WePay Now Processing up to $1.5 Million Daily in Crowdfunding

Palo Alto, Calif. -- 10/21/13
Back To Press & Events

30 Top Crowdfunding Marketplace Platforms Are Using WePay's API; Huge Spike in Processing Numbers

WePay, the simplest way for platforms to accept payments, today announced it is processing up to $1.5 million per day in crowdfunding, powering six 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 its proprietary Veda social risk engine, WePay can also manage all the chargeback risk and fraud for partners
Share On Twitter Linkedin