Canadian Processor Launches Alternative Online Payments

Sept. 21, 2011

Global payment solutions provider hyperWALLET has launched a low-cost online merchant payment processing service for organizations and their customers. The Vancouver, B.C.-based e-commerce processor said its Direct Pay online merchant payment option 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,” said Bill Crowley, vice president 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.” The service is currently live with banks in the U.S. and Canada, with rollouts scheduled for England and Europe in early 2012. Eventually, the company said, the service will be linked to more than 50 hyperWALLET-serviced countries within two years.