We took our years of experience underwriting small merchants and are delivering that experience to our crowdfunding partners through our API.
Palo Alto, CA (PRWEB) October 21, 2013
WePay, the simplest way for platforms to accept payments, today announced it is processing up to $1.5 MM per day in crowdfunding, powering 6 of the top 15 crowdfunding marketplaces. In addition, the company now boasts more than 30 crowdfunding partners using its API including GoFundMe, Fundly, Fundable, YouCaring and Honeyfund. WePay is experiencing a huge spike in crowdfunding processing numbers:
- WePay has averaged 35% monthly growth in crowdfunding-specific processing since launching since it launched its first crowdfunding API partner in October 2011.
- On average, WePay has processed 648% more crowdfunding volume in each calendar month of 2013 than the same calendar month in 2012.
WePay has heavily invested in the development of its API platform, leveraging its years of experience directly working with small merchants. WePay's API offers a great user experience to a marketplace’s end-users, while letting those partners avoid the operational downsides of fraud, compliance and support.
"We took our years of experience underwriting small merchants and are delivering that experience to our crowdfunding partners through our API," said Bill Clerico, CEO of WePay. “I think that’s where crowdfunding is growing the fastest – in giving literally anyone the power to accept payments online.”
In particular, WePay’s API is designed to allow for high merchant and payer conversion while also taking on the burdens of fraud and operations for these platforms. Example benefits for these marketplace platforms include:
- Improved conversion - partners can seamlessly integrate payments into the product experience without sacrificing their brand or user experience
- Customized support – WePay can support ticket-sharing with partners and provides support channels for developers, merchants and buyers
- Fraud & risk management – using our proprietary VedaTM social risk engine, WePay can also manage all the chargeback risk and fraud for partners
WePay, the simplest way for platforms to accept payments, is leveling the playing field for the new, bottom up economy by disrupting traditional payment models. Through its platform API, WePay empowers marketplaces and apps serving small merchants to enable payment transactions for their users.
WePay has processed transactions for more than 150,000 merchants and boasts well-known partners, including GoFundMe, CustomMade, Bookfresh and Soldsie. The company’s customer service team recently won the 2013 Gold Stevie award for its outstanding work with customers.