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04-02-2010, 02:03 PM #1Newbie
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Payment Options - Paypal vs, 2checkout
I am in the process of getting everything set up for Joromo (my hosting company) and I’ve set up Paypal. I’ve read a lot of positive things about 2checkout on this site but I had a question for those that are using their service.
According to their fee schedule they are charging a 5.5% commission + $0.45 fee for each transaction processed through them (in addition to the $49 setup fee). So on a $50 transaction, it’s costing me $2.75 + $0.45 or $3.20 total. Now according to Paypal's fee schedule, they are charging 2.9% commission + $0.30 fee on all transactions making my cost on the same transaction only $1.45 + $0.30 or $1.75 total. So in all, I’ve saved $1.45 using Paypal for the same transaction which isn’t a lot but compounded over a few hundred clients and you are talking significant money.
So In saying all that, why do people choose to use 2checkout? I understand the argument for providing more payment options but Google Checkout, for example, has the exact same pricing structure as Paypal and provides similar options. So why 2checkout?
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04-02-2010, 02:08 PM #2Junior Guru Wannabe
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As far as I'm aware you can use 2checkout's API to accept credit cards on your website.
That is the only advantage I'm aware of. Could be mistaken though..
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04-02-2010, 02:28 PM #3Web Hosting Master
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So goes google checkout. But seems far more powerful and competitive than 2CO
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04-02-2010, 07:20 PM #4Support Facility
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In comparisons paypal seems to be cheaper options overall and lower commission rate as compared to 2CO.
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04-02-2010, 07:32 PM #5Newbie
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04-04-2010, 02:09 AM #6Newbie
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I dont know about google checkout, but man paypal fees suck for large transactions. A client sent 250$ and they took off nearly 10$ or something...
Oh well XD
until we find some other alternative
regards,
Ryan
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04-04-2010, 11:11 AM #7Web Hosting Master
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I think it is always good to accept PayPal and Google as they are the big names everyone knows and trusts.
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04-04-2010, 12:18 PM #8Disabled
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Its mainly to do with bank cards, i personally use google checkout when the client says "My paypal wont let me use my card".
You get it alot, but yes googlecheckout, paypal and moneybookers. I don't know why people use hundreds of different ones, they all do the same job.
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04-04-2010, 02:42 PM #9Newbie
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I guess some customers do not trust Paypal (plenty of horror stories on the internets) but trust Google. Or vice-versa. Stick to only one of them and, sure enough, this or that customer will refuse to buy from you. Give your customers choice and they will be more likely to buy what you're selling.
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04-04-2010, 03:26 PM #10Web Hosting Evangelist
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I would prefer to use paypal but giving the customer's more then 1 choice would be much better
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04-04-2010, 03:58 PM #11Web Hosting Master
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So In saying all that, why do people choose to use 2checkout? I understand the argument for providing more payment options but Google Checkout, for example, has the exact same pricing structure as Paypal and provides similar options. So why 2checkout?Mellowhost - Providing High Quality Web Hosting Services since 2007
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04-04-2010, 04:31 PM #12Aspiring Evangelist
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I don't know about 2CO but I use Paypal because it's easier and more people seem to have a PayPal on hand.
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04-04-2010, 10:18 PM #13Junior Guru Wannabe
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you could offer both payment gateways, (if you want to pay the 2co $49 setup fee)
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04-05-2010, 12:01 AM #14WHT Addict
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I've had issues in the past with 2checkout and tangible services, paypal's been great.
I hear horror stories over frozen accounts @ paypal too though, so I guess its a whatever works best for your particular type of transactionsAdam Piatek - CTO Ritmo Technology Group
Dedicated Servers, Web Hosting Solutions Ventrilo Servers
adam (at) ritmohost (dot) com
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04-06-2010, 03:46 PM #15Junior Guru Wannabe
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Also you can use 2CO and accept paypal through 2CO gateway.
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04-06-2010, 10:10 PM #16Newbie
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I also had issues with 2Checkout. For one, it took them over 14 days to clear funds. That's a long time. paypal was in 2-3 days max. Things might have changed now, but i have stuck with paypal ever since.
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04-10-2010, 01:24 PM #17Temporarily Suspended
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paypal is good option for any companies willing to accept payments through credit cards but had few complains. But i have also used 2checkout they refund customers who uses there credit cards from outside there countries. In return they ask customers to send them scanned copy now who will send scanned copies ? just think about it.
Payment processor has to be easy processing.
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04-10-2010, 02:36 PM #18Aspiring Evangelist
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04-11-2010, 04:44 PM #19Newbie
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i also prefer paypal have been with it since last years
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04-11-2010, 05:05 PM #20Web Hosting Master
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2checkout is a good alternative way to still accept paypal in the event for paypal account gets limited and they tell you to go away.
I prefer paypal though, It's easier.QuadraNet Enterprises | Providing Secure Infrastructure Solutions to modern businesses since 2001.
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04-11-2010, 05:20 PM #21
We offer both Paypal and 2Checkout i've noticed user without paypal account prefer to use 2Checkout to pay via credit card instead of use paypal.
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04-11-2010, 05:39 PM #22Web Hosting Master
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04-11-2010, 09:32 PM #23:]
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Yeah, it's because most of them are either from some foreign country where their cards keep getting declined by PayPal's (very nice) security system.
...or
they are using a) a 'banned' -> usually stolen card; b) not supported in their country or c) have something against PayPal because their card is used on some limited account that they decided to scam someone on eBay from.
I've never had a problem with a good client using PayPal - one who can verify their details and is clear of any, well, "issues."
There are very few people that just detest PayPal as a personal choice, most cannot physically use it.
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04-12-2010, 03:56 PM #24Junior Guru Wannabe
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One problem I found with 2CO is as a UK Merchant because I want to sell in GBP £ my Customers would only be able to pay with Visa & MasterCard and none of the other supported methods that 2CO has.
Of course PayPal offers all the card types that 2CO does as well as Direct Debit and the variants for other countries + lower fees.
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04-16-2010, 02:24 AM #25Newbie
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2CO is better because their support is very good and they accept paypal too, so you hit two birds with one stone
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