WePay Evens Playing Field with PayPal: New Features Added to Payments API and Lower Prices

WePay, an online payments platform, is celebrating the one year anniversary of the WePay Payments API by offering lower pricing and new features that allow partners to have complete control of the checkout experience.

WePay is an online payments platform for individuals, organizations, and businesses that helps to sell tickets to events, send invoices, sell items and accept donations online. The WePay Payments API was introduced so that merchants and developers could integrate the WePay payments platform into their own websites, shopping carts, donation platforms and other applications. Integrating the WePay platform makes it possible to accept payments without a pre-existing merchant account.

Until now, developers needed to use an iframe or redirect to incorporate the WePay Payments API into their websites and applications. However, the API now includes tokenization, a long string of letters and numbers that is included in an API call. The access_token lets WePay know that the application is authorized to make that call.

The new tokenization feature allows WePay partners to customize the payment experience by using their own payment forms and further control the checkout experience. Payments can be processed by the WePay API within an application so that the WePay platform is virtually invisible to the application user. In the announcement, Rich Aberman, WePay COO states that:

"Our goal is to create the most seamless payments experience possible for both our customers and their end-users. Until now, we've focused primarily on our iFrame API offering, which also allows for on-site payments without a redirect, but we know that larger partners want WePay to be transparent. We designed this tokenization API to make WePay invisible to their customers, but still allow platforms to facilitate payments for their users."

To further promote the Payments API, lower pricing is being offered, merchant fees are now just 2.9% + $.30 (it was 3.5%). No set up, monthly or hidden fees. This puts the WePay pricing equal to that of PayPal's Merchant Fees.

Over 1000 applications have been created using the existing API according to the announcement including:

  • BookFresh - online scheduling software for small businesses
  • GoFundMe - donations platform for individuals
  • Fundable - crowdfunding for startups

Developers who wish to integrate the WePay Payments platform into their websites and applications can find new WePay platform tutorials on the WePay Developer site. WePay's API is now open and developers can register their applications at: https://www.wepay.com/payments-api.

Be sure to read the next Financial article: Discover Card is First Issuer to Use New Google "Save to Wallet" API for Payment Cards


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