Hyperwallet Review: Fees, Complaints, Lawsuits & Comparisons

Star FullStar FullStar FullStar FullStar Empty
Hyperwallet

Agree with our rating?
Tell us about your experience with Hyperwallet in the comment section below.

PhonePhone(877) 546-8220 View Pricing

See which processors will offer you the lowest pricing and best service.

Payout Focused Provider

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.

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.

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 Location & Ownership

Brent Warrington (the former CEO of SecureNet) is the chief executive officer of Hyperwallet, which is headquartered at 1200-475 Howe St., Vancouver B.C. Canada, V6C 2B3.

Daniel Schulman is the CEO of PayPal, which is headquartered at 2211 North First Street, San Jose, California 95131.

Hyperwallet Review Table of Contents

  • Costs & Contract: Hyperwallet offers a month-to-month contract with no early termination fee.
  • Complaints & Service: Hyperwallet complaints number few on public complaints forums.
  • BBB Rating: Hyperwallet has an “A” rating with the BBB and has received 12 complaints and 0 reviews in the past 3 years. The company is not accredited by the Better Business Bureau.
  • Sales & Marketing: Hyperwallet does not hire independent sales agents and has not received any complaints about its sales practices.
Hyperwallet payment processing

Hyperwallet offers processing for payouts

Should You Trust Hyperwallet ?

Lawsuits, Reviews & Complaints

Complaint Summary

Total Online Complaints
<10
Live Customer Support
Yes
Most Common Complaint
N/A

Few Public Complaints

We are currently able to locate only a handful of Hyperwallet complaints, none 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 one-off issues, including late payment to a payee, difficulty closing an account, and a miscommunication regarding a payout. There does not appear to be any consistent pattern among the complaints, and none of them are especially severe. 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 merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.

Hyperwallet Customer Service

Hyperwallet offers phone, live chat, and FAQ customer support.

We have located multiple 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

Hyperwallet does not offer a dedicated email support address, however it does offer live chat support through its website. 

Is the BBB Rating for Hyperwallet Accurate?

Better Business Bureau Profile

See which processors will offer you the lowest pricing and best service.

BBB Summary

Product & Service Complaints
9
Billing & Collection Complaints
3
Advertising & Sales Complaints
0
Guarantee & Warranty Complaints
0
Delivery Complaints
0

Few Public Complaints

We are currently able to locate only a handful of Hyperwallet complaints, none 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 one-off issues, including late payment to a payee, difficulty closing an account, and a miscommunication regarding a payout. There does not appear to be any consistent pattern among the complaints, and none of them are especially severe. 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 merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.

Hyperwallet Customer Service

Hyperwallet offers phone, live chat, and FAQ customer support.

We have located multiple 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

Hyperwallet does not offer a dedicated email support address, however it does offer live chat support through its website. 

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. 9 of the complaints related to products or services and 3 related to billing and collection. Only 5 of these 12 complaints were resolved by the company to the satisfaction of the merchant. The remaining 7 were resolved to the dissatisfaction of the merchant or received no final response. The company has received no informal reviews to its profile in the last 3 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.

How Expensive is Hyperwallet Service?

Rates, Fees, and Contract Terms

This processor offers the lowest ricing and best service we’ve seen.

Cost Summary

Swiped Rate
Variable
Keyed-in Rate
Variable
Early Termination Fee
Variable
PCI Compliance Fee
Variable
Equipment Lease Terms
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 merchants to check out our list of the providers of the best merchant services.

Does Hyperwallet Use Deceptive Marketing?

Advertising & Sales Strategy

You Can Trust These Processors

We found the safe processors during our research. Protect your success with a top-rated processor

Key Points

Employs Independent Resellers
No
Advertises Deceptive Rates
No
Discloses All Important Terms
No

Inside Sales Team

Hyperwallet appears to primarily market its services via strategic partnerships and conventional advertising. There is no indication that the company employs independently contracted sales agents, as it does not market directly to small-scale merchants, 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 merchant, as it is primarily focused on enterprise-level businesses and marketplaces.

Does Hyperwallet Deserve Your Business?

