Which is the best place for opening merchant account ?

2checkout or Ikobo ?

Thanks for answering.

yeh i would like this info as well, looking to open one to

Hi kelvinklay & flashytemplates

Both of the 3rd party processors you mentioned have good and bad qualities and you'll undoubtebly see a bit of each.

Perhaps if you give a small list of capabilities you want your processor to handle could result in more well rounded answers ..
ex: do you need recurring billing to clients
do you need a specific countries currency enabled
do you need wire transfers etc

Also, depending on where you are located, an option that might be open to you, is a real merchant account. If your sales volume projections are decent, you'll pay less fees on each transaction.

Before you open an account with a 3rd party processor you would do well to look back through the threads and you will find a wealth of information about all of them.Some of it will turn the hairs on the back of your head turn white :eek:
2CO and IKOBO are not merchant accounts.

It all depends on where you are located, what type of volume you are going to be selling, what products & services you are selling and even who your customers might be.

If you are in the United States & expect your volume to be over $1,000 a month, a merchant account is usually warranted. Paypal should also be considered if your are selling items that do not violate their AUP & TOS.

but where to start from ?

Hi Musicbox

To get started, look at the suggestions below

If you:
are based in the US, UK
expect to process more than a grand a month

~ look into getting a merchant account (there are several posters here that can assist you with this)

If you:
are just getting started and don't expect high $$ volume yet
are located in a country that makes it difficult to obtain MC's
do not plan to sell any high risk items

~ a 3rd party processor might be your best option

Once you know which of the above options best suits your needs, then begin contacting companies that offer that type of service with any specific questions ... (to see if they can meet your needs)

the questions both of them will ask you are:
Where is your business located
What type of products are you planning to sell
What is the URL of the site(s) you'll be selling from
What is your estimated monthly sales volume
(for a merchant account they'll also want to know your normal transaction price - average price of item sold)


a decent rule of thumb is - if the company ignores your emailed questions, they probably will do the same if you run into problems later. Good customer service is important for every merchant big or small.

I hope this helps :)

Being in India can be problematic at times. But it seems that you might be growing? WorldPay might be one option for you - but I do not know if you are looking or if you are able to pay their set-up fees?

If you are in India check into Verotel or Worldpay

I don't think Verotel is a good option if you run a store, they are much to expansive for both small business and growing.

The key business for Verotel is Adult websites.

If you are in India, I seem to remember a few good things about CCAvenue. There is another, but I don't remember.

Good luck.

Try www.transactindia.com & www.transecute.com, these two are indian companies.

Thanks Nish,

but transactindia.com is charing 7% which is too much
and transecute.com is charging 5% like 2checkout

For a new startup business,5% is average,you would not get a proper Merchant account for less anywhere out of the USA.

Merchant Account fees go by your yearly average takings,so if you are a new business this would be 5% (at least) Now the 3rd PP companies have to process your money and they will definitely want to be covered if only for the expenses.You have to prove yourself before you can get lower fees.Once you are taking fair money regularly you can then opt for a proper Merchant Account with a bank for example:)

Kevin, transactindia has another account with 5% and a higher setup; best thing about indian gateways is they don’t charge a flat fee on each order like 5.5% + $0.45.

If you are a new startup business, start with a minimum setup, and later you can always upgrade

Nish do you have work with transactindia or you have one account with them ?