🤔 Why Switch?
If you are currently using WePay as your payment processor you will need to migrate off of WePay before September 6th, 2024. You will NOT be able to process payments on WePay after September 6th, 2024.
Why? WePay (owned by Chase Bank) is shutting down in September.
In place of WePay, we invite you to use switch to our in-house payment processor called Webconnex Payments.
The good news is there are some benefits to switching as well!
🎉 Benefits of Switching
🛟 Improved support :: The world-class Webconnex support team will field your questions.
🛡️ Experience less fraud :: Our in-house fraud monitoring team has raised the bar from WePay's security standards.
🚀 How to Switch: 3 Easy Steps in 15 Minutes or Less
Step 1: Add Webconnex Payments
3-5 minutes
Click the gear icon in the top right corner of your account and select Payment Processors from the dropdown
Click the Add Payment Processor button
Fill out the short form then click the Next button
NOTE: You'll select "Credit Card" from the dropdown and select Webconnex Payments and you can put Webconnex Payments as the reference name.
Enter your organization information and click the Save button
Step 2: Update Active Registration Pages to Process Through Webconnex Payments
<1 minute
You can start processing right away through Webconnex Payments, but first, you'll want to link the new payment processor to your active pages. Here is how:
From the Payment Processor screen, you can find your active WePay payment processor(s) and click the Switch All Pages button.
Select the new Webconnex Payments processor you just added
Repeat this step for any active WePay processors you might have on your account (most accounts will just have one)
Step 3: Complete the Verification (KYC) Process to Get Paid
5-10 mins
You will need to verify your organization's identify, your personal identity as well as add your payout instructions in order to receive your funds.
This video will walk you through this process.
Help with Verification
Documents needed to complete verification (organizations)
Documents needed to complete verification (sole proprietors or individuals)
Congratulations! With that, you are done! 👏 🎉
🤔 FAQ about the Migration
What is the new payment processor?
Previously, our payment processing was handled by WePay as a third party. Now, we have built our own integrated payment processing service that uses the same infrastructure that powers eBay, Microsoft, Spotify, Uber, McDonald's, Nike, and other billion-dollar brands.
What is the new payment service called?
Our new service will retain the Webconnex Payments brand that we’ve used prior, but how we process payments will no longer be handled by a third party. During our partnership with WePay, the payment service was called Webconnex Payments powered by WePay. It will now just be called Webconnex Payments.
What will appear on my donor's bank statements?
The first 22 characters of your page's title will appear on their bank statement. If you update the page title, it will update in real-time for any new transactions moving forward.
What is the payout schedule for Webconnex Payments?
Your direct deposit payouts will be sent weekly on Wednesdays. Depending on your bank, the deposit will likely be seen in your account on Thursday morning.
They will include all transactions that are settled by Monday night at 11:59pm. The deposit should be seen in your bank account by Thursday. Timing may vary based on banking institution.
What are the payment processing fees?
The payment processing fees are the industry standard low rate of 2.9% + 30 cents a transaction (in addition to your regular RedPodium fees). Prior, WePay’s processing fee when using RedPodium was 2.99%.
Will I still be able to login to WePay and can I still issue refunds and receive payouts from WePay after the switch?
Yes, you will still be paid out any funds you processed through WePay. You also will be able to issue a refund on transactions originally processed through WePay during their normal refund window. They also have communicated that you will still have access to your WePay portal until December 2024.
Why do I need to re-verify myself?
Financial banking laws and credit card regulations with the card brands (Visa, Mastercard, and American Express) require us to verify every person and organization to make sure they are legitimate and not up to shady things. We know it is a small pain. The regulations require us to obtain this from you again since we will be your new payment processor.
Why the change and what is happening to WePay?
Chase has decided to retire the WePay platform. They will not allow any transactions to be processed after September 6th, 2024.
What will be for the better with this change?
We’ll directly control several things we never used to, including customer support, escalations, technical support, new features, and more. Previously with WePay, their rules, policies, and processes were controlled by Chase, which were out of our hands and control. Additionally, we will be able to develop several new features around payments, including Apple Pay, Android Pay, Tap to Pay, and several other hardware and POS related options.