hyperWALLET Systems, a Canadian payments provider, has expanded its market footprint with the launch of direct-to-bank payment services in India, offering money transfer options in local currency.
hyperWALLET has authorized firms to make electronic payments to Indian bank accounts in INR currency within 1-2 business days to tackle the complexities associated with country’s regulation process.
hyperWALLET VP of Financial Networks Mike Monty said that India being a highly regulated banking environment, has been a difficult payment destination for many global corporations that need to pay individuals in-country.
"By offering direct-to-bank payment services to India, making low-cost and efficient payments into the Indian subcontinent is now a reality for corporations and their payees worldwide."
hyperWALLET’s payment platform allows its users to receive and manage their funds offering a wide range of options including online e-wallets, bank deposit, prepaid cards, cash pickup, and through mobile phone.