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HyperWallet partners Wip

11 February 2011  |  3702 views  |  0 Source: HyperWallet

HyperWallet, a leading provider of global payment solutions, today announces its partnership with Wip (Wireless Industry Partnership), an international company building mobile developer communities, to offer a payment solution tailored for mobile app store providers.

WIP has created the world's largest agnostic community of mobile developers, and supports the entire mobile development ecosystem by encouraging discussions, co-creation and exchange. WIP's products, services and events enhance mobile developers' success and increase innovation in the mobile ecosystem.

To support developers, hyperWALLET is providing WIP with global money transfer capabilities at a significant cost advantage to traditional wire- and paper- based payment options. Developers will be able to receive payments from app store providers directly into a secure online account, easily transfer funds to personal bank accounts, and receive email and SMS alerts when funds are deposited and easily track transaction history.

App stores that pay developers and suppliers around the globe face many challenges to make payments that are cost-effective and operationally efficient. Developers want quick payments without restrictions on monetary value, no matter where they are. Traditional payment methods often incur high distribution costs, and the process can be resource-intensive and administratively burdensome, as well as inconvenient for the payment recipient.

"WIP is one of the most exciting companies in the mobile community as they really have the developers' needs at the core of their services. The excessive fees paid to banks or time delays and fees associated with checks is definitely a sore point today for developers," says Lisa Shields, CEO of hyperWALLET.

"Our partnership with hyperWALLET illustrates our commitment to mobile developers by providing a payments solution that offers them lower fees and increased flexibility," says WIP CEO Caroline Lewko. "WIP Payments, powered by hyperWALLET, brings mobile developers quick and convenient payment services, while cutting costs for app store providers to enable multi-currency payment to their developer suppliers around the world. This is a win-win for developers and app stores, becbecause it helps to deal with payment fragmentation and the global nature of our industry. App stores and developers are located all around the world, but expect payment in their own currency; our goal is to create a central payment hub for developers, and pay them in the currency of their choice, with the flexibility, speed and low cost they want."

The WIP Payments solution, powered by hyperWALLET, provides cost savings of an average of 75% compared to wire transfers, and significant time savings and convenience compared to paper checks. The solution is currently supported in 20 currencies across 45+ countries at an average cost of $3.00 - $7.00 USD per transaction depending on the country. WIP Payments is available now for app store providers, and can be integrated into backend systems in a manner of weeks.

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