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Payments startup WePay raises $15M, kills direct-to-consumer offering

79 pointsby billclericoover 11 years ago

17 comments

gkopover 11 years ago
The headline is linkbait. They didn't "pocket" anything, just raised $15M.
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mikespearover 11 years ago
This actually a very exciting development. As a B2B provider of fundraising software for nonprofits, StayClassy (www.stayclassy.org), we do everything we can to put our customers&#x27; brands first. This reduces donor confusion, and ends up helping everyone involved be more successful.<p>Having WePay sunset their consumer-facing products has a similar effect in that it allows us to transact more money through WePay while reducing potential confusion around which services are responsible for which part of the fundraising process.<p>The WePay team has always been extremely responsive to questions and feature requests, so I&#x27;m excited to see what they do with the added resources and renewed focus on partner services.
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kaa2102over 11 years ago
I looked around for a simple pay solution to integrate into my site and chose wepay about a year ago. It was one of the few services where I didn&#x27;t have to become a &quot;pay API code ninja&quot; to use. I got an email that they will also phase out the easy-to-use buttons.<p>I want to focus on delivering value to my customers - I&#x27;m not trying to become a pay button implementation expert. I&#x27;m not very happy about wepay making this move. I think I am going to be switching to stripe.
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ams6110over 11 years ago
I use WePay&#x27;s invoices for a non-profit that I help run. While they weren&#x27;t perfect (what is?) they did the job and let me focus on other things. I&#x27;m now on the lookout for a simple invoicing platform that supports single and multi-payment invoices and some basic branding capabilities. I might even look at building something on their API or Stripe (would lean towards Stripe as I&#x27;ve used them before but IIRC their fees are a touch higher).<p>Sad to see these services go, but I can imagine that the support burden of a consumer-facing service is something they&#x27;ll be glad to be rid of if nothing else.
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rhizomeover 11 years ago
Killing the P2P pay features? Let&#x27;s do a little detective work...&quot;Other investors include Max Levchin, former chief technology officer of PayPal.&quot;
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jordanmessinaover 11 years ago
Is there anything that WePay is offering that Balanced doesn&#x27;t?
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QuantumGoodover 11 years ago
Used WePay for years. They never fixed several problems with their interface, so now I have followed their link to EventSpot (Constant Contact), but Constant Contact does&#x27;t even support WePay as a provider. Always feels bleeding edge using WePay.
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usesover 11 years ago
That&#x27;s a bummer. I thought WePay was trying to be something like a more modern version of PayPal&#x27;s &quot;add to cart&quot; and &quot;donate&quot; buttons, with additional API features for more advanced setups.<p>So what&#x27;s a good way to get an &quot;add to cart&quot; button that you can paste into some html and have customers check out without registering for accounts or seeing too much confusing 3rd party branding?
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nhangenover 11 years ago
I already replied to the team with similar sentiments, but I think this is a great move.<p>Many of their D2C products competed with the businesses that were using their APIs, so it makes sense to pick a channel and focus on just one side of the equation.<p>I really like everything about WePay other than the fact that it&#x27;s limited to the US.
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thatthatisover 11 years ago
TIL: wepay had a direct to consumer offering.
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stonericover 11 years ago
WePay simply has the best business &#x2F; API combination out there right now. No monthly fee, sure that is important, but getting your money deposited to your account ASAP is the main value and no amount of tech, no matter how simple does what WePay can accomplish.<p>Writing some OAuth code is pretty much standard fare amongst the API providers....getting your cash? Now that&#x27;s a different story.<p>There&#x27;s no other API out there that is as transparent or seamless to a business, without the new business disruption of having to wait 1 week (or more) for the cash.
TTProgramsover 11 years ago
At least among my friends Venmo totally dominates the so-called &quot;direct-to-consumer&quot; payment market. Maybe they just didn&#x27;t anticipate hitting critical mass in competition.
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hit8runover 11 years ago
Is there something like &quot;app-fees&quot; (<a href="https://www.wepay.com/developer/platform/app-fees" rel="nofollow">https:&#x2F;&#x2F;www.wepay.com&#x2F;developer&#x2F;platform&#x2F;app-fees</a>) for paypal? Normally I would simply use wepay but it is not available for Germany, right?
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llamatabootover 11 years ago
Sad about this. Quite a lot of non-profits and activist organizations use WePay for their campaigns and organizing. It was one of the backbones of local Occupy fundraising in many cities.
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vvvVVVvvvover 11 years ago
&gt;But its primary use will be international expansion<p>EMEA? APAC? I guess both, and it&#x27;d be nice in Europe.
coreymgilmoreover 11 years ago
wouldn&#x27;t be surprised to see someone buy these guys up pretty soon.
harrisreynoldsover 11 years ago
Does WePay support ACH debits (payments from a bank account)?
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