Mar 25 , 2010

hyperWALLET offers Canadians global mobile top-ups

By Robin Arnfield, News Editor

VANCOUVER--hyperWALLET Systems has launched a mobile airtime top-up service, enabling Canadian residents to send airtime credits to cellphones owned by friends and relatives abroad. The new airtime service follows hyperWALLET's recent launch of a global money transfer service for the Canadian marketplace.

"Both global money transfers and the mobile airtime top-up service are available through our website and at participating credit unions across Canada,” says David Evans, hyperWALLET’s Marketing/Communications Manager. "With global money transfers, Canadians can transfer funds to recipients in over 30 countries worldwide at C$7.00 per transaction, well below the price of competing international remittance services. With mobile airtime top-ups, consumers can now send airtime credits to recipients in 25 countries worldwide."

To use either the airtime top-up service or the global money transfer service, senders can set up and fund their hyperWALLET account at http://www.hyperwallet.com, or use the hyperWALLET link within their credit union's online banking site.

The airtime top-up service enables airtime credits to be sent to subscribers of 70 mobile operators across 25 countries. The service is offered in partnership with TransferTo, an international airtime transfer network provider offering small-value top-ups via cellphone. Once their hyperWALLET account has been funded, senders simply enter the recipient’s cellphone number, a greeting message, and select from the various airtime voucher amounts available.

Transactions are processed in real-time, and both the sender and recipient are immediately notified by SMS text message. Airtime credits can also be sent from mobile devices that are equipped with mobile web browsers.

Evans says that in a number of international markets - for example Kenya and South Africa - cellphones are also being utilized as mobile wallets, through which airtime credits can be used to make purchases or cash withdrawals at merchants. “Enabling both the banked and unbanked members of society to use airtime for transactions is certainly a valuable component of any m-finance ecosystem in these regions, and beyond," Evans says.

hyperWALLET’s blog (http://www.paymentstalk.com) notes that by enabling credit unions to offer global money transfer services, the organization can provide these financial institutions with an additional revenue stream channel.

“Despite strong consumer demand for such (money transfer) services, Canadian credit unions have previously not had a cost-effective way to offer these services in order to compete with similar offerings from the Canadian banks, or even against traditional retail money transfer operators", the blog states. "hyperWALLET sees a significant opportunity for the Canadian credit unions to tap into the international remittances market by offering competitive global money transfer products, particularly to ethnic communities that send money home on a regular basis."

"In addition, by enabling Canadians to send airtime credits to friends and family back home, hyperWALLET is providing both consumers and participating credit unions with an even broader scope of international value transfer services. These types of services are also available to financial institutions and mobile operators worldwide, who wish to deploy hyperWALLET's brandable, turnkey global payments technology and m-commerce platforms."

 

 

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