U.S. and Canadian exchanges can get an instant WePay merchant account, as a new account request and WePay processing is integrated into VirtualBarter Phoenix.
Here's how to get a no hassle instant merchant account...
Simply check the WePay box in the Payment Gateway Settings section of the Exchange Settings page, which is found on the Exchange menu to instantly get your very own WePay merchant account. When you receive the confirmation email, click the button to confirm your request, and get instant access to your merchant account.
VirtualBarter & WePay uses tokenization for enhanced security.
A unique token is generated for each member so their credit card data is not transmitted during processing.
When a new member is added to your exchange, they must provide the CVV code in addition to credit card number and expiration date.
All current members must add their CVV to their payment info in order for you to process through WePay, which will require members updating their payment details.
Never lose a single cent to fraud
Every transaction processed by WePay is secured by industry-leading risk technology. And if some does get through, don’t worry: they will eat that cost.
A service you can trust
WePay is used by several of the largest accounting and billing platforms on the web such as Freshbooks, Go Fund Me, Constant Contact, and MeetUp.
Merchant Processing Fees
WePay charges all merchants 2.9% of the credit card transaction amount + a $0.30 transaction fee. ACH is 1% and $0.30 per transaction. They deduct their fees, and desposit the net amount to your checking account within 2 days.