RocketSpace Saves Thousands of Dollars Monthly by Switching from PayPal to WePay for Rent Collection

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WePay Gives the Newly-Launched Shared Office Space a Simple and Affordable Way to Collect Payments

When we found out that WePay only charged $.50 per transaction if our clients used their bank accounts, it was an absolute no brainer to ditch PayPal.

WePay, the easiest way to collect money online, is giving property managers, landlords, and office co-ops a better, more affordable way to collect rent. Instead of having to manually collect paper checks or pay hefty fees using PayPal, they can now pay a mere $.50 per transaction and potentially save thousands of dollars every month.

Duncan Logan, founder and CEO of RocketSpace, a mecca for fast-growing tech companies in the San Francisco Bay Area, can speak to the experience. More than 40 startups – many of which have been funded by incubators such as Y Combinator, 500Startups, KickLabs and AngelPad – have been drawn to the shared office space because of its affordable and all-inclusive office environment designed solely for tech companies. One of the main ways that RocketSpace has been able to keep its prices down is by switching from PayPal to WePay.

“We were using PayPal to collect rent, but they wanted us to pay nearly 3% of our revenue in fees and retain a trailing 30% of revenue balance in their account -- it was simply an unworkable situation for a rapid-growth startup like us,” said Logan. “When we found out that WePay only charged $.50 per transaction if our clients used their bank accounts, it was an absolute no brainer to ditch PayPal. Not only is our rent collection process much simpler, but we’re also saving thousands of dollars every month because of WePay.”

With dozens of clients paying on a month-to-month basis, RocketSpace needed a one-click payment system that would take the headache out of rent collection. RocketSpace now simply creates new or recurring bills with a client’s email address that are sent out individually or on a monthly basis. WePay keeps track of those who have paid, and automatically reminds those who haven't. At the same time, RocketSpace’s clients can pay their rent and set up automatic payments on WePay.

If you’re a property manager, landlord, or office co-op interested in collecting rent through WePay, you can quickly and easily set up a secure account at http://www.wepay.com or contact sales@wepay.com for an online demo.

About WePay
WePay makes it simple for anyone to collect money online by sending bills, or collecting donations, with no contract or setup required. WePay also allows people to accept registrations online for memberships, events, and conferences through its recently launched forms beta. Founded by Bill Clerico and Rich Aberman in 2008 and backed by August Capital, Highland Capital Partners and YCombinator, WePay is headquartered in Palo Alto, CA. For more information, visit http://www.wepay.com

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Rich Aberman
WePay
650.521.5273
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