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WePay, the online payment collection service, has added invoicing to its lists of services, giving small businesses and individuals the ability to collect money for services they’ve provided.
Founded in 2008, WePay is known for its easy, anyone-can-use-them payment collection services, aimed at individuals and “unsophisticated” online sellers. The company was originally designed to help friends collect money from each other, and has since grown to cater to online businesses looking for a cheap way to collect payments.
Now, freelancers and businesses can invoice their customers with WePay. The service will send out an invoice and collect payment, charging a 3.5 percent fee on payments with no monthly fee. Users can also customize invoices with different color schemes and company logos for additional fees.
Other invoicing features WePay has added include setting up reoccurring payments, charging late fees, scheduling automatic payments, and overdue reminders.
“We’ve enhanced our tools to help freelancers and small merchants accept payments online by sending professional-looking invoices without a ton of work or confusing, hidden monthly fees,” WePay chief executive Bill Clerico said in a statement.
WePay’s competitor PayPal already offers invoicing services, charging between 2.2 and 2.9 percent plus 30 cents per transaction. PayPal also boasts no other fees, just like WePay. ZenCash is another competitor, one that doesn’t collect payments, but sends out invoices to customers for you. ZenCash charges a flat fee of about $2 to send out invoices.
WePay is based in Palo Alto, California and has raised $9.5 millon in funding.