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30 Best Small Companies to Watch 2017

“We understand our customers and embrace their needs. We identify ways to help customers. We measure our success by our customers’ success”: WePay

thesiliconreview-wepay-2017The internet is becoming the biggest market in the world; online transactions are becoming more and more crucial. Today, it is important that when we pay on the internet that we are able to obtain a secure pathway for the money to reach the client.

Keeping the pain points in mind, WePay was started out when the internet was just about to become one of the most dependable places for online money transactions and it is one of the most trusted names in the industry of online payment.

Founded by Rich Aberman and Bill Clerico in 2008, WePay is a platform payments company that provides payment, risk and support products and services to software and platform companies. It makes payments for software and platforms, that’s all it does and does it better than anyone else.

Owned by the banking giant, JPMorgan Chase, WePay helps online platforms increase revenue through integrated payments processing under their own name. The company has uniquely enabled more than 1,000 platforms including Constant Contact, GoFundMe, and Meetup to incorporate payments without compromising on their user experience or taking on risk and regulatory exposure.

In a mobile world, WePay’s integrations with Apple Pay and Android Pay for the Web help ensure high transaction conversions, while the company’s mobile point of sale (mPOS) solution allows platforms to seamlessly handle in-person payments in addition to online payments. WePay also offers a wide range of add-ons to support platforms’ specific needs.

Today, WePay has earned Inc. 500 recognition as one of the fastest growing private US companies. It has also earned recognition on multiple Best Places to Work lists.

WePay Payments Ecosystem

WePay’s payment products are designed for the unique needs of platforms by helping its platform customers like Ecwid or Webconnex increase revenue without friction or fraud.

Merchant onboarding

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. The merchants need support for things like checkout forms, instant signup, and KYC compliance.

Payment processing

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 the 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 the exposure to risk issues and compliance issues are critical to integrating payments successfully. One example is fraud exposure and how much the payment provider can protect one from it. The 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.


The world has changed. The payment solution has to support mobile options both on the payer and payee side from mobile point-of-sale (mPOS) to Apple and Android Pay.


There’s a good chance that the business is already working internationally and that one has international customers. It needs payments that work globally and even with support for merchants based outside the US.

Payments for Platforms

WePay’s focus on platform customers means that over 1,000 partners, like Constant Contact, GoFundMe, and Meetup can incorporate payments without fraud risk, regulatory exposure or additional barriers to customers and users.


Integrated payments mean increased revenue for platform businesses. The better one integrates the better the result. If one does payments right then it helps in driving additional revenue beyond the basic incremental payments revenue because it also grows the merchant base, user base and transaction volume beyond what they would have been.

Integrated Payments

WePay uniquely provides payments solutions designed for platforms that help embed more revenue and reduce friction and fraud.

Fraud and Risk

When WePay says without fraud it means its guarantee to indemnify customers against fraud. The company couldn’t make that guarantee if it didn’t have leading machine learning technology backed by human experts that not only detects and blocks fraud but also allows transactions to proceed that appear fraudulent but are not, thus minimizing lost revenue from rejected transactions.


“The partnership element with WePay has been fantastic because we’ve had all the various cross-functional teams working together to launch the product and this includes our business teams, our product teams as well as our customer service teams. And we’ve been able to achieve our goal of one-click payment enablement and also deliver the experience that we wanted.”

-Ecwid, e-commerce platform for small businesses

“WePay has been fantastic for us. What WePay offers us is the ability for our customers to sign up for our software and then begin to take payments that same day. WePay is a fantastic product and it can do so many things.”

-Eric Knopf, Co-Founder, Webconnex

Meet the Key Executives

Bill Clerico, Co-founder, and CEO: Bill has grown WePay from a Y Combinator startup to acquisition by Chase. He is also an angel investor and part-time partner at Y Combinator and loves helping other entrepreneurs. He studied Computer Science at Boston College.

Rich Aberman, Co-founder & Chief Strategy Officer: Rich leads WePay product strategy and speaks frequently at fintech conferences and to the media on payments and innovation. He studied Philosophy, Economics and Political Science at Boston College.

“We are honest and transparent. We do what we say we’ll do. We communicate with respect. We act with integrity. We give and receive constructive feedback regularly.”