WePay is a platform payments company which, as of October 2017, is part of the J P Morgan Chase group. It handles digital transactions for platforms such as GoFundMe, FreshBooks and Constant Contact. In July 2016, WePay expanded into the UK, which was its first move outside North America.
Sections
WePay Credit Card Processing & Payment Services
WePay Payments
WePay accepts the following credit and debit cards. There are plans to include a wider range of cards.
- Visa
- Mastercard
- American Express
- Discover cards
WePay Pricing & Fees
WePay supports UK users that: –
- Have a UK address
- Have a UK bank account
- Want to accept payments in British pounds
- Want to have funds settled to them in British pounds
WePay’s pricing plans are now only available on request.
To see how that compares have a look at: UK Merchant Account and Credit Card Processing Fee Comparison.
WePay Features
- PCI security
- Integrated payments
- Apple Pay and Android Pay compatibility
- Risk API
- Custom UX
- Instant onboarding
- Mobile POS
- Transaction-level reporting
- Tokenisation
- Customer Service – 3 levels
- Silver – for platform businesses during office hours via email
- Gold – support through telephone, email, with faster response time
- Platinum – 24/7 with a dedicated technical account ret
Company Background
WePay was founded in Boston in 2008 by Rich Aberman and Bill Clerico. Rich Aberman developed the idea after finding it difficult to collect money from friends for his brother’s bachelor party. Friends had donated $4,200 in cash, cheques and via PayPal, so Aberman could pay for the various aspects of the party. However, receiving them via different means made Aberman’s life rather tiresome. He got together with his friend, Bill Clerico, and together they came up with WePay.
Bill Clerico has successfully grown WePay from a Y Combinator startup to 2017’s acquisition by J P Morgan Chase. Rich Aberman is WePay’s product strategist whose expertise is in high demand as a speaker at Fintech conferences. WePay opened its doors in Canada in early 2015 and, in 2016, announced it was opening up in the UK. In 2011, the company had 30 employees. By the end of 2017, this had risen to 180 employees located in California, Rhode Island and the UK.
WePay believes strongly in customer service excellence. In 2017, the company won 10 Stevie Awards, including Gold Award for Sales Distinction of the Year, Best Use of Technology in Sales and Customer Service Department of the Year in Financial Services.
The founders of WePay are always looking for innovative ways to showcase their products. In 2010, they made an uninvited appearance at PayPal’s developer conference. Messrs Clerico and Aberman dropped a 600-pound block of ice at the conference which was filled with dollar notes. Their point was made – PayPal freezes your money, so people should look elsewhere for their payment processor solutions.
WePay Pros & Cons
ePay Pros & ConsThe following pros and cons are based on information available on Sage Pay’s website and reviews from Trustpilot.
Pros:
- User friendly
- Good customer service
- Reliable platform
- Great for fundraising
- Speed and ease of onboarding
Cons:
- Complaints about holding on to funds
- Poor customer service
- High fees, especially on small donations
- No customer service phone number
- No customer service at weekends or evenings
WePay Reviews
- Trustpilot: 4 out of 5 based on 515 reviews
WePay Merchant Machine score is 4 out of 5.
Website: https://go.wepay.com
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