WePay

PayPal to cut several hundred jobs, say reports

PayPal is cutting 3 percent of its workforce, or from 300 to 400 jobs, as new President David Marcus looks to streamline operations and trim costs, according to reports.

Bloomberg cited an unnamed source in reporting the news, and Reuters followed with its own report later in the day, also citing an anonymous source.

PayPal's product and technology groups would be hardest hit by the cuts, which will occur in the next few weeks, Bloomberg said. PayPal currently employs about 13,000 people.

The company is facing competition in the online-payments market from startups like Stripe and WePay. It'… Read more

Stripe Connect gets the money train rolling for online shops

Merchants or community managers that sell goods or accept donations through larger platforms like Shopify, Reddit, or Skillshare can now quickly start taking credit cards, thanks to a new system from the online payments company Stripe.

Called Stripe Connect, the new system is designed to make it easy for any online shop or group to process credit-card payments from donors or customers.

At the same time, Stripe Connect is also giving Stripe partners a way take advantage of analytics software, CRM systems, and other financial packages in order to see real-time account data. Indeed, the company is hoping that developers … Read more

WePay has big 2011, still hopes for 'balls to the wall' 2012

Most companies would be happy with 1,000 percent growth in one 12-month period. At the online payments company WePay, they're shooting for back-to-back years like that.

Late this evening, WePay released a set of statistics showing that it had a very good 2011. Among the most notable figures was that the Palo Alto, Calif., company hit the 1,000 percent growth mark in revenue, users, and total payment volume.

And according to co-founder and COO Rich Aberman, WePay believes it can hit those same milestones in 2012.

That the company feels so bullish should come as no surprise. … Read more

At WePay, planning a 'balls to the wall' 2012

PALO ALTO, Calif.--Bill Clerico may not be Steve Jobs, but he's doing something very Jobsian: "I'm pushing people to do things they don't think are possible."

Clerico is CEO of WePay, an online payments collection service that is taking on the likes of PayPal, Stripe, Braintree, and others, and which is growing--fast. Its 2012 revenues will likely be several times that of 2011, and that means a big expansion in users and employees. Plus long hours and hard work for those already on staff.

It's nearly 10 a.m. on a recent Monday, … Read more