Tyler Beuerlein is the Executive Vice President of Business Development at Hypur, @HypurInc.
In his role, Tyler leverages his extensive experience in building brands and managing key relationships and strategic partnerships.
He founded and managed a large beverage company prior to joining the Hypur team and was a professional athlete in the New York Mets organization.
Tyler’s vision informs the direction of the Hypur sales force.
Hypur was founded on the belief that legitimate businesses should have access to basic banking services – like a bank account and proper electronic payments.
Unfortunately, businesses in many industries struggle to maintain basic banking services because financial institutions simply don’t have the tools to serve them.
Traditional banking and payment systems weren’t designed for emerging, highly-regulated and cash intensive businesses.
Their technology bridges the gap between traditional banking and payment systems and the unique needs of these businesses so financial institutions can confidently serve these industries.
We got a chance to catch up with Tyler. Read on to know more about him and Hypur.
What is Hypur? And what is your role in it?
Tyler Beuerlein: Hypur is a combination of a Regtech and Fintech technology provider for Financial Institutions that enables Banks and Credit Unions to bank highly regulated industries.
Our clients are Banks and Credit Unions, but our technology touches their merchants and consumers by enabling permissible digital commerce in industries where traditional forms of payment are not available.
My role in the company as EVP of Business Development has touched every aspect of the business over the last four plus years.
My days are spent with our Bank and Credit Union clients, the operators they Bank, State and Federal regulatory bodies, key government officials, the cannabis industry, industry associations and also media outlets throughout the country.
What is Hypur’s mission? And when was it established?
Tyler Beuerlein: Hypur’s mission is to enable Financial Institutions to profitably and transparently Bank highly regulated industries throughout the country and enable permissible means of payment that enable these industries to thrive.
Why should cannabis businesses choose Hypur? What types of payment do you accept?
Tyler Beuerlein: Cannabis business have access to Hypur through our Bank and Credit Union clients. They should choose Hypur because our clients are transparently Banking the industry.
In addition, the industry gains access to Hypur Commerce, our consumer to business payment product and Hypur Payments, our B2B product.
Merchants have access to both a transparent banking relationship and permissible forms of payment through our relationships.
Is it easy to become a merchant in Hypur? How do you vet them?
Tyler Beuerlein: Again, our clients are Banks and Credit Unions. They vet the potential clients. We typically place merchants seeking Banking in this industry with our Bank and Credit Unions clients.
They then have access to our payment products through the Financial Institution. Becoming a Hypur merchant is an easy process once that merchant’s account is open at our Bank or CU client.
Merchants are afraid to have their banks shut down. How does Hypur ensure reliability, safety and security?
Tyler Beuerlein: Hypur helps the Financial Institutions make the most difficult accounts they Bank, the most transparent.
Ultimately that is what help regulatory bodies feel comfortable with these institutions Banking the industry.
Hypur Commerce and Hypur Payments also enable these institutions to originate transactions on behalf of their own merchants, getting cash out of the system.
There are a lot of cannabis businesses that are looking for a payment system. How can they apply and what documents do they need to prepare?
Tyler Beuerlein: They can call Hypur and we will get them paired with the appropriate bank or credit union depending on a myriad of factors.
What is your advice for ganjapreneurs looking for a payment system?
Tyler Beuerlein: Be aware that the choices you make can potentially have a negative effect on your ability to gain a transparent banking relationship.
Always ask your Bank or Credit Union what they are comfortable with you using.
We have seen operators throughout the country make poor choices when evaluating payments options that have ultimately impacted their banking relationships.
Thank you so much Tyler! We are grateful that you took the time to do the interview.
If you want to know more about Tyler and Hypur, check out their website, Hypur.com