Goodbye Routing Numbers: Transfer to Debit Card is Here
Last year, the team here at Hyperwallet announced a new addition to our payout method offering. As of today, Hyperwallet’s U.S. corporate clients can now offer this functionality to their payees through our new Transfer to Debit Card payout method.
The transfer to Debit Card payout method makes it easy for the registered payees of our corporate clients to transfer their earnings directly to their bank account—no routing number required. This is made possible through an integration with the Visa Direct network. Payees need only pull out their Visa debit card, punch in the 16 to 19-digit number on the front, and verify the transfer details. Once submitted, the requested funds are quickly and efficient transferred into the bank account that’s linked to the debit card.
Hyperwallet’s Transfer to Debit Card Functionality
The transfer to Debit Card payout method has the ability to transfer funds within minutes to more than 200 million Visa debit cards in the U.S. The functionality is also compatible with some non-Visa branded debit cards.
Hoping to offer this capability to payees outside of the U.S.? Then mark your calendar—we are working towards making global payment disbursements available for Visa-branded debit cards issued outside of the U.S. in 2017.
For more information on the Transfer for Debit Card payout method, please contact your account manager. Not on the Hyperwallet payout platform yet? Contact a Solution Expert today to get started.