Live Nation-owned event promotion platform Universe is to use Hyperwallet's technology to pay its ticketing agents.
Under a deal between the two companies, Universe has employed Hyperwallet, a global outbound payments provider that helps firms to distribute funds to their global contractors, suppliers and resellers, to streamline its cross-border payout workflow and provide sellers with quick and reliable local bank deposits in more than 90 countries.
Universe provides event ticketing software combined with promotional and marketing tools, helping event organisers to sell tickets online in over 600 cities around the world.
“It was clear early on that Hyperwallet was the ideal payout partner for Universe,” said Craig Follett, co-founder and chief executive of Universe, which recently expanded to the UK market. “As we continue to expand our platform internationally, we need a payment provider who can grow seamlessly with us into new markets.”
As part of their Hyperwallet solution, Universe hopes to be able to automatically reduce currency conversion costs and deliver more value to their ticket sellers.
“Universe is one of those companies that gets people excited about the new economy,” said Brent Warrington, Hyperwallet's chief executive. “Their platform is dedicated to empowering individual users with digital tools. With Hyperwallet’s payout technology, they will now be able to onboard and pay sellers faster and in a more frictionless manner.”
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