August 29, 2013 08:00 ET

WePay Celebrates Its Two-Year API Anniversary With 280 Partners; 2012-2013 Growth of 284%

Online Payments Company's API Selected by Partners Like CustomMade Because Of Unparalleled Support, Risk Protection and User Experience Control

PALO ALTO, CA--(Marketwired - Aug 29, 2013) - WePay, the surprisingly simple way for small merchants to accept credit cards, today announced it boasts 280 API partners since its launch two years ago, with year over year partner growth from 2012 to 2013 of 284%. WePay is also announcing that it has been tapped by multiple new partners, including StayClassy, Soldsie, and CustomMade to provide a simple and secure way for their merchants to accept payments online. These partners chose WePay because of its extensive experience directly processing payments for over 250,000 small merchants similar to their own. 

In the last two years, WePay has heavily invested in the development of its API platform. WePay's API was designed to leverage its years of experience directly working with small merchants. This has allowed WePay to not only offer great technology but has also helped WePay figure out how to offer a great user experience to a marketplace platform's end-users, while letting these partners avoid the operational downsides of risk, compliance and support. The numbers of transacting API apps has grown significantly over the past three years, from 10 in August 2011, to 73 in August 2012, to 280 in August 2013; WePay has also seen 60% month-over-month API revenue growth.

"We've been quietly investing in our API to deliver a pretty unique proposition to partners," said Bill Clerico, CEO of WePay. "Partners know we understand their customers because of our years of experience directly servicing really small merchants. More importantly, because of that direct experience, we can act completely like an outsourced version of a partner's internal payments division -- taking on all the risk, compliance and customer service instead of just moving money around like other payments APIs."

The WePay API Experience:
Powered by its proprietary risk-engine, Veda, WePay has been able to provide its partners with unmatched customer experience. Key partner benefits of WePay's API include:

  1. Designed to Get to 1st Payment Quickly - WePay has thought about each touchpoint so that partners can both customize the experience to fit into their UI and also quickly onboard and get customers accepting payments faster
  2. Battle-Tested Risk - WePay's social risk engine, Veda, is battle tested against hundreds of thousands of very small businesses. Plus WePay is now also testing taking partner's unstructured unique data and adding it into the engine to further analyze the risks to a partner's platform
  3. Support for Partners and Their End-Users - WePay has multiple layers of support that partners can customize to their needs. WePay supports partner's developers, support teams and can even support partner's end-users

"CustomMade operates as a two-sided marketplace for custom goods, and we needed a payments platform that offers transparency for our network of Makers, as well as protection for consumers making purchases through our site," said CustomMade CEO Mike Salguero. "The launch of our new payments platform with WePay's API is helping us create a better user experience by allowing us to collect payments from customers in a way that is secure, while ensuring our Makers receive payments in a convenient and timely manner."

About WePay
WePay, the easiest way to accept payments online, is leveling the playing field for the new, bottom up economy by disrupting traditional payment models. WePay provides tools for small merchants, enabling them to accept credit cards and -- through its platform API -- empowers marketplaces and apps serving small merchants to enable transactions on their platforms.

WePay has processed transactions for more than 250,000 merchants and boasts well-known partners, including GoFundMe, CustomMade, Bookfresh, Soldsie, Crowdrise. The company's customer service team recently won the 2013 Gold Stevie award for its outstanding work with customers.

WePay is a registered trademark of WePay, Inc. Other trademarks used belong to their respective owners.