Extras: WePay, Markafoni, Social Payments

A collection of noteworthy e-commerce related news from last week:

WePay

WePay helps groups to administer collaborative financial accounts. Typical use cases could be found for student organizations, amateur sports teams or, as ReadWriteWeb suggests, a group of roommates.

WePay accounts enable the collective administration and gathering of cash pools, provides a means of making centralized payments, all the while providing transparency on all the transactions.

VentureBeat spoke with the founders:

"In an interview, co-founders Bill Clerico and Rich Alberman told me they see signs that WePay is “cannibalizing” PayPal users, something they hadn’t expected initially. With WePay, users are able to separate their payment activities into multiple accounts in ways that PayPal doesn’t allow, and also simplifies things considerably."

Markafoni

The Turkish private shopping club Markafoni has raised 11 million lira (5.4 million euro) from investors. Ex eBay manager Sina Afra has taken over general management of the company.

Social Payments

Russ Jones categorizes social payments and defines the topic:

"I’ve concluded that for something to be a social payment, it’s got to be social. It’s got to involve multiple parties paying at once. Or multiple parties being paid at once. Or one party buying and another party paying. On and on."

Social payments can be roughly understood as the union between financial transactions with social networks.

The WePay example could be categorized under social payments and then in a further sub category, group payments.

Originally posted in German by Marcel Weiss, adapted for excitingcommerce.com by Jason Soo.