WePay
Parent JPMorgan Chase | | |
Website | go.wepay.com |
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WePay is an online payment service provider based in the United States. It provides an integrated and customizable payment solution, through its APIs, to platform businesses such as crowdfunding sites, marketplaces and small business software companies. It also offers partners fraud and risk protection.
History
WePay was founded by Rich Aberman and Bill Clerico in 2008 in
Aberman and Clerico were accepted by
Services
WePay is a privately held company that offers payment capabilities to business platforms, making money through charging service fees when processing funds. WePay enables payments to platforms through its APIs.
WePay offers fraud and risk protection as a service through its proprietary risk prevention system and through several third party vendors. The company detects fraud by using a number of data sources, including social data connections as well as machine learning algorithms.[15] According to Aberman, "[WePay uses] your online identity to verify your identity in the real world."[16]
Growth
In early 2015, WePay opened its services to businesses in Canada.[17] In 2016, the payment facilitator also announced opening operations for businesses in the United Kingdom.[18]
In 2016, the
Partnerships
As of 2015, WePay was used by over 1,000 businesses and nonprofits.
Movements
The founders of WePay made an unexpected appearance at PayPal's 2010 developer conference in San Francisco, California. The stunt involved dropping a 600-pound block of ice filled with hundreds of dollar bills. The statement was that PayPal freezes your money and that better payment processors exist.[26]
In 2011, the company was used by many Occupy Wall Street supporters to donate money to the movement, which resulted in a surge of transactions.[27] Dominic Basulto of The Washington Post called WePay the "de facto official way" to give financial donations to the Occupy movement "while simultaneously bypassing the largest financial institutions".[28] By October 27, 2011, over 8,000 donors from 37 countries had donated $325,000 to the movement.[29] The donations are funneled through 300 Occupy-affiliated accounts, which are linked on Occupy Wall Street's website, Twitter, and Facebook accounts.[30]
WePay has supported fundraising efforts for hundreds of disaster relief campaigns and humanitarian causes through crowdfunding sites. Some of these campaigns relate to
External Links
- WePay Reviews on Trustpilot (as of 12th June 2024)
* Overall Rating: 1.3 * 793 bad reviews
References
- ^ a b Xavier, Jon. "Hello Redwood City!". WePay Blog. WePay. Retrieved 6 August 2015.
- ^ a b "About WePay, a Chase company | Payment Processing for Platforms".
- ^ Penn, David (21 May 2015). "WePay Closes $40 Million Series D Round Led by FTV Capital". Finovate Blog. Finovate. Retrieved 6 August 2015.
- ^ Boston Globe. Archivedfrom the original on 2012-11-02. Retrieved 2011-01-09.
- ^ CNNMoney.com. Archivedfrom the original on 2010-12-22. Retrieved 2011-01-09.
- OneIndia. 2010-10-16. Archivedfrom the original on 2024-05-25. Retrieved 2011-01-09.
- ^ "WePay: The Online Payment Start-Up Behind Occupy Wall Street". Forbes.
- ^ Barbierri, Cody (2010-08-12). ""Group" paying service WePay gets $7.5M boost". VentureBeat. Reuters. Archived from the original on 2016-03-03. Retrieved 2011-01-09.
- ^ "WePay's Group Payments Get Some Big-Name Backers, Including Max Levchin". TechCrunch. Archived from the original on 2011-11-12. Retrieved 2009-11-23.
- ^ "Best Young Tech Entrepreneurs". Bloomberg Businessweek. 2011-05-17. Archived from the original on 2011-11-24.
- ^ "Accept Payments Online - WePay".
- ^ Reader, Ruth (20 May 2015). "WePay raises $40M to take its marketplace payment platform global". VentureBeat. VentureBeat. Retrieved 6 August 2015.
- ^ "JPMorgan to buy online payment provider WePay". Reuters. 2017-10-17.
- ^ Condon, Stephanie. "JPMorgan Chase to acquire payments platform WePay | ZDNet". ZDNet. Retrieved 2017-10-18.
- ^ "Automating machine learning for platform fraud detection". 23 July 2015.
- ^ "Can Your Social Network Protect You From Credit Card Fraud? | Inc. Technology". technology.inc.com. Archived from the original on 2011-06-07.
- ^ "JetPay Helps WePay Launch in Canada | PYMNTS.com". www.pymnts.com. Archived from the original on 2017-08-31.
- ^ "WePay Crosses Atlantic with Integrated Payments for the U.K."
- ^ "28 of the 500 fastest growing private businesses in the U.S. are from Bay Area - Silicon Valley Business Journal". Archived from the original on 2016-08-19.
- ^ a b https://www.webcitation.org/63Og4ISrk?url=http://www.forbes.com/sites/elizabethwoyke/2011/09/30/for-effective-fundraising-choose-facebook-over-twitter/
- ^ "At WePay, planning a 'balls to the wall' 2012".
- ^ "WePay Closes $40 Million Series D Round Led by FTV Capital". 21 May 2015.
- ^ "WePay chosen as one of the Best Places to Work in Silicon Valley".
- ^ "WePay raises $40M to expand payments services globally". 20 May 2015.
- ^ "WePay now accepts Apple Pay and Android Pay on the web".
- ^ "WePay Drops 600 Pounds of Ice in Front of PayPal Conference, Hilarity Ensues".
- ^ Terdiman, Daniel (2011-11-14). "At WePay, planning a 'balls to the wall' 2012". CNET. Archived from the original on 2012-02-23. Retrieved 2011-11-22.
- ^ Basulto, Dominic (2011-11-02). "The real Wall Street occupation is online". The Washington Post. Archived from the original on 2011-11-18. Retrieved 2011-11-22.
- ^ "Website: More than 8,000 donors for Occupy Wall St". The Wall Street Journal. 2011-11-01. Archived from the original on 2013-02-09. Retrieved 2011-11-22.
- New York Daily News. Archived from the originalon 2013-01-30. Retrieved 2011-11-22.
- ^ Kukura, Joe (2017-10-17), "WePay Wipes Out Marijuana Wildfire Relief Fund", SF Weekly, retrieved 2017-10-18