schemes that you may already support. |
