PALO ALTO, CA--(Marketwire - October 5, 2010) - WePay today announced that GroupSpaces, a fast-growing online group management service with more than a half million members, has added WePay as a core payment offering. Now available to all U.S.-based members of GroupSpaces, WePay is the first online service designed specifically for collecting and managing common group funds and purchases such as sports teams, philanthropies, roommates, college organizations or fantasy leagues.
GroupSpaces provides an all-in-one set of tools designed to meet the needs of managing groups online, including mailing lists, member databases, forums, event management and group purchases and payments. WePay is seamlessly integrated into the 'Payments' tab of the GroupSpaces' dashboard and group managers can collect money to an existing WePay account or sign up for a new WePay account directly through GroupSpaces. Once a WePay account is established, the entire group collection and payment management process, including member invoicing, deposit notifications and payment reminders, can be managed natively within GroupSpaces.
"GroupSpaces users are already managing, organizing and communicating with their groups online. WePay is a natural extension of this functionality, providing group administrators with a transparent and easy-to-use way to collect funds from their group memberships," said Bill Clerico, co-founder and CEO, WePay. "The integration additionally exposes our service to hundreds of thousands of GroupSpaces' users who are already using Web tools to manage online and offline groups."
WePay is the only GroupSpaces payment engine that helps users establish a unique, FDIC-insured account for each group they want to manage, allowing for easier, more flexible and more transparent management of group finances. The integration is the latest in a series of major API initiatives for WePay, which recently released similar functionality for Facebook, 1000Memories and CampusLIVE.
"Collecting payment for member dues, event tickets and group purchases from members is a key problem for groups that use GroupSpaces," said Andy Young, co-founder and CTO, GroupSpaces. "Helping us to provide a flexible, easy-to-use and trusted way for GroupSpaces' users to collect and manage money, WePay is a key ingredient for broadening the appeal of our core service offerings for a U.S. audience."
GroupSpaces' members that use WePay can choose between either a 50¢ or 3.5 percent transaction fee, depending on whether they pay with a bank account or credit card.
About WePay
WePay makes it easy to collect and manage money online. WePay is the only service that allows users to keep their group's money in a dedicated account and to share this account with their group. WePay is great for professional organizations, social clubs, sports teams, fantasy leagues, philanthropic fundraisers and groups of friends. Founded in 2008 and backed by August Capital, Highland Capital Partners and YCombinator, WePay is headquartered in Palo Alto, CA. For more information, visit www.wepay.com.
About GroupSpaces
GroupSpaces is a London-based company developing technology to help real-world groups and communities manage and promote themselves online. Today our software helps manage over 1/2 million memberships for sports clubs, charities, university societies, national associations and many other groups. GroupSpaces was founded in 2007 by David Langer and Andy Young, frustrated with their experiences managing groups while at Oxford University. GroupSpaces is funded by Index Ventures and a consortium of Angel Investors including Simon Levene, Dave McClure, Chris Sacca, Quincy Smith, Ariel Poler, Meagan Marks, Stephen Bullock and Avonmore Developments. For more information, visit www.groupspaces.com.
Contact Information:
Press Contacts:
WePay:
Rich Aberman
Co-founder
650-521-5273
rich@wepay.com
GroupSpaces:
David Langer
CEO
+44 (0) 207 193 5063
david@groupspaces.com