The Top Alternatives to Hyperwallet

• Thousands of cash pickup locations across the globe.
• Choose how and when you send, with competitive exchange rates and low fees.
• Mobile accounts and home delivery to the recipient’s address.

Remitly is a digital service without any physical locations. This enables the brand to keep costs low, making it a great solution for SMBs on a budget.

• Easy-to-use customer dashboard allows for a higher rate of transparency.
• Highly competitive and market-leading transfer rates.
• Swift and secure currency conversion.

The fees for Remitly depend on the amount of money you’re sending, the transfer speed, and the recipient’s country. 

If you choose the Economy plan, fees are lower and delivery is in 3-5 business days. The Express plan offers higher fees, which can increase depending on how much you send. In this case, delivery is instantaneous.

• Paysera Tickets for selling and publicizing events. 
• Contactless debit card with a separate account for tracking and controlling spending and expenses.
• Paysera Checkout integrates with SMS, QR codes, and other payment options.

Paysera is specifically designed for the European market, with support for about 70% of the EU. Paysera’s simple feature-set is mainly intended for SMBs looking to expand their business internationally from within the EU.  

• No maximum transfer limit (after identity verification).
• Separate account for savings with a split bill feature.
• No fees when transferring funds between Paysera accounts.

Pricing varies depending on the currency type and transfer speeds. Transfers through SEPA are always free of charge. The exchange rate will affect what you pay, but Paysera offers competitive rates, usually within a 1% margin.

• PCI DSS Service Provider Level 1 for encrypting, processing, and storing card data.
• Provides a complete payment solution with API-based integrated payments to merchants.
• Make hundreds of payments at once, with only a few clicks.

PayOp is the prime tool for SMBs looking to expand their business into new regions. Whether you’re looking to grow internationally or focus on a specific market, PayOp supports all major payment methods.

• Fast withdrawals (1-2 business days for funds), including mass payments via API
• In-depth analytics and real-time reporting on all payment methods and transactions
• Suitable for high-risk industries with attentive customer support through Skype

Rates start from a 2.4% + 2-cent fixed fee. Since there are over 300 methods for online processing, your price will vary. The Local Acquiring features enable businesses to bill customers in their local currency with a local bank.

• Multicurrency app to track your balance anywhere, in whatever currency you’re using
• Omnichannel payment processing (ACH, e-commerce, mobile) with top-level security
• Opt-in for a Net+ prepaid or virtual card that can be used at ATMs around the world

NETELLER was created for businesses looking for an online transfer and payment service capable of offering agility and security for high-risk transactions.

• Send money to overseas bank accounts with zero fees on international money transfers 
• Pre-built and custom reporting in real-time with tailored dashboards
• NETELLER Knect loyalty program that allows you to exchange points for cash rewards

NETELLER offers low-cost options with a wide variety of integrations for funding your account. Fees vary depending on the third-party payment option. The average processing cost is 2.5% per transaction. Withdrawal fees start at 0% and go up to 3.49% per transaction.

• Built-in tax compliance and self-service supplier onboarding.
• Effective mass payments and fraud risk reduction.
• A broad range of international payment methods and currencies to improve payment accuracy and timeliness, give early payment discounts, and provide proactive partner visibility.

Tipalti is an excellent solution for businesses looking to make their mass payments process faster, safer, and more efficient through automation. Whether your business is a startup or a large enterprise, Tipalti’s solutions are designed for all company sizes and industries.

• Streamline global workflows, unify operations, consolidate entities, and ensure regulatory compliance.
• Reduce workload and eliminates inaccuracies with a white-labeled multi-lingual self-service portal delivering a customized experience.
• Provides complete partner visibility, choice of payment methods, and automatic payment status emails to reduce inquiries.

Tipalti offers two separate plans for businesses: Tipalti Express and Tipalti Pro. 

Tipalti Express is designed with smaller companies in mind. Tipalti Pro is for medium and enterprise-sized companies requiring features like tax forms, multi-subsidiary payables, and international tax IDs. 

Pricing is always custom and varies based on factors like business needs, amount of users, and processing requirements.

Why does a best-in-class partner experience matter? 

1. Your partners are customer-facing and can positively or negatively affect your brand. Digital-first companies like online marketplaces live and die by their brand names.
2. The industry is highly competitive, and you need to attract and retain the best partners for your business. If you disappoint your partners, your competition is eagerly awaiting your misstep.
3. Partner churn is costly. 

Digital industry players must have a leading partner experience to inspire loyalty. According to a Tipalti survey, 74% of partners say they have or would leave the companies they work with because of payment issues. With Tipalti, it’s easy to achieve an exceptional partner experience. 

You can quickly onboard new, eager partners with self-service partner management. You can easily white-label the Partner Portal, which puts your brand front and center, not some payables or payment solution they may not recognize. That way, they feel comfortable dealing with someone they know and trust; you. 

You can collect all partner contact information to ensure a clean file and verify all their payment information and banking details, reducing payment errors down the line. Tipalti automatically validates supplier payment data in real-time using 26,000+ global banking rules to eliminate payment errors proactively.

With a self-service portal, your partners can check their payment status whenever they want. 

“Where’s my payment?” is the most common inquiry businesses get from partners. With a custom portal linked to relevant payment data, your staff no longer needs to answer phone inquiries or respond to emails and Twitter DMs. Partners also receive proactive, white-labeled payment status updates via email to minimize any further inquiries. Portals can be localized so that language barriers can be overcome as well. 

• Lastly, Tipalti’s end-to-end payables platform makes offering early payments easy and frictionless. With early payments built right into the payments process, partners can opt in with just a few clicks, giving them faster access to cash to grow their business while earning you payment discounts for early remittance. Hyperwallet does not have early payment capabilities.

