Big Changes (to payments) Coming!

After more than 9 years of using Wepay to process payments on The Exchange, it’s time for a change! Here’s what that means for you…

For Sellers:

  • Sellers with active listings will need to re-onboard by Jan 31st to avoid deactivation of listings.
  • Good News: The new onboarding process is far easier than Wepay’s KYC process. Beyond re-entering bank & routing info so you can receive deposits, you’ll only need to provide 1 business verification document.
  • More Good News: Sellers with profile scores > 90% and at least 1 month of sales history will receive payouts much faster. No more reserve delays for sellers with shiny track records.
  • To get started, just click on the main menu (gear & profile icons) then scroll down to Payouts (under My Company).
  • Note: only company admins can enter or change banking info.
  • Bank account updates will only affect future transactions. Any transactions already in progress will continue processing via wepay and cannot be re-routed.
  • Payout schedule & history will appear on the Payouts page after you ship new orders.

For Buyers:

  • Beginning Feb 2nd, enjoy big savings when paying via ACH.
  • We’ll display all options during checkout & you decide how to pay.

Great news indeed. Thanks for the upgrade.