Case study

Hyperwallet

Leading online and mobile payments platform and global financial network

In an interview with Earthport, Hyperwallet's EVP Head of Financial Partnerships, Mike Monty, explains how Earthport supports the company’s payments business.

Hyperwallet was founded in 2000 with the vision of simplifying the process around mass payouts and eliminating the barriers between businesses and their payees. The company has since become a leading provider of payment technologies and solutions to ecommerce, on-demand and enterprise companies that make high volume, low-value payments to globally-dispersed recipients.

Over the years we've broadened our payout options through partnerships with Earthport and other financial institutions. Hyperwallet's diverse range of payout methods now includes localised bank deposits, prepaid cards, transfers to existing debit/credit cards, cash pickup, and cheque delivery.

Payee choice and control are among our key differentiators. We allow recipients to decide how and when they want to be paid, depending on their preference. For example, some underbanked payees will be more interested in prepaid cards and cash solutions. Others will prefer the convenience of transfers to their bank accounts or existing cards.

What were your requirements when you engaged Earthport?

When Hyperwallet first engaged with Earthport, we were looking for a strong partner who could provide us with secondary connections in some of our larger payment destination markets. We also wanted Earthport to help us de-risk our portfolio and provide access to new capabilities in developing countries, enabling us to enhance our value proposition with our client base.

Hyperwallet wanted a provider that had built out a strong financial network of banks and was able to connect to our system easily through an automated API. In addition, we needed a partner who could provide us with the ability to reconcile our payments effectively.

Why did you choose the Earthport solution?

Earthport presents a big opportunity for payments companies to provide clients with better payment products.

Earthport has invested in building out a solid network of financial partners who are able to deliver direct-to-bank payments in many countries, which Hyperwallet clients require. We worked together to figure out how we would integrate our services, as well as our operational and compliance processes, in a way that would allow Hyperwallet to roll out new capabilities cost-effectively and in relatively short timeframes.

Earthport's service and payments platform was exactly what we needed to support the growth of our business. This has given us the opportunity to leverage new routes and new currencies as Earthport makes them available.

Describe your experience working with Earthport.

Earthport account management and senior management teams have always been responsive and professional in working with us to resolve issues. The strength of this relationship is why Earthport remains one of Hyperwallet's key and respected partners.

Our product roadmap is driven by client requests and strategic priorities. When Earthport launches new routes, they provide us with country fact sheets containing the data fields needed for payments, as well as the specific regulatory requirements within the jurisdiction. This guidance and support helps us launch new country routes effectively and enable transactions faster. We also work with our clients on compliance processes and the profile of their transactions. Earthport then provides us with a second layer of compliance controls and expertise across our business.

By removing reliance on single providers, Earthport's capabilities and network of financial partners have also helped us to de-risk our business. They also allow us to roll out payments to developing countries, as clients request them, in relatively short timeframes. One successful service we offer is for payees to supply their bank details directly within Hyperwallet's interface, giving them greater control over their data and payment preferences.

How has Earthport supported business growth and what's next?

We see Earthport as a key partner going forward as our transaction volumes continue to grow in existing markets, as well as in developing regions.

As we explore new routes and new currencies, and our transaction volumes continue to grow in both existing and developing markets, we see Earthport as a strong partner. We look forward to Earthport’s continued investment in the expansion of its network and to the ongoing success of our relationship.