Hypur
| Company type | Private |
|---|---|
| Industry | Financial technology, Banking technology |
| Founded | 2014 |
| Founder | Michael J. Sinnwell, Jr., David J. Querciagrossa, Todd Fuller |
| Headquarters | Scottsdale , United States |
| Products | Payment and banking technology platform, Hypur Pay |
Hypur is a payment and banking technology platform headquartered in Scottsdale, crafted to assist financial institutions in responsibly and sustainably servicing highly regulated sectors, including the cannabis industry.
Established in 2014, this platform tracks transactions and delivers the transparency necessary to meet regulatory compliance standards.
Overview
The creation of Hypur involved collaboration between banking compliance experts and software entrepreneurs such as Michael J. Sinnwell, Jr., David J. Querciagrossa, and Todd Fuller. They recognized deficiencies in conventional banking procedures when applied to emerging, tightly regulated markets and developed specialized solutions to address these challenges.
By integrating with POS systems, the software ensures adherence to state regulations while improving due diligence through document management capabilities that facilitate auditing of licenses, financial statements, tax returns, property leases, among other documents.
Hypur's technology empowers financial institutions to serve cash-heavy businesses including money service providers like payday lenders, check cashers, and money transmitters, as well as sectors such as off-track betting and pawnshops.
Hypur Pay
Hypur Pay provides a secure digital payment alternative to cash, debit, and credit cards. It equips banks and credit unions with immediate transaction insights and maintains a chain of custody for cash, supporting compliant transactions within federally restricted industries.
Additionally, the solution incorporates automated document handling, invoice processing, sophisticated reporting tools, and personalized alert systems that enhance regulatory adherence and operational productivity in complex markets.