Global payout provider Hyperwallet is helping citizens scoot through the streets– that is, helping the freelancers that keep users scooting through the streets get paid. The PayPal-owned fintech announced today that it has agreed to power outbound payments for Lime, the scooter and bike rental startup that aims to reduce reliance on cars for short-term trips.
Lime, which has scooter rental operations in 100 cities across the globe, is leveraging Hyperwallet to help its network of freelancers (a community Lime calls Juicers) receive payment for keeping Lime’s fleet of scooters charged. Brent Warrington, Hyperwallet’s General Manager, commented on Lime’s “creative business model,” saying that it “provides a new, flexible earning opportunity for individuals.” With Hyperwallet, the Juicers get paid on a daily basis.
“Hyperwallet’s platform gave us the functionality we needed to scale quickly and offer our Juicer community fast and convenient payouts,” explained Ryan Foutty, Global Head of Business Development at Lime. “This partnership has allowed us to launch our business in new markets and deliver a great localized experience for Juicers all over the world. We are excited about expanding our collaboration with Hyperwallet in the coming months.”
Austin-based Hyperwallet fit the bill for Lime’s list of specific requirements, which included sending fast payments, facilitating local disbursements to multiple geographies, and allowing Juicers to receive payouts using their preferred method. “Hyperwallet’s platform has helped add value to our Juicer program by giving us the ability to offer fast, efficient, self-service payment disbursements,” added Foutty.
Founded in 2000, Hyperwallet most recently presented at FinDEVr Silicon Valley 2016. At the event, Bill Crowley, Chief Product Officer, and Blair Olynyk, Software Architect, gave a presentation titled, Pay the Planet: Implementing Frictionless Global Payout Distribution.
PayPal acquired Hyperwallet last November for $400 million. The company, which was founded in 1998 and has a market capitalization of $138 billion, showcased its Instant Account Creation feature at FinovateFall 2012.