Wepay inc -
Payments you can bank on
How much work is required to implement?
(As few as2 API calls)
How does the Merchant set up and manage their merchant account?
Who provides support to merchants?
Who is responsible for funding merchants?
(As Payment Facilitator)
Risk & Compliance
Who is responsible for managing risk and compliance?
(As Payment Facilitator)
Who controls merchant pricing?
(Platform earns referral fees)
(As Payment Facilitator)
Donor Tools terms, policies,
and legal bits
When you use our services you entrust us with YOUR valuable information. We have made it a priority to protect your data and to provide you with choices about controlling it.
Donor Tools primary data and servers are hosted at Rails Machine's data center (Atlanta, GA).
The data center is Type 2 SSAE 16 SOC 1 accredited and includes keycard protocols, biometric scanning protocols, armed guards, and round-the-clock surveillance. Our environment is colocated, meaning we have full control of the physical environment and only our policies affect the access and use of the hardware, network and software. We provide multiple levels of backups and redundancy to ensure uptime and peace of mind. Donor Tools itself has not undergone a SOC audit, but our data center has. A copy of the most recent SOC report may be provided on request after completing an NDA.
We use technical and physical controls designed to prevent unauthorized access to personal data. We restrict access to personal data only to our employees, contractors and agents who require access to operate, develop or improve our service. These individuals are bound by confidentiality obligations and may be subject to discipline, including termination and criminal prosecution if they fail to meet these obligations.
Donor Tools offers payments through WePay, Inc. ("WePay"), a third-party payment processor. In order for you to use WePay's payment processing services, you must register with WePay as a merchant.
The WePay Terms of Service explain that process and are available here.
Canadian organizations: By creating a merchant account with WePay, you are agreeing to accept debit card payments. Please review the FCAC Code of Conduct Requirements.
JPMorgan buying WePay, shifting fintech investment into high gear
JPMorgan Chase has made several investments in financial technology startups, but its plan to buy WePay will give its 4 million small-business clients a much more direct way to adopt digital payments.
The bank announced plans to acquire the payment company on Tuesday in a deal that could be larger than $220 million, according to The Wall Street Journal, which attributed the amount to unnamed sources.The parties would not confirm the amount of the deal.
"With WePay, Chase is taking the work out of payments for both our business clients and the software providers who serve them," said Matt Kane, CEO of Chase Merchant Services, in a release. "We are powering payments for growth, so businesses can accept payments instantly, get paid faster, and never lose a sale. And we’ll give ISVs a payment facilitator-like experience without the overhead or increased fraud risk."
WePay serves primarily smaller businesses and communities that sell products online on behalf of micromerchants. It has bulked up considerably in the past year, adding support for Apple Pay and Android Pay for mobile checkout and introducing offline services to ward off competition from mobile point of sale providers such as Square.
"We think this is a game-changer — we’re combining the global brand, scale, capabilities and distribution of one of the world’s largest and most respected financial institutions with our world-class talent and technology to build the future of FinTech," said Bill Clerico, founder and CEO of WePay, in an email.
For JPMorgan Chase, it's a substantial commitment to its fintech investment strategy. There have been 166 fintech payment deals totaling at least $29.3 billion in 2017, the Journal reported, citing numbers from Financial Technology Partners. This makes payments the largest segment for fintech investment.
JPMorgan has not been a major part of that deal making. The bank has made some investments, including a relatively small $10 million stake in LevelUp, participated in a $100 million investment in Bill.com, and invested in MCX's mobile payments technology to bolster Chase Pay. WePay would be its first major fintech acquisition.
WePay Boosts Payment Platform
with MySQL Enterprise Edition
WePay upgrades to MySQL Enterprise Edition 8.0 for maximum uptime, greater database observability, and enhanced compliance with financial regulations.
Business Challenges & Goals
WePay is the integrated payments business of JPMorgan Chase. WePay provide payments infrastructure for independent software vendors (ISVs) and software platforms to ensure small businesses get paid quickly and easily. Our application programming interfaces (APIs) make flexible, integrated payments possible through referral, white-label, or payment facilitator models.
Given this, WePay's development processes are subject to strict security and compliance controls. Security, reliability, and compliance are key requirements of a relational database management system for online payments.
