Helping groups share expenses

Splitting costs among a group of people is frequently fraught with difficulty. WePay aims to make it easier for groups of any size to share expenses of any kind. Recently launched into public beta, California-based WePay is an online payment service that strives to make it easy for groups to collect, manage and spend money. Specifically, WePay allows users to create free FDIC-insured accounts and share them with others to maintain transparency. From these accounts, users can send electronic bills—payable with bank accounts or credit cards—and spend funds with a WePay VISA prepaid card, paper checks or electronic transfers. Clubs, organizations and associations of all sizes can use WePay to send bills and collect money, solicit donations, send reimbursements and spend money transparently. Unlike PayPal, WePay also lets users create separate accounts for different things—one for expenses shared with roommates, for example, and a totally separate one for a group vacation. Fees for using WePay range from USD 0.50 to 3.5 percent per incoming payment; outgoing transactions are free. WePay currently supports only U.S. payments, but it’s working on international capabilities as well as an API. One to partner with to help make that happen…? Spotted by: Kare Anderson