hyperWALLET has announced the availability of its new low-cost online merchant payment processing service for organizations and their customers with the “Direct Pay” online merchant payment option. The service provides a secure, cost-effective complement to card payments by enabling customers to pay for products using funds from their bank account, an online e-wallet, or combination of both.
“Until now, organizations experiencing high merchant processing fees had little choice when it came to lowering payment costs or offering customers additional payment acceptance methods,” states Bill Crowley, VP of Product Development at hyperWALLET Systems Inc. “By using Direct Pay, companies can gain dramatic cost-savings compared to card processors, and can offer customers a convenient way to make purchases online without maxing out their credit cards.”
For businesses, implementing the Direct Pay service is a simple process and requires only a one-time integration to hyperWALLET. Companies can offer Direct Pay via their company’s website payment page, where customers select it as a payment option during the e-commerce checkout process. Using Direct Pay, funds are debited from the customer’s existing e-wallet or bank account (or a combination of both), and their product purchase is complete.
“The benefits of Direct Pay go beyond cost-savings,” notes Crowley. “In addition to our low processing fees, the Direct Pay service helps companies manage chargeback and rolling reserve levels to free up cash flow, and reach more customers by offering e-wallet & bank debit payment options in addition to credit and debit cards.”
Direct Pay also supports loyalty points, enabling companies to define their own loyalty points schemes and redemption rules for product purchases or company promotions.
Like all hyperWALLET payment services, Direct Pay is designed for organizations which operate on a global scale. The service is currently live with USA and Canadian banks, with rollouts scheduled for England and Europe in early 2012, for eventual linkage to all 50+ hyperWALLET-serviced countries within two years.