Since 2008, WePay has been running MySQL as its core database to support an agile development environment. For the past decade, the database grew into a single monolithic database of 250 TB. As a payments company, uptime is mission critical, so in 2018 WePay began creating microservices running on MySQL database clusters.
Upon moving to MySQL Enterprise Edition 5.7, WePay improved database availability, observability, separation of responsibilities, and audit compliance. This led to an upgrade in 2020 to MySQL Enterprise Edition 8.0.
Business Results & Metrics
With MySQL Enterprise Edition 5.7, WePay achieved improved observability of production database performance by using global transaction identifiers (GTIDs) and MySQL Orchestrator to detect failure and perform role transition. These tools significantly boosted database availability and scalability by handling unplanned events in cluster replication.
WePay implemented MySQL Enterprise Monitor to gain even deeper observability of changes in the production database that helped them better track who made them and why. Site reliability engineers—who do not have direct access to the production database due to compliance with Payment Card Industry Data Security Standard (PCI-DSS) controls—can now see what goes on inside the database.
As an organization bound to the Agile software development methodology, this observability allows the engineering teams to quickly evolve the payment platform, adhering to PCI-DSS rules and audits and other banking controls.
"Being able to see how the database is performing with production data and load is fantastic," said Rich Steenburg, Senior Director of Engineering at WePay. "If we didn't have MySQL Enterprise Edition, I don't think we would be able to satisfy these requirements and to change as fast."
Database application performance was also further enhanced by MySQL Query Analyzer, which WePay uses for pinpointing and solving queries causing slowdowns. This ensures maximum availability of the platform.
Because the payments platform also shares instances across hundreds of databases and microservices, the company relies on MySQL's resource management to enable or restrict resource consumption. Beyond optimizing CPU utilization, this feature provides control over which users can perform resource group operations.
MySQL Enterprise Audit is equally critical within WePay for compliance with the strict separation of duties and responsibilities required in a payments industry, where billions of transactions between merchants, payment processors, and banks take place daily and fraud is an existential threat.
MySQL Enterprise Audit's automated policy-based auditing, coupled with MySQL Enterprise Edition 8.0's identity management and encryption tools, provide WePay with powerful security controls to satisfy regulatory compliance.
In addition, WePay uses MySQL Roles for granting specific permissions to team members by role, as a convenient alternative to granting individual privileges.
WePay is confident in providing its partners with a highly available, reliable, and secure online payments infrastructure. WePay is working with the Oracle MySQL Premier Support team to upgrade to MySQL Enterprise Edition 8.0.
"Having a direct line to the engineering team, ultimately responsible for the system that you're using, is critical to our success," Steenburg said.
WePay chose MySQL as its core database from inception in 2008, successively moving through various MySQL versions until moving to MySQL Enterprise Edition 5.7. The pivot to version 5.7 hinged on the ability to better observe the impact of changes in the production database and to comply more stringently with banking regulations. Eager for ever more robust monitoring, auditing, and security tools, WePay began migration to MySQL Enterprise Edition 8.0 in 2020.
ZOHO AND WEPAY. GET YOUR PAYMENTS, YOUR WAY.
Say goodbye to all your payment gateway troubles! With the WePay integration for the Zoho finance product suite, getting paid online is now easier and faster than ever.
- ZOHO BOOKS
- ZOHO INVOICE
- ZOHO SUBSCRIPTIONS
- ZOHO INVENTORY
Create professional invoices, send automatic payment reminders, and accept online payments with Zoho Invoice.
Create beautiful invoices using templates
Manage Projects and track time
Receive online payments
Manage your finances and stay on top of your cash flow.
Manage receivables and payables
Import bank feeds automatically
Comply with sales tax, VAT, and GST
Simplify your order management processes, from making purchases to keeping track of stock and fulfilling orders.
Add more selling channels to increase sales
Manage multiple warehouses
Fulfill orders faster
Effortlessly manage your subscription based business, from accepting recurring payments to handling customer subscriptions.
Automate recurring billing and invoicing
Take control of failed payments
See real-time subscription metrics
Get paid, the easy way.
Hassle-free integration, all under one roof. Set up your merchant account in minutes from inside any Zoho finance product.
Market leading pricing
The lowest merchant transaction fees among all payment gateways. You pay only 2.9% + 30¢ per transaction with no additional setup or hidden costs.
