Is Hyperwallet the Best Platform for Your International Payments?

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.

Payment Processing

Hyperwallet facilitates payouts using major debit and credit cards. Their services include payouts through bank accounts, direct-to-debit, checks, prepaid cards, virtual prepaid cards, eGift cards, and cash pickups. They support payouts in up to 28 currencies and provide detailed payment histories and tax reporting.

Payment Options

Hyperwallet stands out for its variety of payout options. In addition to traditional methods like bank transfers and checks, they offer prepaid cards and mobile wallet options, providing convenience to payees and accommodating diverse payment preferences.

E-Commerce Capabilities

For digital businesses, Hyperwallet provides tools for e-commerce, including a secure payment gateway integration for seamless online checkouts. They also support recurring billing, beneficial for subscription-based services.

Security and Compliance

Hyperwallet prioritizes transaction security and regulatory compliance, adhering to PCI-DSS standards for handling cardholder data. Their fraud detection tools monitor transactions for suspicious activities, offering protection against potential threats.

Pricing and Support

Hyperwallet offers transparent pricing to help businesses anticipate processing costs. Their customer service includes a dedicated support team available to assist with questions and technical issues.

Few Public Complaints

Only a small number of Hyperwallet reviews have been found, with a few labeling the company as a scam. The majority of these complaints stem from employees discussing internal decisions rather than user experiences. This seems to have minimal impact on Hyperwallet users. Other reviews from users mention issues such as delayed payments, difficulties closing an account, and misunderstandings about payouts. Some recent feedback suggests challenges in transferring funds internationally. If you have personal experiences with Hyperwallet, we welcome your review in the comments below.

Hyperwallet Merchant Solutions Lawsuits and Fines

There are no known class-action lawsuits or FTC complaints currently filed against Hyperwallet. Clients seeking non-litigious methods for resolving disputes with the company are advised to consider reporting to relevant supervisory organizations.