Review Summary & Our Thoughts

A Decent Option for Specialty Needs

Hyperwallet rates as a reliable payout option for enterprise-level businesses and marketplaces. The company is showing a low public complaint total and is unlikely to be plagued by many of the issues associated with conventional point-of-sale merchant services providers. We will continue to monitor merchant feedback both on this review and elsewhere and adjust our grade for the company as warranted.

comments

Customer & Employee Reviews

What Others Are Saying About Square

11 Responses

  • Mike

    Run from this service. Their fees are designed to eat up all your funds. Transfer feature doesn’t work. Web site features don’t work.

    • AT

      i 2nd ans 3rd everybody’s comment, DO NOT, I REPEAT DO NOT SIGN WITH THIA COMPANY ITS THE WORST OMG THEY ARE THE WORST, EVERYDAY IM LOOSING XUATOMER BECAUAE WHEN YOU TRY TO OROCESS A PAYMENT IT SPINS UNTIL IT SAYS ERROR, then you get technical support on the line after waiting for hours then they finally fix it and then the next day it happens then the next day then the next day, so i loose both cash and credit card customers , thanks to this incompetent company

  • Abigail

    I am using Workmarket. I transferred and withdrawed all of my funds which is $329 to my bank account through Hyperwallet, and it did not reflect to my savings. I checked it from time to time. So I have decided to disable the automatic withdrawal yesterday. My funds have returned to the ‘withdrawable funds’. From $329 to $301.

    How much does it cost for the Hyperwallet fees? The deducted amount was too much for me! It is almost 10%. I am asking Hyperwallet to provide me a break down of fees from my $329 to $301. They have not responded yet

    Also, I have placed a valid account number of the bank, how come it’s invalid? I have worked very hard for that amount and hyperwallet deducted a huge part. This really stresses me out!

  • Michele Elder

    I think the Hyperwallet virtual prepaid card is an absolute racket. It looks customer-friendly on the surface, but in actuality, since most online merchants don’t accept multiple forms of payment, a customer can only make an online purchase using their Hyperwallet virtual prepaid card for an amount that is exactly equal to or less than the amount of the prepaid card. So where does that remaining balance go when the virtual card expires because the customer can’t or has no need to make a tiny little online purchase of, say, $2.18? It gets absorbed back into Hyperwallet. What’s worse is that Hyperwallet’s clients probably think they’re doing such a great thing for THEIR incentive rewards customers, when those customers are really just getting robbed of the time they invested in earning the incentive because they can’t actually use the incentive rewards they’ve been promised. The only way I can see that someone could TRULY use the full amount of their prepaid card would be to copy the card number to a note to store in their phone or on paper and have the number entered MANUALLY by an actual brick-and-mortar merchant who DOES take multiple forms of payment. The archaic inconvenience of that process alone is enough for customers to eschew. So this is just a rip-off cloaked as a benevolent service. I would love to be proved wrong, so please, tell me how customers can actually get the full benefit of their virtual prepaid card without resorting to old-school efforts when there’s no option to transfer those funds to a reasonably accessible resource. If you can’t, you’ve proved my point. And if you can, I’ll appreciate the ability to use the full amount of next virtual prepaid card I receive.

  • British Columbia

    I just had a painful week of dealing with Hyperwallet, and I hope to never have to claw money from them ever again.

    I was awarded $50 here in Canada, and they used Hyperwallet for the payout. Received the activation email but I could not access the site. The Time Out Connection error would come up on 4 browsers, even with all complete firewall/virus/VPN Program check. Customer Service kept giving me the same robotic replies and no resolution was given after 10 days.

    I posted the pay portal link on a private group and out of those 40 people, 20 also received the Connection Time Out Error. So it wasn’t just me. These people were from all over Canada with high speed internet.

    Realizing this company would not change their site nor incur any downtime for my $50, I had to take a route that Hyperwallet could not TELL me to do but it was the only way to get my funds.

    Thankfully, the bank transfer was only one day. And the ID verification was quick thankfully.

    So in conclusion, I used a third party to finally receive my money. Just like they use a Third Party for your transactions which they cannot say is secure in the Privacy Policy.

    • Manni

      Which third party did you use mate, I’m having the same problem now

      • Red BC

        Someone I trusted that could access the website signed in as me and added my banking info to transfer the money. Send all your trusted friends the link, and whoever can access the website is the one to ask :) That’s the only way feasible to get your money.

