In the press release, Hyperwallet CEO Brent Warrington explained that recording artists face a struggle of income unpredictability. “Our job as a global payout platform is to help change the way these folks get paid, ultimately ensuring financially vulnerable workers have quick, efficient, and secure access to their earnings, whenever and wherever they need them,” he added.
Hyperwallet’s payout solution is scalable and allows users to get paid in real-time. This is valuable to Lyric clients, who will benefit from faster, more efficient royalty payment advances that help smooth out irregular and delayed payouts for their work. “Powering our royalty payment disbursement platform with Hyperwallet has not just improved the speed of distribution, but has also further increased visibility into the process for our payees,” said Eli Ball, Lyric Financial CEO.
Since Hyperwallet facilitates low-cost bank transfers across almost a dozen countries, including India, Russia, Brazil, and Indonesia, the partnership will also help Lyric support its growing roster of global clients. Ball added, “It’s reassuring knowing that the Hyperwallet network can easily enable us to expand our local payouts across 100+ countries quickly and easily.”
Hyperwallet most recently presented at FinDEVr Silicon Valley 2016, where Bill Crowley, Chief Product Officer, and Blair Olynyk, Software Architect, gave a presentation titled, Pay the Planet: Implementing Frictionless Global Payout Distribution. Last December, Hyperwallet began supporting payouts from Amazon’s Australia marketplace. Hyperwallet was founded in 2000 and is headquartered in Austin, Texas.