[Steltek]

I think the biggest asset would simply being "not PayPal". PP has been cultivating a bad PR problem lately and systems like these will have a social lock-in effect. Not quite as bad as Facebook vs Google+ but people would be reluctant to wander too far out of bounds, especially when bank accounts are concerned.

You seem to have some great goals yourself, however. Good luck to you!

[EREFUNDO]

Actually it is the sellers that PayPal is turning off. Their dispute resolution policies are abstruse and keep changing in their attempt to protect buyers. They have relied too heavily in freezing, closing, and even withdrawing money from sellers’ accounts without prior notice. So many eBay sellers who have relied on PayPal had their entire businesses destroyed with one incident. A payment system that focuses on preventive security would not rely on such heavy handed tactics when resolving disputes between buyers and sellers. If all users (buyers and sellers) have an equal distribution of control during the entire transaction then incentives for committing fraud on both sides will be effectively eliminated. Right now one party gets paid then the other has to wait for his merchandise. PayGuard will solve these problems. The challenge now is to get people to start trusting new players in the market.

[r00fus]

Agreed. All WePay needs to do is to scour the collective horror stories of PayPal screwups, find equitable solutions, and build up street cred.

Of note: WePay mentions that monies are held in a real bank account - IMHO, this is a huge plus over PayPal who only pretends to be a bank.