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August 27, 2010

hyperWALLET expands prepaid products

Payment solutions provider hyperWALLET has expanded its prepaid card products designed to provide the unbanked with value redemption options.

By Verdict Staff

Payment solutions provider hyperWALLET has expanded its prepaid card products designed to provide the unbanked with value redemption options.

Targeted at clients such as businesses, governments and NGOs, hyperWALLET claims the enhancement of its prepaid services is an industry first approach to cross border card issuing offers with improved compliance for global organisations and lower service fees for cardholders.

“hyperWALLET has a long history of prepaid card innovation – we were the first independent provider in Canada to launch a compliant instant issue debit card for government welfare,” Lisa Shields, CEO of hyperWALLET.

“However, we have always viewed prepaid cards as a component of an integrated global payment distribution service, not as the only service. hyperWALLET’s global bank deposit services and regional cash agent partnerships have already made our B2P value proposition unmatched in the world of low value payments.

“Our new prepaid card service compliments these existing options by providing a point of sale and ATM access card which can be compliantly provided to individuals around the world.”

Immediate orders for programs requiring USA, Canadian and Mexican card services are being accepted by hyperWALLET, but Asian jurisdictions will have to be patient as orders will not be accepted until the first quarter of next year.

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