U.K.-based payment solutions provider leveraging Hyperwallet’s global payment services and expertise
Vancouver, B.C. – Hyperwallet Systems Inc. (“Hyperwallet”), the leading provider of global payment solutions, today announced a partnership with TransACTION, a U.K.-based payment solutions provider for the Freelance Contractor payments marketplace. Through Hyperwallet, TransACTION provides an international, multi-currency payment distribution solution for organizations who are constantly challenged with making small-value, regular international payments to independent workforces around the globe in a compliant way.
“Prior to the TransACTION payment service, the Freelance industry has been tremendously challenged with finding a single, yet simple solution for disbursing payments to its workforces, particularly when payment recipients have varying needs for how and where funds should be deposited, or even split between bank accounts,” states David Houston, President at TransACTION. “The increased popularity of this type of working pattern over the past few years has also dramatically increased the need to find an adaptable, flexible and low cost payment structure for the business sector.”
TransACTION provides a 100% electronic payment method that eliminates the reliance on more cumbersome and antiquated payment methods such as cheques or bank transfers. Instead, payments to the independent contractor workforce are delivered worldwide via the Internet. Once a payment has been credited to a contractor’s account, they are then free to sweep their earnings to their local bank account, where they have quick and convenient access to their funds via their regular ATM bank cards for real-world spending. The solution supports funding of payments in 21 currencies, and has a payment reach of 50 countries. Contractors are also notified in real-time via email or their mobile phone of when they have been paid.
“We are very excited to have TransACTION as our valued partner in this growing market sector,” adds Chris Silverson, Vice President, Sales at Hyperwallet. “Our multi-currency payment platform and low-cost international settlement networks address a very common yet unsolved global payment gap seen in the industry. It also provides recipients around the globe with a positive payment experience and tremendous convenience when managing their payment preferences, freeing up the administrative burden on the freelancer management sector.”
TransACTION is owned and managed by an executive team of experienced industry veterans in the Contractor service marketplace, who over the years have been ultimately responsible for the moving of billions of pounds, encompassed in tens of thousands of transactions, always using the traditional banking system. Through them, TransACTION offers payment services in an international environment. Current customers include cooperative banks, payment brokerages, insurance companies, mobile telecommunications operators and multi-national businesses, as well as thousands of private individuals, who are benefiting from receiving funds across the globe free of the usual hit of excessive bank transfer fees.