Payments provider WePay is officially part of JPMorgan Chase & Co., WePay announced Monday. The banking giant wasted no time putting WePay to work as the backbone of a new payments service from Volusion LLC, an e-commerce platform. Chase announced in October it was buying Redwood City, Calif.-based WePay for an unspecified amount.
WePay develops payments-related application programming interfaces (APIs) for software developers to put into their own programs, and it also is a payment facilitator that enables small businesses without their own merchant accounts to submit card transactions for authorization and settlement. More than 1,000 software companies use WePay, while providing instant onboarding services and giving software developers and related organizations access to Chase’s network of 4 million small-business clients.
The new Volusion service, dubbed Volusion Payments, will enable small and mid-size merchants working with Austin, Texas-based Volusion to “be able to get up and running instantly, with next-day settlement, competitive rates, and all of their payment processing tightly integrated within the software they’ve already chosen for managing their online stores,” Kevin Sproles, Volusion founder and chief executive, said in a statement.
Chase added that its Web site, Chase.com, will begin featuring software partners like Volusion, a move that could provide “business-service providers online exposure to millions of potential new customers,” Chase said.
WePay will continue to operate as a standalone company, but will act as a payments incubator for the bank and be able to tap into other Chase capabilities, WePay says.
In related news, WePay announced that JobNimbus LLC, developer of customer-relationship management and project-management software, will offer WePay payments services within its application. The service is called JobNimbus Payments.