Payment Methods Available with Hyphen Wallet for Suppliers, Contractors and Trades
a RTP bank eligibility for Supplier to receive RTP payments. To find out if your bank is RTP eligible, click here.
b % fee to Supplier to receive an expedited payment from Builder. No fee for ACH or Check payments.
c % for eligible banks only.
Gain Visibility Into Payments and Invoices
Hyphen Wallet provides Suppliers a window into payments made by Builders with real-time payment status via the Hyphen Wallet portal. Hyphen Wallet also allows Suppliers to view payment reports in SupplyPro and download them into excel for further analysis. Now Suppliers can be easily connected to the home builder’s payment system.
Securing payments have never been easier. We invite you to check out our Hyphen Wallet explainer video!
Real-Time Data Flow
Reduce Fraud and Increase Security
Hyphen Wallet Product Features
Complete control on how payments are received - RTP, Virtual Card, Wire, ACH or Check
24/7 access to status of payments and funds
Ability to change payment options in real-time as opposed to a one-time payment choice at setup
Real-time messaging and transparency
Enhanced security and real-time funds availability
24/7 always on service
100% paperless transaction
FIND OUT WHAT YOU'VE BEEN MISSING
See How SupplyPro with Hyphen Wallet Helps Corey Construction Streamline Accounts Receivable (AR) Processes
"As a longtime user of SupplyPro and now Hyphen Wallet, we greatly appreciate how Hyphen Solutions continually innovates by launching robust tools that streamline processes for any size Supplier as they grow and build their brand."
Comparing Hyphen Wallet To Legacy Payment Methods:
With Hyphen Wallet You Will:
- Receive payments in seconds vs 5-7 days with traditional checks.
- Have flexible payment methods, change your payment preference at your convenience.
- Gain real-time payment visibility into payment status for all received builder payments.
- Minimize Accounts Receivable and Accounting support. With electronic payments you no longer have to worry about lost checks in the mail.
- Prevent fraud with increased security of electronic payment methods.
Potential Issues of Staying with Legacy Payment Options:
- Longer wait times for payments (days vs seconds).
- Increased risk for fraud and lost checks in mail.
- Long and manual reconciliation process.
- Increased support needed by Accounting and Accounts Receivables teams.
- Minimized access to cash flow.
The Evolving Landscape of Payment Methods
Why Builders are Adapting
Sticking with current legacy construction invoice and payment systems can prevent your business from potential opportunities. What did 120 organizations say about factors driving change for payment management systems?
Need to improve efﬁciency of the invoice payment management system
Need to respond to technological innovations
Need to reduce systemic risk
Market demand for better payment system/settlement services
End-user demand for better payment/settlement services
Government demand or better payment services
Suppliers, Take Advantage of Faster and More Secure Payments
that will Ultimately Help You Manage and Grow Your Business More Efficiently.
Hyphen Wallet FAQs
Hyphen Wallet enables your Builders to pay you, their Supplier, in an automated, secure and quicker process via the electronic payment method of your choice. Ultimately, you the Supplier will receive your payment faster and more reliably using Hyphen Wallet.
- Real-Time Payment
- Virtual Card
- Wire Transfer
- Same-Day ACH
- Next Day ACH
- Standard ACH
RTP is a payment sent through the RTP Network that provides real-time funds availability to Suppliers. Funds from an RTP payment are immediately received in your bank account within seconds of transfer. Funds are available 24 hours a day, including weekends and holidays.
Virtual Card is another option for expedited instant payment. Virtual Cards can be processed by anyone who accepts traditional credit card payments.
A Wire Transfer is an electronic payment service used to move money between bank accounts. Processing times range from same-day to 24-hour processing time from payment initiation.
An ACH payment is a type of electronic bank-to-bank payment option. Payments made in the US via ACH are made through the ACH Network, rather than going through the card networks such as Visa or Mastercard. Same-Day ACH payments take less than 1 day to process, Next-Day ACH takes 1 day to process, and Standard ACH payments take approximately 3 days to process to your bank account.
Yes, enroll in Real-Time Payment or Virtual Card and you will receive payment immediately. Enroll in Same-Day ACH or Wire Transfer and you will receive payment within 24 hours.
Yes. Over 70% of bank accounts are RTP eligible and increasing all the time.
To verify if your bank is RTP eligible, visit: https://www.theclearinghouse.org/payment-systems/rtp/rtp-participating-financial-institutions
Hyphen Wallet is a FREE service to Suppliers provided by your Builder. There is no cost to you the Supplier to accept payments via check or ACH. There is a % fee for expedited payments accepted using Real-Time Payment, Wire Transfer, Same-Day ACH, Next Day ACH or Virtual Card.
Yes. To accept electronic payments, a signed Hyphen Wallet agreement is required. This agreement is for a 12-month term and auto-renews.
Hyphen Wallet is a free application, however, we need to update your SupplyPro account to include Hyphen Wallet.
Hyphen Wallet is a financial application, and we are required to “Know Our Customer” to ensure that we are exceeding all Federal Financial Compliance regulations.
How do I access the Hyphen Wallet portal to view transactions, make changes to payment methods and update banking information?
Please visit https://wallet.hyphensolutions.com to view transactions and make any payment method or account changes.
It will take 5-7 days from signing up for Hyphen Wallet to receive your first payment.
Yes, you can change your payment method at any time. All changes can be made in the Hyphen Wallet portal: https://wallet.hyphensolutions.com.