hyperWALLET, a Canadian payment option (part 2)

In our current article that will focus on hyperWALLET payment service we are going to wider cover major aspects of the system work. As usual we will show our moderate test of the system we experienced and disclose the fee scheme accepted at hyperWALLET for individual users. Well, touching upon the later beforehand, we should notice that hyperWALLET turns out another not comprehensively competitive alternative to well-established leaders in the payment processing industry. Learn this and some other aspects of hyperWALLET peculiarities.

hyperWALLET’s web site has a rather attractive design with nothing superfluous or irrelevant in the appearance. The owners of the system took care about proper awareness of potential and current users and thus provided abundant information on almost each of the features and functions available with hyperWALLET.

 
But one of the most important buttons such as registration is not there on the surface. You can find the link directing you for subscription and creation of a new account only after you click on the ‘Login’ link.

After at last we found the ‘Sign up’ button we can start our journey through the registration procedure we have already done many times before. At first we as usual should fill in the fields of the registration form where we specify our personal information like name, country, email address and telephone number. In addition the system requires us to specify two security questions with the answers to them.

We should note that the registration didn’t flow in a smooth way as long as we ran across little problems most likely related to the errors of the server. As soon as we clicked submit button the system reported that we entered the invalid security code or Turing number that is usually provided upon registration with any payment processing service.

But we decided to click the submit button with the same Turing number and what a surprise the system displayed congratulations form advising us of the successful registration and the email message sent to our address.

Having checked our inbox we revealed a message from hyperWALLET with a link directing us to complete the registration procedure. After clicking on the link we come to the page where we are requested to activate our wallet. For this purpose we just need to enter our password.

After we activated our account we had to login with our Account ID, which is either Wallet I? or our email (optionally), and our password.

And finally after we completed all necessary procedures with the activation and Login we can view our member area page. The account area is not very complicated but there are still many features and options you can use. All the options are placed in the left panel. Well, we naturally will observe just few of them, most relevant.
In order to add funds to our account we use the ‘AddCash’ button. We then are offered to select from the funding types: either via any of Canadian unions or by the Bill Payments made at one of the specified financial institutions.

Let us select the first method and specify Coastal Community Credit Union in Canada. After we submit our application the system redirects us to the credit union’s site where we apparently should log into our ‘existing’ account and from there confirm our transaction.

Adding funds from the credit union account is instant while the fee is charged depending on the credit union. If you chose to fund your account with Bill Payment you will be credited within 1 business day but for free.

Other fees accepted at hyperWALLET include a fee of $0.25 CAD charged from the sender of Beam Cash, or email money transfer. For funds withdrawal a sender is charged $0.75 CAD. Users who transfer their funds from hyperWALLET to PayPal accounts through the PayPal Connector should pay a $1.00 USD fee. After two years of your account inactivity you will be charged $5 fro the dormant account. Furthermore, unlike PayPal which has a single fee schedule regardless of where the funds came from, hyperWALLET charges more for credit card-funded payments compared to those funded with deposit balances.

Part I: http://e-commerce-journal.com/articles/11718_hyperwallet_a_canadian_payment_option_part_1