One of the key pillars of any growing organization is ensuring there is no fraud while maintaining tax and regulatory compliance. Since mass payments involve direct access to cash reserves, it’s important to institute proper controls and governance. Tax compliance is another crucial aspect, as manually collecting and validating tax forms from partners is fraught with legal and financial risk.

With Tipalti, companies strengthen their compliance controls and reduce tax, regulatory, fraud, and audit risk with built-in compliance and advanced financial controls. Tipalti has role-based security, audit logs, SOC compliance, GDPR compliance, “Do Not Pay” blocklists and OFAC screening, VAT and tax ID document collection with a KPMG-approved tax engine, and more.

Because Tipalti manages the end-to-end partner payments operation, companies can track a wide variety of relevant data points—contact details, account numbers, emails, and payments—to proactively uncover patterns to pinpoint and identify potential fraudsters in your network. 

Leveraging the power of AI, Tipalti Detect has blocked more than 7,400 payees, resulting in $4 million in potential savings, meaning you can cut down payment risk without any additional work on your end. Hyperwallet currently does not have fraud management capabilities as part of its solution. 

Tipalti solves the complex and manual process of collecting tax information via digital capture technology during the onboarding flow, ensuring information is validated before a payment is processed. Tipalti helps ensure IRS tax compliance with KPMG-approved tax form data validation and withholding calculations. 

Tipalti also collects W-9 and W-8 tax forms, validates IRS and VAT tax IDs, automatically calculates withholdings, and generates 1099 / 1042-S tax prep reports with automated filing. Hyperwallet’s tax capability is not KPMG reviewed or approved for IRS use and may expose you to more errors and added time from collection through to filing.

You need a payable solution with built-in scalability to help future-proof your payable operations.

As your company grows, your partner payment workflow becomes more complex. This includes paying global partners, handling multi-subsidiary payables, and processing mass payouts. You also need to offer a vast range of localized payment methods to pay both domestic and international partners in their preferred payment methods and local currencies.

Tipalti’s end-to-end mass payments platform future-proofs your operations, so you don’t have to keep allocating more resources to your company’s payables as you grow. Tipalti’s multi-subsidiary capability enables payers to manage a large number of entities within the same instance, allowing for subsidiary-level workflows with centralized controls and financial reporting.

Tipalti allows you to seamlessly trigger payments to your entire partner base with performance analytics from your performance marketing systems while integrating detailed, accurate transaction and reconciliation reports with your ERP system. Hyperwallet does not offer performance marketing and ERP/accounting systems integrations.

Tipalti supports local and VAT tax ID collection in 49 countries with a built-in tax engine that validates against over 3,000 rules to prevent ID errors and issues for non-US businesses. Hyperwallet only supports foreign TIN numbers for US businesses.

Additionally, for European countries, Tipalti supports document collection so partners can provide additional information when needed and self-billing invoices where partners must approve invoices before payments are processed.

Hyperwallet’s solutions are suitable for small businesses with lower payment volumes. However, they are relatively unproven at scale with prominent digital industry players who have high volume mass payment workflows. The company does not provide customer references or case studies and relies heavily on the PayPal brand for credibility. Hyperwallet is a small business with less than 100 employees, so it may have difficulty supporting your needs as you grow. 

Companies can quickly outgrow Hyperwallet as it has some limitations that can lead to more manual effort and time spent on the financial close and payment reconciliation processes. 

Hyperwallet does not offer integrations with performance marketing systems to tie performance analytics and data to partner payments, gain visibility into the complete publisher performance-to-pay lifecycle, and easily sync onboarding data from publishers, affiliates, influencers, content creators, or other marketplace partners. Hyperwallet also does not offer any ERP/accounting system integrations.

Hyperwallet offers nine payment method options: PayPal, Venmo, ACH, check, direct to debit, prepaid card, virtual card, eGift card, and cash pickup. This compares to Tipalti’s six payment methods: PayPal, ACH, check, global ACH (eCheck), wire transfer, and prepaid debit. 

Hyperwallet does a good job of providing payments to banked and unbanked payees with its supported payment options. Tipalti also services unbanked and underbanked payees with its prepaid debit card payment option. 

However, Hyperwallet restricts payment methods to PayPal and Venmo only for SMBs. Other payment methods are reserved exclusively for enterprises, marketplaces, and platform customers. SMBs are limited to using a PayPal business account with payment volume thresholds, PayPal branded self-service onboarding (Tipalti offers a white-labeled onboarding experience), and some currency restrictions. With Tipalti, all payment types, features, and functionalities are available, regardless of your business’s size. Additionally, while Hyperwallet and Tipalti are comparable regarding region support, Tipalti supports close to three times the number of currencies for payouts, in addition to other services like FX hedging. 

Hyperwallet is a solution with a low barrier to entry and limited implementation costs, designed for simple setups. There are no volume or term commitments, and getting started is very easy. However, more complex options require IT resources to configure it to your current system accordingly. 

Comparatively, Tipalti has a proven track record of getting its customers live in just a few weeks and some cases, even in as little as a few days. Tipalti provides a “white glove” service that offers dedicated implementation, customer success, and partner enablement experts. Tipalti’s solutions do not require any IT resources unless advanced API integration is needed.

Hyperwallet is more affordable as they do not offer the same level of capabilities as Tipalti. 

Tipalti accommodates the needs of growing and scaling companies from end to end, starting with partner onboarding and tax compliance, through to reconciliation and reporting. There’s no need to switch out Tipalti for another solution or purchase additional add-ons to gain functionalities beyond global remittance as your business becomes more complex.