Basic Introduction of WePay

WePay online Payment Provider

WePay is an online payment provider in the US. The corporation provides a payment API to display place of businesses such ascrowd funding locations/sites, marketplaces and small business software.

WePay was established by Rich Aberman and Bill Clerico in 2008 in the Boston, Massachusetts, and is currently based in the Redwood City, California. The creative stimulation for WePay occurred to Aberman when he had complexity, raising wealth for his brother's bachelor party.

Aberman had to gather $4,200 from his fourteen friends spread across the US to pay for bottle service at a club, rental fee for a Florida beach house, and food such as burgers and chips.

WePay

To dedicate his energy to WePay, Clerico stopped functioning in an asset banking job and Aberman deferred a scholarship to law school at the NewYork University.

Aberman and Clerico establish trouble looking for traction in the peer-to-peer cluster payments space so they decided to transfer the focus of the corporation to help small businesses recognize credit cards online.

WePay then understand that the highest expansion division of their business and the one where they had an exclusive value proposal was through its API, which they had opened up in 2011.

Charges of WePay:

WePay makes money by charging a service charge just when money is collected. Payments with a the credit card charge a 2.9% + $0.30 service charge of the entirety amount of money collected.

In October 2011, the quantity of WePay employees improved by 20%. After its succession D round in 2015, WePay said that it had over 100 employees, and had tactics to cultivate to 200 in the next eighteen months.

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Partners of WePay:

In August 2010, WePay partnered with 1000 Memories, a website that permits users to generate memorial websites. The affiliation gives users of 1000 Memories the chance to generate free of charge WePay accounts, where visitors can utilize a credit card otherwise bank card to contribute in the names of the departed.

In February 2014, WePay joined by a web-based nonprofit software company, Aplos Software, to help nonprofits and faith-based organizations agree to online donations. Users could generate a free of charge WePay account, then track their donations and generate receipts using Aplos Donor Management.