WePay
WePay, headquartered in Redwood City, CA, is a fintech company specializing in payments, providing comprehensive payment solutions through products like Clear, Link, and Core. Acquired by JPMorgan Chase in 2018, it supports a wide range of services including instant merchant onboarding, same-day deposits, and integrated payment solutions.
Company Overview
WePay is a fintech company headquartered in Redwood City, CA, USA, operating primarily in the payments sub-industry. Acquired by JPMorgan Chase in 2018, WePay provides a multi-party payments API tailored for SMB SaaS, POS platforms, and online marketplaces. Currently, the company employs 400 people and serves regions in the United States and Canada.
Services
WePay offers a range of services designed to streamline payment processing for businesses. Key features include card present solutions, faster payouts, and a Partner Center for comprehensive reporting and analytics. Merchants benefit from instant onboarding, same-day deposits, transparent pricing, and flexible card acceptance. Additionally, WePay supports integration with just two API calls, providing a seamless experience.
Products
WePay's product suite includes Clear, Link, and Core, each developed to meet specific market needs. Clear serves as a white-label solution for integrated payments. Link allows businesses to refer merchants to Chase and monetize payments, with features like instant onboarding and same-day deposits. Core is designed for large payment facilitators, offering granular control, economies of scale, and comprehensive payment processing capabilities.
Instant Onboarding
WePay facilitates instant merchant onboarding through automated KYC process management. This ensures quick and efficient access for merchants to start processing payments immediately. The company also provides same-day deposits for those with a Chase bank account, enhancing the financial liquidity of its clients.
Market Impact
WePay processes 31.8 billion transactions annually, handling 50% of U.S. online transactions and moving over $100 million in value per second. The company's robust infrastructure and position under JPMorgan Chase's umbrella enable it to offer aggressive, relationship-based pricing, making it a formidable player in the fintech payments sector.