Payment Company Profile: WePay
WePay is a US-based online payment service provider that enables e-commerce platforms, marketplaces, and crowdfunding platforms to accept payments for products and services offered through their websites or mobile apps.
Founded in the US in 2008, it was expanded to Canada in 2015 and to the UK in 2016. It is now part of JP Morgan Chase following its acquisition by the latter in October 2017. WePay serves millions of businesses globally, including online merchants, marketplaces, and platforms. Prominent brands that support WePay include BigCommerce, Constant Contact, and GoFundMe.
The solution enables clients to accept a wide range of web-based payments through bank accounts, payment cards from major scheme providers including Visa, Mastercard, American Express, and Discover, as well as Apple Pay. In addition to payment processing, WePay aids online marketplaces in the onboarding of individual merchants, and managing payouts between several sellers.
In addition to online payments, the solution enables merchants to accept in-store payments via mobile point of sale (mPOS) terminals. The solution offers in-store payments in collaboration with POS provider ROAM, which is part of Ingenico Group. The mPOS solution enables merchants to accept chip-based, magnetic strip, and manually keyed payments.
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