It’s true, PayPal has millions upon millions of users, and there’s a reason for that. How much of that reason is the quality of PayPal and how much of that reason is the lack of viable alternatives remains up for debate.
For many, the lack of choice has been frustrating – PayPal horror stories abound about unexplained account freezes and an inability to access funds, though that probably represents a small minority of overall users. Still, for those who have had unpleasant experiences with PayPal, it would be nice if there was an alternative. After all, a little competition is always good for the end user, right?
As it turns out, there are alternatives – WePay is one example. WePay isn’t new – it’s been around since 2008 – but it hasn’t started gaining traction as a PayPal competitor until recently. As it stands now, there is still no real competition for PayPal – no online payment service has been able to get its hooks into the Internet quite as much as PayPal has – but WePay has potential. WePay now has an API available for developers, which would allow for more companies small and large to accept online payments from WePay, in addition to PayPal.
Still, WePay isn’t accepted right now by most major retailers, in the same way PayPal is. For buyers, PayPal is still undoubtedly the best option. But, PayPal has never been as useful to buyers as it has been to sellers. For sellers, online payments through such online payment services are much easier, safer, and reliable than going directly through a bank account. For sellers, WePay is every bit as effective as PayPal.
It’s even a little better than PayPal – the website is more trimmed down, and loads much faster. The bread and butter of WePay is the invoice system, which doesn’t stray too far from what PayPal does. Both are simple enough – enter an amount and a description, and send it to the email address of a person you want money from. WePay is also capable of sending recurring invoices, on a weekly, monthly, or yearly basis.
That’s optimal if you only accept money from a few different sources – to send an invoice, you need to create a sub-account. The sub-accounts for invoices are just a way to help you keep invoices organized for record-keeping purposes – you can send an invoice to anyone you want from any sub-account. You can just create one unified account called “invoices,” and send out invoices to anyone and everyone, if you wish.
But, if you’re a seller expecting money from a lot of different sources, WePay has better services for you. You have the option of putting a WePay button on your website, which only requires you to copy and paste a bit of HTML code into your website. You can insert buy now or add to cart buttons onto your website. You can also accept donations using those buttons, and record keeping is handled adequately by WePay.
If you don’t have a website of your own, you can use WePay to create a simple WePay page (a service called WePay Pages) that acts as a store, a donations collector, or an event page. For the latter, you can also sell tickets to said event using WePay.
WePay is clean and fast. In practice, for most, WePay works about the same way as PayPal. Both are easy to use and secure. As it stands right now, what WePay doesn’t have that PayPal does is a reputation for having arcane security measures and unexplained account freezes. That alone is going to make WePay attractive to many.