WePay is growing 30 per cent a month | Mobile Payments | Mobile Entertainment

WePay is growing 30 per cent a month

WePay is growing 30 per cent a month
Tim Green

by

Payments / February 14th 2012 at 10:59AM

Rapid growth for the 'people's PayPal'.

WePay was formed to give 'regular' consumers the means to collect money from groups of people.

Users can set up in minutes and gather payments from multiple sources with an easy user interface.

There are four basic tools: the first allows users to set up an online store, the second sells tickets and creates an event website, the third revolves around donations and the fourth is an invoicing program for individual traders who would like to bill their clients online.

According to TechCrunch, the company grew nearly ten times in revenue in 2011, with revenue generated by its API up 15 times.

The company makes its money through a 3.5 per cent credit card fee. It doesn't have a mobile app, so for moment mobile transactions are carried out from merchant mobile sites.