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04-02-2010, 02:03 PM #1Newbie
- Join Date
- Mar 2010
- Location
- Alexandria, VA
- Posts
- 27
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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