WePay<\/a>.<\/p>\nIt’s not just venture capital that’s increasing.\u00a0 WePay’s revenue, transaction stream, and employee count are all shooting up with the kind of geometric growth that gets a company’s CEO’s grinning picture on the front page of financial magazines.\u00a0 So what is it that makes this company so hot?<\/p>\n
The selling points<\/strong><\/p>\nThere are several things that WePay is doing right that could mean PayPal has a serious challenger to contend with here.\u00a0 Some of them are as follows:<\/p>\n
\n- Customer service<\/span><\/strong>: Recognizing that this is one of PayPal’s primary weak points, WePay has been putting serious effort into making sure that their customers don’t feel brushed off.\u00a0 24\/7 support by phone, chat or email is available.\u00a0 One subtle sign that they take this seriously is that tech agents and customer service agents are located next to each other.\u00a0 Many in the tech community have experienced the phenomenon wherein a customer service agent wants to communicate an idea to the tech team, and feels like it has to cross a guarded moat to do so.<\/li>\n<\/ul>\n
\n- WePay Stores<\/span><\/strong>: If there’s any idea left in E-Commerce that might make someone smack themselves in the head for not thinking of it first, this could be it.\u00a0 WePay Stores is an E-Commerce solution that handles both the setting up of the storefront and the processing of payments.\u00a0 It’s been so many years that this has been split between different companies that the whole of the internet seems to just have assumed that this must always be the case.<\/li>\n<\/ul>\n
\n- Having fun<\/span><\/strong>: Let’s recognize that this is something that many startups have in the early years, only to lose it in the grumpiness of bloated corporate middle age.\u00a0 We’re interested in the now, though, and right now… well, how can you not at least chuckle a little bit at a company that trolls it’s competitor’s conference with a 600 pound block of ice embedded with money as a symbol of the accounts PayPal has wrongly \u201cfrozen\u201d?<\/li>\n<\/ul>\n
Not there yet<\/strong><\/p>\nThese advantages notwithstanding, it’s not all smooth sailing for WePay just yet.\u00a0 While so far they are appealing to a lot of the things that PayPal has dropped the ball on, their Goliath still has upwards of 80 million customers to call on.\u00a0 The daily worry over at WePay is that PayPal will decide to alter their services one day and offer the same group payment architecture that WePay is focused on.<\/p>\n
There is also the economic consideration that WePay’s services come at a price.\u00a0 Their 3.5% transaction fee is high for the industry.\u00a0 Scanning the comments that we saw in some of the articles about this company, there are still a lot of customers who are willing to deal with PayPal’s corporate deficiencies if it means saving a few bucks.\u00a0 This is a hard line to walk, and with so much of WePay’s revenue coming from investments, one would not be irrational for being concerned that these guys are being a little too loose in rolling the dice.<\/p>\n
As good a chance as any<\/strong><\/p>\nThen again, when facing off against a behemoth like PayPal, does one have the luxury to not take any chances?\u00a0 While things are riding hard and fast over at WePay headquarters, so far there doesn’t seem any sign that it’s moving faster than they are capable of handling.\u00a0 PayPal is vulnerable, and Aberman and co-founder Bill Clerico just may have struck at the right time in the right way.\u00a0 We can’t predict the future, but we can say that so far from what we’ve seen, it’s possible that we could be in the beginning phases of the passing of a great torch in the world of online payments.<\/p>\n","protected":false},"excerpt":{"rendered":"
We’ve reminded you here in this column before of one critical and forgotten truth when it comes to online supremacy: all empires crumble.\u00a0 As much as we list the Lycos’s…<\/p>\n","protected":false},"author":3,"featured_media":3120,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"wds_primary_category":0,"footnotes":""},"categories":[12],"tags":[3385,261,83],"class_list":["post-3090","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-e-commerce","tag-payments","tag-paypal","tag-shopping-cart"],"views":95,"_links":{"self":[{"href":"https:\/\/webhostinggeeks.com\/blog\/wp-json\/wp\/v2\/posts\/3090","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/webhostinggeeks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/webhostinggeeks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/webhostinggeeks.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/webhostinggeeks.com\/blog\/wp-json\/wp\/v2\/comments?post=3090"}],"version-history":[{"count":0,"href":"https:\/\/webhostinggeeks.com\/blog\/wp-json\/wp\/v2\/posts\/3090\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/webhostinggeeks.com\/blog\/wp-json\/wp\/v2\/media\/3120"}],"wp:attachment":[{"href":"https:\/\/webhostinggeeks.com\/blog\/wp-json\/wp\/v2\/media?parent=3090"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/webhostinggeeks.com\/blog\/wp-json\/wp\/v2\/categories?post=3090"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/webhostinggeeks.com\/blog\/wp-json\/wp\/v2\/tags?post=3090"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}