WePay [SEP] inception
WePay
WePay is an online payment service provider based in the United States that provides an integrated and customizable payment solution through its APIs to platform businesses such as crowdfunding sites, marketplaces and small business software companies. It offers partners fraud and risk protection.
History.
WePay was founded by Rich Aberman and Bill Clerico in 2008 in Boston, Massachusetts, and is now headquartered in Redwood City, California. The original inspiration for WePay occurred to Aberman when he had difficulty raising money for his brother's bachelor party. Aberman
it would acquire WePay for a reported valuation of over $220 million.
Services.
WePay is a privately held company that offers payment capabilities to business platforms and makes money by charging service fees when processing funds. WePay enables secure, customized, and frictionless payments to platforms through its APIs.
WePay offers fraud and risk protection as a service through its proprietary risk prevention system and through several third party vendors. The company detects fraud by using a number of data sources, including social data connections as well as machine