WePay Clear Brings White-Label Payments Processing For All

Thanks to WePay, payment platforms will now be able to easily and safely perform monetary transactions with their customers. WePay Clear will provide platforms (i.e. crowdfunding sites, marketplaces, and small business software) with everything they need to facilitate payments.

Included with WePay Clear is merchant onboarding, credit card processing, and payment processing. Additionally, they provide a new level of security to both the platform and the consumer. They manage fraud, risk, and compliance through their patent-pending Veda Risk Engine. Credit card fraud cost U.S. retailers $3 billion each year, and the new service should be very appealing to platforms.

“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 allows for platforms to customize their payment methods, and therefore can be tailored to each site. Combining that with their transparent payments and fraud protection, it appears that WePay Clear is offering their customers a unique opportunity.

Currently, WePay Clear is being piloted by FreshBooks, the leading cloud accounting solution for small businesses.

“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 Clear can easily be incorporated onto the platforms’ websites and mobile applications. Clerico said that other payment engines offer a “disjoined” and confusing user-experience, and WePay Clear aims to provide a white-label solution that’s easy to integrate and easy to use.