December 10, 2010

WePay – Collect Payments From Your Friends

Everyone’s been there. You do a nice thing by paying for the limousine your friends are renting or paying for the new uniforms your son’s team is buying, with the expectation of getting reimbursed by everyone in the group at a later date. Of course, the reality of trying to collect money from a dozen or more people can be daunting, and rarely do such transactions go off without a hitch. Now, an application called WePay aims to simplify the situation by offering a secure way for people to give and accept money online.

Whether you’re collecting dues from your fraternity brothers, selling tickets to a school dance, or accepting donations on behalf of a charity, WePay has got you covered. Sign up for an account and then decide how you want to collect your money. If you’re collecting money from your friends for the hotel rooms you just booked using your credit card, then you’ll want to start by requesting payments from each person. Include the reason you’re requesting money, a short message, and the email addresses and amounts for each friend who owes. Once the bill has been sent out, WePay will take control and handle the rest. Payments will be processed, records will be kept, and follow up bills will be automatically sent to your friends – all without any effort on your behalf.

When all of your friends have paid, WePay will transfer the collected money to your bank account or send you a prepaid Visa debit card that can be used in stores or ATMs around the world. Although WePay does charge users a fee for the bills they send out, these fees are generally less than what competing websites charge. When all things are considered, WePay is an application that a lot of groups could find useful when collecting money and making payments to friends.

Practical Uses:

  • Get paid back for the money you spent on drinks last weekend
  • Collect rent from all your roommates
  • Bill your sorority sisters for their annual dues
  • Charities can accept donations online

Insider Tips:

  • Payments can be made by bank transfer or credit card
  • WePay holds its users’ money in FDIC-insured bank accounts
  • Transactions may take 4 to 5 days to go through
  • People don’t have to sign up for WePay to make a donation

What we liked:

  • Users can get their money from WePay via bank transfer or debit card
  • WePay takes the awkwardness out of collecting money from friends
  • The application sends an automatic reminder to friends who haven’t paid their bill
  • People selling tickets to events can keep track of funds with WePay

What we didn’t like:

  • Users have to pay a number of fees to get their cash with a WePay Prepaid Visa Card


Company Info:

  • Launched: April 2010
  • Privately Held
  • Headquarters: Palo Alto, California
  • Founded by: Rich Aberman and Bill Clerico
  • Web site:


  • 50¢ when recipients pay through bank transfers
  • 3.5% or 50¢ when recipients pay with a credit card
  • 3.5% or 50¢ fee on all tickets and donations


  1. mere remiren

    I signed up for an account thinking they were truly Paypal’s competition, WRONG!
    I received my first payment and problems started right away. It took them nearly 2 weeks to tell me that they needed more info, then after 3 days they told me sorry can’t process your payment, still have given me a reason. They suck! Stay away.

  2. I see these posts and have to add my own.. I’ve been using WePay successfully for over a month.. everything works just like it said it would.. the FAQ and instructions I Read CAREFULLY!!! and the customer service has always answered all my questions and been quickly responsive, not only on the site itself with live chat, but on twitter as well.. The money processing time hasn’t taken any longer for me than the FAQ claims, and when you input your bank account and routing for the first time you might want to note the succession must enter it in as.. the first time I tried to do mine I got it backwards… All and all after being with paypal for many years and then having a HORRIBLE experience with them that lead to them banning me for life over a lie they where told about my account.. I LOVE WePay… too bad Ebay is owned by paypal and join let WePay in…. I can’t wait to see what WePay has coming in the future

  3. With an app like this, it is fine even if we forget to bring our cards out on a dinner gathering, the person paying first can always collect the money back from us easily later on, without much embarrassment too!

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