The Engine That Powers Payment Platforms
Founded in 2008, WePay, Inc. (wepay.com) is a merchant account alternative that first started as a competitor to services like Stripe. The company’s primary focus is providing online platforms with the ability to collect payments from customers and donors (for example, through websites like GoFundMe.com). WePay allows virtually any website to integrate an account to collect payments from participating users via ACH bank transfers and credit card. The service has no setup fees, no monthly fees, and no service length requirement.
Is WePay Holding Your Funds Right Now?
Thousands of merchants have had their payments frozen by WePay. If you’re one of them, then you might find these resources helpful:
- How To Make Your Payment Processor Release Your Money
- How to Fight Chargebacks
- Best Merchant Accounts for Non-Profits
Shifting Its Focus Away From Small Business
Over the last few years, WePay has changed its branding to present itself as a white-label payment platform that can be integrated into an existing e-commerce store or utilized as the backend platform for an online marketplace or fundraising system. This makes it less of a peer-to-peer or business-to-consumer service and more of a backend software solution for payment-oriented businesses and startups. In fact, the company is considered one of the top payment processors for online marketplaces. This newly emphasized function makes the company less relevant for most types of small business owners. In October 2017, JPMorgan Chase acquired WePay.
Headquartered in California
WePay collects a fee of 2.9% plus $0.30 for credit card payments and 1% plus $0.30 for bank transfer payments, and it also provides several tools for collecting payments. WePay’s headquarters can be found at 350 Convention Way, Redwood City, California 94063. The company’s CEO is Bill Clerico.
- Costs & Contract: WePay’s pricing and contract terms will vary depending on the WePay partner a merchant works with.
- Complaints & Service: WePay has received more than 250 public complaints.
- BBB Rating: WePay has an “A+” rating with the Better Business Bureau and has received 84 complaints and 91 reviews in the past three years.
- Sales & Marketing: WePay does not market directly to merchants and has not received any complaints about its sales practices.
- Rates & Fees: How Merchants Got The Best Rates With WePay
WePay Statement Analyzer
Find hidden fees, pricing errors, and overcharges in your WePay merchant account statement. Not with WePay? That's ok, we can find excessive fees in any credit card processing statement. We've already found $1,156,834 in hidden fees this year! Submit a recent statement to try it out for free!
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