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GLOBAL tech company Hyperwallet has expanded its operations with the opening of its APAC headquarters in Sydney.
The new office is the group's first Australian base, allowing it to expand into the APAC region, after receiving ASIC's blessing to operate in Australia.
Founded in 2000, Hyperwallet is used to distribute payouts on behalf of some of the world's largest digital marketplaces, ensuring the safe and secure transfer of funds to more than 10 million payees worldwide.
Early adopters of the service in Australia include digital services marketplaces Freelancer.com, Marketplacer.com, and Tripfuser.
Hyperwallet's Sydney location is just its third office outside of the US and the first in the APAC region.
The APAC team will be led by Simon Banks (pictured), who previously headed PayPal's Australian Merchant Services business.
Banks says the company chose Australia as its APAC home because of the explosive growth in the development of ecommerce marketplaces and sharing economy businesses across the region.
"Australia punches above its weight in terms of innovation and adoption of marketplace and sharing economy businesses," says Banks.
"Over two-thirds of Australians now spend and earn money through the sharing economy. What's more, with high ecommerce penetration, very high mobile adaptation, digital savvy consumers, and strong payments infrastructure, Australia is a very attractive destination for global marketplace giants looking to expand into Asia-Pacific using Hyperwallet technology."
Hyperwallet's new regional office and local team allows it to capitalise on Australia's gig economy growth and support its local customers.
"Australia's gig economy and ecommerce marketplaces have done a fantastic job at removing friction from the customer experience," says Banks.
"Where Hyperwallet can help is the supply side of the transaction, both by streamlining the on boarding process for independent workers in the sharing economy and providing them with more payout options."
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