Chase just finished switching their "Quick Pay" infrastructure over to "Zelle", and now they're buying WePay. I wonder what they intend to do with it?
WePay is about providing payments infrastructure to marketplaces and crowdfunding platforms (Lyft, GoFundMe, etc.). WePay are competitive with Stripe's Connect product (disclaimer: my employer). Braintree and Adyen also have similar products.
Congrats to the WePay folks. I hope this new chapter works out well for them!
I'm surprised that Zelle is moving so slowly - it's a great selling point for a bank/CU. Alas, the system doesn't allow for non-personal payments, so the banks want to preserve their commercial payments processing income.
Also, Zelle and WePay are in two completely different spaces. Zelle is consumer-to-consumer money transfer. WePay is a merchant payment processor.