Global payments provider Hyperwallet is expanding its workforce payments offerings.
A press release on Thursday (March 22) said Hyperwallet is partnering with recruiting platform tilr to facilitate payouts to workers. Together, tilr will be able to expand its platform for unbanked and underbanked employees by linking workers to payment via a prepaid card, the companies said, while the integration will also help tilr approach daily payout to workers that use the tilr platform.
“The ability to offer real-time payouts to a branded prepaid debit card was a tremendous asset to us,” said tilr COO and Co-Founder Summer Crenshaw. “Our goal has always been to provide a sustainable ecosystem for independent workers so that we may reach all demographics of worker.”
“Ensuring that we’re able to provide our community members with a safe and convenient way to collect their earnings is of paramount importance to us,” Crenshaw continued. “The Hyperwallet solution allows us to meet that goal while also serving the unbanked population. Hyperwallet also helps to provide tilr with an additional competitive advantage for our clients as we work toward daily pay for our users.”
The integration is facilitated via data tokenization and API calls, allowing Hyperwallet’s payout solution to work within tilr’s web and mobile applications.
Crenshaw added that the integration will first be available for payouts in U.S. dollars, though the companies plan to expand their partnership to support additional currencies.
Last year, Hyperwallet announced an expansion of its own payout capabilities by adding wire payouts via Western Union’s Mass Payments technology. At the time, Hyperwallet noted that wire transfers support international payouts when ACH networks are unavailable while improving visibility to transfer and foreign exchange fees.
Hyperwallet and Western Union Business Solutions said the enhancements can support the widening gig economy that has led to heightened demand for more seamless cross-border payout capabilities for on-demand workers and hirers.