Bill Clerico

And they looked at us like, you're crazy.

What was your, what was your payment volume in year one?

Oh, uh, maybe $15, $20, whatever we sent to each other.

Uh, and, uh, and then I think in year two, it was probably 20 or $30,000 just as our, whatever our close friends were using.

Cause it was not a good product at the time.

Um,

But, you know, we started over time.

It took us about two years, but we started to learn more and more about payments.

And we got a bank to work with us and we figured out fraud and we figured out regulatory issues around moving money around and all that.

But in the meantime, you know, we realized that person to person payments is actually a super tough business.

We had some great competitors there that were all offering the service for free.

And we realized that the value that we created was actually in figuring out all that payment stuff beforehand.

Not in the kind of user experience around person-to-person payments.

And so a couple years in, we said, hey, let's actually expose all this via API.

Let other entrepreneurs come build on top of us so they don't have to figure out all this other stuff.

And that was kind of the genesis for what WePay ultimately became.

Today, we're not a group payments company.

You can't use this to collect money from friends.

But if you want to build an application that makes that easy, we have a great set of APIs that make that possible.

We were still on group payments.