WePay Write for Us
WePay Write for Us- WePay is a Service Provider, or PSP, that partners with Self-governing Vendors and software platforms. The amount platform has an application programming interface, or API, that allows these software companies to embed it into their websites, so shoppers remain redirected when it’s time to pay.
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WePay offers three products: Clear, Link and Core. However, you can only grow a WePay account by signing up with one of their payment platform partners: TouchBistro, FreshBooks, Eventzilla, TeamSnap, Buildertrend, Constant Contact, Ecwid, SchoolAuction, Keep, Classy, and Webconnex. If you own a small business that doesn’t use one of these companies, you’d better consider other options, like those listed in NerdWallet’s roundup of the best credit card processing companies.
How does WePay work?
For Small Businesses using WePay Platform Partners
WePay, a JPMorgan Chase company, is a sensible online payment solution for software platforms, crowdfunding sites, and online marketplaces that want an integrated, customizable payment gateway and processing service. Most small businesses will interact with WePay through their partnerships with larger companies. But these companies are usually not small businesses.
For example, a local store starts selling some of its clothes on an online marketplace using WePay. In this case, WePay would be the most convenient way to accept payments as it remains already integrated into the market. However, that doesn’t mean it’s the most profitable: the online marketplace may charge fees on top of what WePay already charges per transaction.
For Partners of the WePay Platform
Let’s say you’re a business that sells software as a service or SaaS, and you need to find a way to allow users (including small businesses) to accept payments within your platform. Without WePay, your SaaS business would have to use a third-party payment processor and integrate it with your platform. Users then need to create an account with the third-party processor and link it to their platform.
The downsides of this arrangement are that you have your user working with two different services to use your platform. Additionally, the payment processor would receive all revenue from credit card payment processing.
WePay allows SaaS companies to circumvent these issues by hosting a payment solution within the software platform; this can also remain described as a “white label”. This way, users can integrate and send and receive payments without using a third-party website. WePay charges payment processing fees from the platform, and the forum can set additional processing fees for its users. It allows SaaS companies to earn revenue by accepting card payments.
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