Product Update: Improving WePay’s Withdrawal Process

Making sure people get paid quickly and efficiently has always been WePay’s first priority. Today we’re announcing a few product changes that should improve that process even further.

Both of the changes outlined below require you to use the latest version of the API. You can implement them whenever you like, and not all changes have to be implemented simultaneously. For more information about WePay’s versioning process, please explore our documentation.

WePay and Heartbleed (CVE-2014-0160)

We’ve received questions across many channels concerning the internet-wide security vulnerability known as Heartbleed. Below is a a high-level FAQ to which we will post updates as we have them over the following days.

 

Customer Profile: InvoiceASAP

As the original mobile-first invoicing platform, InvoiceASAP has always emphasized a seamless user experience. They want their customer to get paid, quickly.

Service providers on the move (plumbers, contractors, caterers, etc.) can really benefit from having an invoicing tool in their pocket. InvoiceASAP’s mobile focus has really resonated with customers – over 194,000 have already registered, with 300 more added every day.

What’s more, InvoiceASAP has attracted customers of all sizes. Their user base is incredibly diverse. They wanted a payment solution that would deliver the right user experience – fast on-boarding, competitive rates, and customizable interfaces – regardless of the size of the customer.

Making Sense of the Payments Landscape at Commercism 2014

Bill (WePay’s CEO) spoke today at Commercism, a conference focused on the cutting edge of E-commerce. Bill shared his take on the hidden infrastructure that supports online payments and how this infrastructure affects decisions that platforms and marketplaces have to make when choosing a payments provider.

The payments landscape can be difficult to make sense of, so Bill also shared a list of payment terms (a glossary) that people might find helpful. We’ve attached that here!

What Is An Aggregator?

At WePay, we often talk about ‘aggregation.’ Most often, we’re selling WePay against the idea of aggregation - against a potential partner setting up their own internal payments operation and aggregating funds into a single account. That’s not necessarily an easy concept to understand, though. Here, WePay’s General Counsel, Susan Dunn, takes a closer look at what exactly defines an aggregator.

Payments is a highly regulated industry. Not every flow of funds that is possible as a technical matter complies with applicable laws and regulations.

Take the ability to accept credit cards as an example. These days almost anyone can get a merchant account and accept credit cards as payment. If you read the fine print, however, you’ll discover that the card networks (Visa, MasterCard, and Discover) impose significant restrictions on how a merchant account can be used. Violate those restrictions, and you can incur thousands of dollars of fines and have your merchant account revoked.

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