HyperJar Teams Up With Modulr to Power Lightning-Fast Payments
What’s the scoop? HyperJar, the savvy budgeting app that turns your savings into a digital jam‑jar, has just partnered with Modulr — the payment engine that’s basically Faster Payments’ own secret sauce. Starting 18 August 2020, HyperJar users will enjoy real‑time transfers that are as fast as a pick‑up order at your favorite coffee shop.
Why this matters for HyperJar
- HyperJar is gearing up for a full public launch later this year, and instant payments are the cherry on top.
- Modulr is one of the very few non‑bank players to be a direct participant in the UK Faster Payments Scheme, and it safeguards funds at the Bank of England.
- With Modulr’s 24/7 engine, 99 % of HyperJar payments hit within 90 seconds, backed by rock‑solid SLAs.
The HyperJar Approach
Think of HyperJar as a digital jam‑jar that helps you plan, budget, and spend without the monthly bill anxiety. You put money into the account, then divide it into virtual Jars for groceries, bills, travel, or those nights out that keep you sane. The app also issues a prepaid Mastercard for those extra spending jitters.
Under the hood? HyperJar is pioneering direct payments from unlimited sub‑accounts, each neatly segregated. This means every transaction is correctly funneled to the right Jar—no more “I thought I’d paid for breakfast, but it went to travel!” moments.
Sharing is Caring (and Calculating)
Users can collaborate on up to 100 friends in a single Jar. Picture a pop‑up joint account that’s as easy to add as a sticky note. And prepaying to partner merchants (like Lidl, Shell, and Virgin Wines) rewards you with a 4.8 % Annual Growth Rate for up to 12 months; the app’s odometer updates in real time.
Insightful Analytics
Retail partners contribute brand assets and track transactions. Then HyperJar crunches that data to reveal broad and niche spending trends, plus the coveted “intent to spend” signals. This means brands can cut costs on customer acquisition and boost lifetime value.
Voices from the Frontlines
Shane Herraghty, Card Ops Manager at HyperJar: “Modulr and HyperJar share a shared vision of best‑in‑class payments tech. We’re thrilled to enhance our product together.”
Myles Stephenson, CEO of Modulr: “HyperJar is forward‑thinking. Their budgeting app is a game changer for families amid tough economics. Our 24/7 infrastructure will keep these instant transfers rolling as they grow.”
Ready to Join?
HyperJar’s game‑changing combination of intuitive budgeting and lightning‑fast payments is set to make saving feel like sliding a card through a well‑tuned machine. If a user’s experiencing the “money‑row” nightmares, HyperJar + Modulr might just be the dream team you need.
