WePay Clear Allows Platforms To Offer Payments Under Their Own Brand With Zero Risk
WePay, the leading provider of payments for platforms, today announced WePay Clear, which allows platforms to facilitate payments while WePay manages fraud, risk and compliance from behind the scenes.
“Most online platforms have an excellent user experience, but when it comes to enabling users to accept payments, they fall flat,” said Bill Clerico, CEO of WePay. “The problem is they are forced to share their users with payment providers and rely on someone else’s interface. The alternative is to build a payment offering themselves, which can be expensive, complex, and risky.”
WePay Clear provides platforms — crowdfunding sites, online marketplaces, and business software — with all of the tools they need to enable their users to accept payments, including merchant onboarding, credit card processing, and payouts. Yet, unlike most payment providers, WePay Clear is transparent to the end user. Platforms can seamlessly integrate WePay Clear with their websites or apps, and process payments under their own brand without compromising on user experience.
Leveraging WePay’s patent-pending Veda™ Risk Engine, WePay Clear shields platforms from all risk arising from chargebacks and credit fraud, which collectively cost U.S. retailers $3 billion each year.
WePay Clear is currently being piloted by FreshBooks, the leading cloud accounting solution for small businesses, for its new payments feature.
“Making payments simple and easy-to-use is an important part of our customer experience,” said Mike McDerment, cofounder and CEO, FreshBooks. “WePay Clear removes the complexity of payment processing which enables us to design a payments experience that is purpose-built for service-based small business owners.”
WePay is a payments company built to serve the needs of online marketplaces, crowdfunding sites and small business software platforms. These platforms are fueling commerce in a variety of new and interesting ways, and empowering millions of people worldwide in the process. WePay is the only company to offer its customers complete protection from fraud risk while still giving them the flexibility to craft great experiences for their users. Thanks to its proprietary Veda™ risk engine, WePay enables platforms to protect themselves from losses due to fraud while still facilitating payments seamlessly, all without worrying about regulatory compliance.