WePay is making online payment acceptance dead simple, enabling developers to install payment buttons the same way they might embed a YouTube video. With just one line of code, developers can take payments, register users for an event, allow them to donate money or add their purchases to a cart.
WePay keeps visitors on the original website using a secure iFrame. Pricing is 2.9 percent plus 30 cents for credit cards and 1 percent plus 30 cents for bank payments.
The new payment buttons build off the work WePay has done to improve its payment APIs, which celebrated their first birthday earlier this month. With the newest APIs, WePay reduced its pricing and made it simpler for partners to take payments without redirecting them outside the original site. Now, it’s making it even easier to include payments without needing any programming skills.
“We want to make accepting payments on your site as easy as embedding a YouTube video, and I believe we’ve done that. No other payment company allows you to accept payments on your own site, without requiring a redirect or any programming whatsoever,” said WePay CEO Bill Clerico.
This should be a boon for small businesses and individuals, who want to take payments but aren’t always savvy about how to do it. And it heightens the competition with PayPal, Stripe and Braintree, which are some of the more popular ways developers handle payments.
As Clerico told me recently, there’s a big opportunity in serving small merchants, especially as collaborative consumption also heats up. WePay is hoping to stand out by being very simple to work with for businesses that want to start accepting payments quickly.
WePay, a Y-Combinator graduate that has raised $19.2 million to date, still has a ways to go to compete with the likes of PayPal. But the company said it’s now processing hundreds of millions of dollars annually and is adding more than 1,000 customers a week.
WePay may not have to steal away a lot of customers from PayPal. With the growth of platforms like Etsy and Shopify, there’s an explosion of creators using the web to sell. And with more peer-to-peer services popping up, there’s more opportunities to offer simple payment services.