The popularity of crowdfunding is accelerating rapidly and technology solutions have emerged which are capitalizing on the trend.
The WePay platform, for example, recently announced that it is now processing up to $1.5 million per day in crowdfunding payments, and powering 6 of the top 15 crowdfunding marketplaces, boasting more than 30 partners using its API including GoFundMe, Fundly, Fundable, YouCaring and Honeyfund.
WePay has averaged 35 percent monthly growth in crowdfunding-specific processing since launching since it launched its first crowdfunding API partner in October 2011. On average, WePay has processed 648 percent more crowdfunding volume in each calendar month of 2013 than the same calendar month in 2012.
"We took our years of experience underwriting small merchants and are delivering that experience to our crowdfunding partners through our API," said Bill Clerico, CEO of WePay. “I think that’s where crowdfunding is growing the fastest – in giving literally anyone the power to accept payments online.”