New payment method enables faster and expanded payments reach for businesses worldwide
Vancouver, B.C. – Hyperwallet Systems Inc. (“Hyperwallet”), a leading provider of global payment solutions, today announced support for Single Euro Payments Area (SEPA) credit transfers across 32 countries throughout Europe.
The SEPA Credit Transfer initiative was launched by the European Payments Council (EPC) in January 2008 with the goal of creating a borderless system for euro payments. Since then, banks and businesses have been migrating from country-specific domestic payment systems towards the pan-European solution that SEPA offers.
“The implementation of SEPA credit transfers is an example of how Hyperwallet continues to provide dynamic, cutting-edge services within the global payments space,” states Gina Knight, Directory of Treasury at Hyperwallet. “SEPA can be particularly attractive for companies needing to send payments to Eastern European countries, several of which have already adopted the euro as their official currency. Many more plan to switch to the euro within the next few years.”
Through Hyperwallet’s SEPA Credit Transfer service, an organization’s cross-border execution time and costs for euro payments can be significantly reduced from three business days to one business day, enabling same-day service at low prices. With the addition of SEPA, Hyperwallet’s global payment network now supports payment distribution to 53 countries, including support for euro transfers to Bulgaria, the Czech Republic, Hungary, Iceland, Liechtenstein, Lithuania, Monaco, Romania, Slovakia, Switzerland and the United Kingdom.
For corporate clients that have been struggling to pay beneficiaries across Europe, Hyperwallet’s SEPA service provides a fast, cost-effective payment method compared to more traditional offerings such as checks and wire transfers. The service is further enhanced through Hyperwallet’s brandable payment applications across both web and mobile channels, which are available in multiple currencies and languages.
Organizations that wish to learn more about leveraging Hyperwallet’s SEPA Credit Transfer service, global financial network and payment solutions can call +1 (604) 482-0090 for further information.