I am a little player in hosting industry, so far I don't need merchant account yet. I have looked and searched threads here.

paysystems used to be reliable, but seems no more
2CO starts to have problems...
ikodo and stormpay are too young? passed gorwing pain?
wolrdpay is too bloody expensive

any good options else available?

there are still some good guys lurking around that don't make you get a merc acct ;)

No doubt it is
I simply love paypal!!
It rocks!!

Paypal only rocks in less than 40 countries.

If you are selling tangible products, CCNow is highly recommend. Althought CCNow closed my account because of the product I was selling, I had no hard feeling.

Do you guys have any idea about ccavenue? An india based 3rd party processor company.

paypal is just so easy to configure. most internet shoppers have a paypal account and trust them too.