The new implementation is set to enable Facebook users to collect money online for events, reunions, fundraisers, wedding showers, clubs and fantasy football leagues. Customers can access WePays Sell Tickets application to sell tickets for any Facebook Event, while the Collect Money application enables users to collect money from members of any Facebook Group. Group members can make payments with their bank accounts or credit cards.
WePay has recently completed a Series B funding round, gathering USD 7.5 million worth of capital. The company plans to use the funds to expand its presence on the market, build out operations as well as its engineering infrastructure.
Founded in 2008 and released in public beta version in early 2010, WePay’s service allows users to keep their groups money in a dedicated account and to share this account with the members of the respective group.
Payvment, a developer of Facebook’s shopping platform, has recently made available a new application programming interface (API) set to enable retailers with a Facebook account to import their product catalogues to the Payvment Facebook page in order to offer these items for sale to the social network’s half billion members.
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