Best for
Online platforms and marketplaces... and the millions they serve
Specializes in
Payments processing, Online platforms & marketplaces, Ecommerce, Software as a Service (SaaS), Crowdfunding, Machine learning, Fraud prevention, Payments risk management, Increasing conversion, and Increasing retention
Pricing Summary
Setup Fee: $0
Monthly Fee: Undisclosed
Swipe Rate: 2.9% + $0.30
Keyed-in Rate: 2.9% + $0.30
Early Termination Fee : $0
Contract Terms:
WePay, a Chase company, helps online platforms increase revenue through integrated payments processing under their own name.
The company has uniquely enabled more than 1,000 platforms including Constant Contact, GoFundMe, and Meetup to incorporate payments without compromising on their user experience or taking on risk and regulatory exposure. In a mobile world, WePay’s integrations with Apple Pay and Android Pay for the Web help ensure high transaction conversions, while the company’s mobile point of sale (mPOS) solution allows platforms to seamlessly handle in-person payments in addition to online payments. WePay also offers a wide range of add-ons to support platforms’ specific needs.
Founded in 2008, WePay is a merchant account alternative that first started as a competitor to services like Stripe. The company has been assimilated into the Chase Merchant Services brand, 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.
WePay’s headquarters can be found at 350 Convention Way, Redwood City, California 94063. The company’s CEO is Bill Clerico.
Head Quarters
Redwood City, CA
Year Founded
2008
CEO
Bill Clerico
Employees
374
Merchant Provider Risk Tolerance
Good developer tools
Good marketplace tools
Chip card hardware
No setup or application fees
No pricing disclosed online
Account stability issues
WePay helps online platforms increase revenue through integrated payments processing. The company has uniquely enabled more than 1,000 platforms including Constant Contact, GoFundMe, and Meetup to incorporate payments so their users can start getting paid in minutes, all without compromising on their user experience or taking on risk and regulatory exposure. WePay supports mobile conversion with mPOS and integrations with Apple Pay and Android Pay for the Web.
Discloses All Important Terms
Yes
Public Pricing Available
Yes
WePay no longer lists per-transaction fees on its website, but its most recently displayed pricing charged 2.9% + $0.30 for credit card payments or 1% + $0.30 for direct payments from bank accounts. It is likely that it now customizes its pricing for each payment platform it works with. In addition to its flat processing rates, WePay’s website lists a $15 chargeback fee, which is standard for the industry. The company’s most contentious policies, however, are not clearly listed, and they have to do with reserves and prohibited activities.
As a fraud prevention measure, WePay has previously been known to enforce a standard withdrawal limit of $2,500 per business per seven days, with payments above that figure being placed in a rolling 30-day reserve. This means that a merchant who routinely does over $2,500 per week in business might be unable to access more than that amount in any given seven-day span, and it also means that a variable amount beyond the initial $2,500 could be withheld in a reserve for up to 30 days. This policy is no longer mentioned in WePay’s terms and conditions, but the company does reserve the right to impose transaction limits at its discretion.
Pricing Model
Flat Rate
Swiped Rate
2.9% + $0.30
Keyed-in Rate
2.9% + $0.30
Mobile Payment Rate
Virtual Terminal Rate
2.9% + $0.30
Monthly Fee
Undisclosed
Payment Gateway Fee
Undisclosed
Batch Fee
Early Termination Fee
$0
PCI Compliance Fee
$0
Equipment Lease Terms
None
Address Verification Service (AVS)
Application Fee
$0
Account Setup Fee
$0
Gateway Setup Fee
$0
Annual Fee
Monthly Minimum
Undisclosed
Statement Fee
WePay’s pricing and contract terms will vary depending on the WePay partner a merchant works with.
Contract Length
No Contract RequiredMonth-to-month1 Year3 Years
Early Termination Fee
$0
WePay, Inc. has an “A” rating with the Better Business Bureau but is not BBB-accredited. The BBB created its profile for WePay, Inc. in June 2015. It has 102 complaints in the last 36 months. 57 of these complaints were related to the product or service, 42 had to do with billing/collection issues, 1 due to Advertising/Sales and 2 had to do with Delivery Issues. WePay, Inc. resolved 41 complaints to the satisfaction of the merchant, while the remaining 61 either were resolved to the dissatisfaction of the merchant or did not receive a final response from the merchant.
BBB
A(102 complaints)
N/A
No Reviews yet
Yelp
N/A
Total Online Reviews
650+
Total Online Complaints
250+
Lawsuits
None
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