(bill from wepay here)
competition in payments is a good thing for the market & I believe that Stripe has had these APIs for some time.
I believe that our model (which removes marketplaces from the flow of funds & shields them from risk) is a better fit for some folks, but not all - there are tradeoffs. I have a ton of respect for the guys at stripe and would consider us good friends. (We were actually both in YC S09 when Stripe was called /dev/payments)
[Edit/addition: Marketplaces are an especially valuable segment for payment companies because they touch a lot of payment volume relative to their company size. i.e. a software company selling $100m of revenue is usually a relatively large & established company, but a marketplace processing $100m of GMV can be quite small.]
Hi there, I hadn't seen wepay before and it looks really interesting. Do you have a page that sets out exactly what risks there are when building a marketplace with your system? I see that you guys say you protect from fraud with an anti-fraud system but presumably fraud will happen sometimes and I'm wondering who gets the bill when it does.
Sure, there are a lot of unique risks involved with building a marketplace. My cofounder Rich wrote a pretty extensive overview here: https://www.wepay.com/api/payments-101
Two quick questions:
* does payouts also work for european bank accounts? The linked blog post specifically mentions 'anyone with a us bank account'
* If I only want to do payout via stripe, how would I get money in? Just bill myself?
