WePay crosses the Atlantic with Integrated Payments for the U.K.
The platform economy knows no borders. This is why we are happy to announce that WePay is crossing the Atlantic. Platforms can now serve U.K. users with the same fully integrated, white label payments experience they enjoy from WePay in the U.S. and Canada. WePay has also extended its best-in-class fraud risk, compliance protections, and support offerings to U.K. transactions.
Why the U.K.?
For North American platforms expanding to the U.K. ….
Expanding to other English speaking countries, including the U.K., is first on the list for world domination for U.S. and Canada based platforms for several reasons.
Shared language and business practices organically attract traffic from U.K. users who will benefit from an integrated payments solution. This fast growing market also claims the world’s highest per capita e-commerce spend, contributing to its status as the world’s third largest e-commerce market, after the U.S. and China. The U.K. may also be preferable to China because of a relatively more predictable regulatory environment.
WePay has made a couple key investments to make sure our new U.K. merchants will have a delightful experience. We’ve opened a U.K. office to keep abreast of the payments ecosystem in Europe. We’ve also opened a second U.S. office in Providence, Rhode Island, which will enable us to support our growing North America user base and offer the best-in-class support you’ve come to expect from WePay in the U.K. as well.
What will this include?
WePay will support any platforms looking to onboard U.K. based merchants. This will look much the same as it does in North America today. There are some notable differences in the U.K., especially on the regulatory and identity verification front. Supporting merchants in the U.K. requires some minor changes to a platform’s KYC flows. Also, taking on risk in the U.K. is a more complex task than in the U.S.. You can rest assured that WePay will be offering the same great risk solutions, including but not limited to our patented machine learning tools and Risk API at no additional cost.
Recent “Brexit” developments do not have bearing on WePay’s commitment or ability to support platform payments in the U.K.