Hyperwallet Systems, the payouts company that serves the independent worker industries, will debut a new suite of APIs geared toward the payouts industry. The company said in a Monday (Oct. 5) press release that it will showcase the APIs this week at the FinDEVr 2015 conference that is held for financial technology developers.
In tandem with that event, scheduled for Oct. 7, the company will also roll out a private beta, which will include both “select clients” and "prospects" that will work with Hyperwallet and its development team. They will be able to test drive the APIs before their general availability using a developer portal. The general availability is slated for early 2016.
Hyperwallet said the API will give clients the ability to integrate payout functionality into their own applications and also their own websites, offering access to the company’s financial network.
In a statement alongside the API announcement, Brent Warrington, chief executive officer of the company, said that “paying a globally dispersed workforce can be difficult for rapidly growing companies. While inbound payments have ubiquitous acceptance options, up until now, there has been limited options on the other end of the payment chain that easily allow businesses to integrate the capability to distribute earnings to their global earners."
“With Hyperwallet, that rail exists. What's more, with our APIs, companies will now have the opportunity to easily integrate our payout infrastructure into their applications and Web portals."
The company said its platforms serve over 5 million payees worldwide, with an annual processing tally of more than $5 billion in payouts, which span bank deposits, prepaid and virtual cards, checks, cash pickup and wire transfers.
In recent Hyperwallet corporate news, the company said it added three new executives to its board and said in a statement that the company overall has been growing at “a staggering pace.” Earlier this year, in separate interviews, Hyperwallet Founder Lisa Shields told PYMNTS and MPD CEO Karen Webster that among the key challenges for businesses remains making global payments as simplified a process as local payments, even when mass payments must be done on a huge scale across several thousand (or hundreds of thousands) of participants.
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