One-stop Zoho support
No more back-and-forth communications with multiple companies. We're your main point of contact, 24/5, for all your questions and concerns.
Automate your accounting
Seamlessly track your customer payments, transaction fees and refunds with the WePay clearing account found in Zoho Books.
One price for all
WePay supports Visa, MasterCard and Amex credit cards, with the same merchant transaction fee for each.
Safe and Secure
We at Zoho, take security very seriously and ensure all your customer payments are safely handled and protected.
Sign up for WePay
Kickstart the process right away from your Zoho service by clicking on 'Create your WePay account' and selecting your email address.
Fill the KYC
Once that's done, add your personal information and business details to the Know Your Customer form.
Connect your bank account
Connect your bank account to start receiving payments and watch the cash flow in.
(PRESIDENT, 24Tons inc.)
Integrate WePay with Zoho now and watch the magic unfold!
Your questions answered
XDoes the integration work in my country?
As of now, the WePay integration is only supported for businesses registered in the United States, with USD as the base currency.
XWhich credit cards are supported?
WePay supports Visa, MasterCard and Amex credit cards, with the same merchant transaction fee for each.
XWhat about payment processing and clearing of funds?
The amount paid by your customers will be added to the merchant account and be processed for settlement daily. Once these payments are approved and processed, they will be deposited to your bank account.
XWhat kind of details do I need to provide in the KYC?
You are required to input some basic personal information including your DOB, SSN, and so on, along with certain essential business credentials so that we know more about you and your business.
WePay is incredibly secure and adheres to all the major payment standards, including the highest level of PCI security, standard tokenization for cards, and multi-factor authentication. Learn more
XDo I need to pay separately for this integration?
There are absolutely no setup costs, or additional or hidden charges involved in establishing this integration.
XI already have a WePay account. Can I still set up an integration with the Zoho service?
Yes, you can still set up the integration with your Zoho finance products. Simply add the email address associated with your WePay account inside your Zoho products, and be sure to select it from the listed emails during the WePay integration process. Learn more
XHow do I change preferences for the frequency of fund settlements?
You can set the deposit frequency to daily, weekly, or monthly. Check out our help guides here to find out how.
XWhere do the payments go if I haven't associated a bank account with WePay?
If you've started accepting payments without associating your bank account, the amount received will be stored in WePay reserves for 30 days, beginning on your first payment acceptance, before being refunded to your customer.
XDoes the integration support ACH payments?
At this time, the integration does not support ACH payments.
Try the Zoho Finance suite today!
Terms and Conditions ("Terms")
Last updated: December 1, 2020
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Third-party payment processor
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By Ainsley Harris1 minute Read
A merchant’s primary financial relationship used to be with its bank. But payments companies have now snagged that prized position, thanks to their central role in online transactions and modern point-of-sale solutions. Increasingly, merchants view their payments relationship–more than their bank relationship–as the gateway to financial services including loans, payroll management, and customer rewards.
Enter Wall Street giant JPMorgan Chase, which yesterday announced its acquisition of WePay, a payments startup founded in 2008 and valued at around $220 million in 2015. WePay serves online businesses like marketplaces and crowdfunding sites. Its API solution can handle payment processing, fraud detection, and complex payouts. The two parties did not disclose the terms of the acquisition, but the Wall Street Journal reports that the purchase price topped WePay’s prior valuation, making the deal Chase’s first major fintech buy.
“We’re going to keep that innovative spirit and their entrepreneurial approach, but backed and funded by Chase, and with the added benefit of all our distribution capacity,” says Matt Kane, CEO of Chase Merchant Services, adding that the bank serves over 4 million small business clients.
In addition, WePay will benefit from the Chase balance sheet. Competitors like PayPal and Stripe, for example, have recently introduced instant payments. Square, in turn, has started lending money to merchants through its Square Capital division. Access to a massive balance sheet will position WePay to rapidly scale related products.
“We’ve done a really good job in certain parts of the market, but a huge part is unaddressed,” says WePay cofounder and CEO Bill Clerico. “It’s a race to capture that opportunity, and having more resources will help us go faster.”
Already, he is planning to double his team of 200 over the next year, and at the same time move into a larger office in Redwood City, California. WePay will continue to operate as its own brand.