Welsh Water is the first utility company to join UK digital wallet and PayTech innovator, HyperJar.
From today, the water company can offer HyperJar's unique 'save up together, pay together' option for its customers who share bills in groups, and who prefer a ‘little and often’ approach to settling their expenses.
HyperJar, which had its public launch in October 2020, can be downloaded for free on to any smartphone and comes with a prepaid debit Mastercard. HyperJar customers use virtual ‘jam jars’, each of which is effectively a sub-account, to divide their money by category, occasions, places and the people they spend with - from utility bills, food shopping and nights out to Christmas and holidays. The HyperJar card can be linked to any Jar to pay from it directly.
The app has partnered with some of the UK's best known businesses - including TUI, Shell, Dyson and now Welsh Water - to offer exclusive payment options and rewards. Now the three million customer served by Welsh Water can use the HyperJar app to budget before they get their water bill, locking-in ‘little and often’ amounts with the utility until it’s time to pay in full. Jars can be shared with other HyperJar users who are jointly responsible for water bills, such as in student households. Unlike joint bank accounts, shared Jars are instant, hassle-free, easy to close and the sharers’ credit scores are never linked.
Mat Megens, HyperJar’s founder and CEO, says: “Our tech makes HyperJar a uniquely helpful solution for shared household bills: instant digital kitties and a budgeting tool that's simple, transparent and free. It's absolutely great to welcome our first utility to the app. Especially such an innovative business that’s been quick to see HyperJar’s potential to help their customers.”
Making micro-payments
Customers who pay their Welsh Water bill using HyperJar open a virtual Jar with the utility company in the app. Any money paid into this Jar is then locked-in and committed to Welsh Water until the payment is due. People who prefer chipping away at regular household expenses can set a goal in their Jar for the estimated final bill and then add small amounts over weeks and months as their budget allows until the goal is reached and payment is due. All Jar sharers with spending permissions can link their HyperJar card to the Jar and pay from it directly.
A solution for shared bills – like a WhatsApp group for money
For student households or groups of friends who live together, Jars offer the perfect solution for shared bills. If everyone in the house has a free HyperJar account, they can share a Jar, and all pay in their portion of the bill. Sharers see exactly who has paid in, what and when and can even leave notes for each other – from nudges for payments to shopping lists in a shared groceries Jar.
About the HyperJar app
HyperJar is now the only free-for-everyone budgeting and spending account with apps and cards for adults and children aged 6+. The HyperJar card is accepted everywhere that takes Mastercard, although it cannot be used to withdraw money at ATMs. Deposits paid in to HyperJar are kept safely in the Bank of England until spent.
HyperJar is the only money app that lets you:
• Organise your money the way you think about, plan and spend it. Use virtual Jars to divide it by category, places, occasions and people.
• Share any Jar for saving up and spending with flatmates, family and friends, instantly.
• Spend directly from any Jar.
• Beat bank rates and inflation by planning ahead with HyperJar partners like TUI, Shell and Notonthehighstreet.
HyperJar can be downloaded from the App Store and Google Play store.