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Hyperwallet Credit Card Processing 2023: Reviews & Complaints
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Founded in February 2000, Hyperwallet is an international payment platform that specializes in helping businesses issue payouts to suppliers, contractors, and employees across the globe. Hyperwallet is not a merchant account provider, as it does not facilitate the acceptance of credit cards at the point of sale. However, it is not merely a payroll service, either. Like PayPal, WePay, or Stripe Connect, Hyperwallet provides a way for marketplaces to issue a large number of payments to many sub-merchants (also known as “payouts”) without having to establish multiple banking relationships across the globe. Hyperwallet handles all of the local banking relationships and currency exchange for merchants. In 2022, Hyperwallet continued its expansion into ubiquitous expansion with partnerships with Choice Bank and more.
Acquired by PayPal
In November, 2018, Hyperwallet was acquired by payment giant PayPal for $400 million. Brent Warrington, the current CEO of Hyperwallet, will continue to lead the brand under the PayPal flag. PayPal reportedly purchased the company to utilize Hyperwallet’s payout functions for its growing list of customers.
Hyperwallet Payment Processing
As mentioned, Hyperwallet processes all major debit and credit cards to provide payouts to others. Their service features include payouts through Bank Account, Direct to Debit, Check, Prepaid Card, Virtual Prepaid Card, eGift Cards, and Cash Pickup. They can make payouts in up to 28 currencies, and they offer detailed payment histories and tax reporting.
Innovative Payment Processing Options
One of the standout features of Hyperwallet is the variety of ways it offers for payees to receive their funds. Beyond traditional methods like bank transfers and paper checks, the company also provides prepaid cards and mobile wallet options. This versatility offers convenience to payees and helps businesses cater to a broader range of payment preferences.
Hyperwallet’s E-Commerce Capabilities
For businesses operating in the digital space, Hyperwallet offers a robust set of tools for e-commerce. It allows businesses to integrate a secure payment gateway into their online platforms, providing a seamless checkout experience for customers. Additionally, Hyperwallet supports recurring billing, a feature that’s particularly useful for businesses offering subscription services.
Security Measures and Compliance
Hyperwallet places a strong emphasis on transaction security and regulatory compliance. The platform follows stringent PCI-DSS standards for handling cardholder data, providing peace of mind for businesses and their customers. Additionally, Hyperwallet’s fraud detection tools actively monitor for suspicious activities to protect businesses from potential threats.
Transparent Pricing and Dedicated Support
Hyperwallet is committed to providing clear and upfront pricing information, ensuring businesses can anticipate their processing costs. Furthermore, the company’s customer service is top-notch, with a dedicated support team available to assist businesses with any questions or technical issues.
Location & Ownership
Brent Warrington (the former CEO of SecureNet) is the chief executive officer of Hyperwallet, which is headquartered at Suite 2600, Three Bentall Centre, 595 Burrard Street, P.O. Box 49314, Vancouver, B.C. V7X 1L3.
Daniel Schulman is the CEO of PayPal, which is headquartered at 2211 North First Street, San Jose, California 95131.
Table of Contents
- Costs & Contract: Offers a month-to-month contract with no…
- Complaints & Service: Complaints number few on…
- BBB Rating: Has an “A+” rating with the BBB and has received 12 complaints and 0 reviews in the past 3 years. The company is not…
- Sales & Marketing: Does not hire independent sales agents and has not received…
Hyperwallet Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||<10|
|Live Customer Support||Yes|
|Most Common Complaint||N/A|
Few Public Complaints
We are currently able to locate a handful of Hyperwallet reviews, some of which accuse the company of being a scam. The bulk of the complaints come from employees of the company, who disagree with internal choices made about its future. This is unlikely to have any effect on Hyperwallet users. The remaining Hyperwallet reviews mention various issues, including late payment to a payee, difficulty closing an account, and a miscommunication regarding a payout. Some of the more recent issues seem to indicate that some people have a hard time moving funds with Hyperwallet when sending/receiving overseas. If you have a Hyperwallet review of your own, please let us know in the comments below.
Hyperwallet Merchant Solutions Lawsuits and Fines
We have not found any outstanding class-action lawsuits or FTC complaints filed against Hyperwallet. Dissatisfied clients who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
Hyperwallet Customer Support Options
Hyperwallet offers phone, live chat, and FAQ customer support.
Hyperwallet Customer Service Numbers
- (877) 546-8220 – Toll-Free General Customer Service
- +61 290 984 705 – Australian Support
- +44 800 0041 8728 – UK Support
- +1 604 900 2318 – Worldwide Support
Other Support Options
- Live chat
Hyperwallet Online Ratings
Here's How They Rate Online
Over 10 Complaints
Hyperwallet is not accredited with the Better Business Bureau and currently has an “A+” rating with the BBB. The company has received 12 complaints in the last three years.
An “A” Performance
As Hyperwallet’s complaint total is low for a company of its size, we agree with the BBB’s rating at this time.
Hyperwallet Fees, Rates & Costs
A Closer Look at The Contract
|Monthly & Annual Fees||Variable|
Hyperwallet Contract Terms
Hyperwallet does not publicly disclose its pricing, and there are no Hyperwallet complaints that mention particular Hyperwallet rates or fees. A company representative has stated that Hyperwallet fees and pricing depend on the countries to which the user wishes to issue payouts as well as the number and type of payees on their platform. This approach makes sense, as enterprise-scale corporations have diverse needs due to their diverse areas of operation.
No Red Flags
Hyperwallet’s exclusive emphasis on payouts means that its service will not involve the contract terms that are commonly part of point-of-sale merchant account agreements, such as equipment leases, PCI compliance fees, and monthly minimum fees. Hyperwallet may charge termination fees, but there is no mention of such a fee in the company’s marketing materials or in merchant complaints about Hyperwallet. In general, there are no Hyperwallet reviews that report of dissatisfaction with Hyperwallet rates, contract terms, or pricing, and we have no reason to believe that the company is overcharging or deceiving its users. Still, we encourage business owners to check out our list of the providers of the best merchant services.
Hyperwallet Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Uses Independent Resellers||No|
|Discloses All Important Terms||No|
Inside Sales Team
Hyperwallet appears to primarily market its services via strategic partnerships and conventional advertising. We have found no Hyperwallet complaints that mention negative sales experiences. There is no indication that the company employs independently contracted sales agents, as it does not market directly to small-scale businesses, or “payees.”
No Misleading Quotes
There are no public Hyperwallet reviews that accuse the company of misrepresenting fees, and the company does not display misleading prices on its website. This compares favorably to our list of best credit card processors. In general, Hyperwallet’s marketing tactics will have a minimal impact on the average business, as it is primarily focused on enterprise-level businesses and marketplaces.
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