Hyperwallet announces a contract with Western Union Business Solutions to support B2B electronic wallet

Vancouver, B.C. – Hyperwallet Systems Inc. (“Hyperwallet”), a leading provider of global payment solutions, today announced that Western Union Business Solutions selected Hyperwallet’s global payment platform to support its new B2B electronic wallet initiative.

Through the new Western Union Business Solutions Online FX service, small and medium-sized enterprises will be able to leverage simple email money transfers to deliver payments to international recipients. A key benefit is that senders do not need to collect or enter a recipient’s international bank routing details in order to effect a payment; all that will be required is a recipient email address and security question/answer pair. The recipient receives an email, authenticates themselves on the Western Union Business Solutions Online FX portal, enters their banking details, and can quickly have the funds deposited directly to their bank account.

“Hyperwallet’s global payment platform has powered email money transfers for over 200 Canadian credit unions since 2001, and we are excited to be selected by Western Union Business Solutions to leverage our proven technology in their electronic wallet solution,” states Bill Crowley, Vice President of Product & Services at Hyperwallet. “Our global e-mail money transfer technology greatly simplifies cross-border payments, allowing recipients of payments to enter domestic bank account routing details instead of complex and unknown international wire transfer instructions.”

The Western Union Business Solutions B2B electronic wallet is slated to launch in the U.S. and Canada in January, 2012.

Organizations wishing to learn more about Hyperwallet’s global financial network or global payment solutions can visit our Solutions page or call +1 (604) 482-0090 for further information.