WePay’s payment products are designed for the unique needs of platforms by helping our platform customers like Ecwid or Webconnex increase revenue without friction or fraud.
Getting customers set up quickly and easily is a critical requirement for anyone providing platform payments. One of the commonest issues for platforms is merchant abandonment at the point of sign up due to unnecessary friction. Your merchants need support for things like checkout forms, instant signup and KYC compliance. Click here for more.
The core functionality for integrated payments is payment processing and it needs to be simple to implement and yet still powerful and flexible. WePay provides a great Payments API that is flexible enough to be a good choice for small startups through giant organizations like GoFundMe including all the bells and whistles of a modern gateway such as account updater and emerging options like Android Pay and Apple Pay.
The single most critical function in payments to your customers is getting their money: payout. That means it has to be clean, straightforward, easy and fast, even in complex cases like handling multiple payers and payees or third party beneficiaries plus regulatory requirements and tax documents.
Understanding your exposure to risk issues and compliance issues is critical to integrating payments successfully. One example is fraud exposure and how much your payment provider can protect you from it. Your payments solution needs to be sophisticated enough to handle the ever-changing challenges in this area with tools like machine learning, advanced fraud detection rules and a specific risk API.
Many payment providers limit their support to their direct customers and fail to help those customers with their own merchants, who typically need support the most.
Other considerations include integration with customer support systems and the ability to tier support to requirements.
There’s a good chance your business is already working internationally and that you have international customers. You need payments that work globally and even with support for merchants based outside the US.