  • Frank

    For months now I have been urging them to update their website so that my IBAN fits their format, in order to get paid by wire transfer. MONTHS.
    Before entrusting this company your hard-earned cash, think twice.
    I don’t understand why certain companies insist to use unsecured 3rd party payment processors like Hyperwallet if ANYONE can send wire transfers worldwide from bank to bank within seconds!


    This post will help: Best Mobile Apps for Sending Money

    -Phillip

  • Thomas

    I had two questions before signing up and entrusting them a lot of money.. Yet they refuse to respond. Their answer is “Thank you for your email. To maintain the privacy of your Pay Portal account, we require questions be sent through a secure channel.”
    They require you to sign up to receive an answer?
    Imagine you go to a shop and want to buy a TV, first you must hand over your ID – and probably be sent to the cashtill to pay – and then you get your question answered?
    First you answer, then you subscribe – not the other way round. Totally unacceptable. Very suspicious.


    From The Editor
    This Post Might Help: Best Merchant Accounts for Great Customer Service

  • Félix Malfait

    This is the typical old B2B software company that has not evolved with its time.
    The UX for the backend is terrible (the design was probably not changed for the last ten years).
    The sales sometimes don’t reply to emails: this happened both with the US team (Michael F) and the EU team (Luke T). I have never seen that in any sales organisation in my life. Overall the sales process is terrible if you need to move fast, it takes weeks, you need to meet in person… You don’t have access to any demo and the sandbox account they offer is actually very limited.
    It is terribly expensive compared to other solutions (they admitted themselves they would not be competitive with the pricing we got for MangoPay in France for example).
    If you’ve ever worked with modern companies like Stripe, you’ll be disappointed.


    From The Editor
    This Post Might Help: Best Merchant Accounts for Vacation Rentals

  • Eboni

    Over $4000.00 was missing from my account after a customer service rep help me access my account after being unable to login. one of the Supervisores at hyperwallet told me how someone changed the email address in the hyperwallet account on June 29, 2018 and June 30th and transferred funds on June 30th. The supervisor also told me that someone conducted a live chat on July 2nd impersonating to be me.

    Hyperwallet security on the account fails me. The customer service rep conducted a live chats without confirming security questions. I still have not received a refund in almost 30 days afterwards. The corporate office staff refuses to except any calls from me. Customer service representatives tell me that they need to speak with a lawyer.

    I was told a persons name and IP address of a suspect who possibly transferred unauthorized funds from my account on a visa, two days later I stop being told anything regarding my case.

    Hyperwallet refuses to speak with the local detective where I filed the case at. They are treating me like a stranger who never conducted business with them. I’m a victim.


    From The Editor
    This Post Might Help: Best Mobile Apps for Sending Money

Leave a reply

Your email address will not be published. Required fields are marked *

Copyright

Copyright © CardPaymentOptions.com, Inc. (Digital Fingerprint: 0d38c6720f0d78a701b74d58653af608). Getting paid to re-write this page? Click here to earn a reward.

Any unauthorized copying and reproduction of the content of this page, including all meta data and computer code, is strictly prohibited. While the information in the above article is believed to be accurate as of its publish date, the author and publisher make no representation or warranties with respect to the accuracy, applicability, fitness, or completeness of the contents. The author and publisher shall in no event be held liable to any party for any direct, indirect, punitive, special, incidental or other consequential damages arising directly or indirectly from any use of this material, which is provided “as is,” and without warranties. Any and all use of trade names and/or marks are for identification purposes only and shall not be construed as a claim of affiliation, or otherwise, with CardPaymentOptions.com, Inc. ("CPO") in any form. The sole purpose of the material presented herein is to alert, educate, and inform readers. It is not intended as legal or financial advice. We may earn revenue if you obtain services from a provider that we recommend. See this page to learn how we support our operations.

Phillip Parker
Phillip Parker
Credit Card Processors
2 min read
11 Comments
FTC & Advertising Disclosure
We take great pride in providing one of the only objective an unbiased merchant account review websites on the internet. To support this enormous responsibility we earn some of our revenue through affiliate fees and advertising. These revenues in no way influence our ratings or reviews. Learn more about our monetization policies here.
Show disclosure
Share this post
Our Readers Frequently Choose
helcim logo
star star star star star
Helcim Payments
done
No Monthly or Annual Fees
done
Super Low Processing Rates
done
POS, Mobile, and Online Payments
Sales & Support: (888) 506-7812