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  1. #51
    Join Date
    Sep 2002
    Location
    Top Secret
    Posts
    14,135
    Comparing paypal and 2co is like comparing a speedy mouse and a slow as anything turtle. Really, there is no comparison.

    Paypal:
    Instant payment, instant availability (through their debit card), or 2-3 day availability (over ACH/instant transfers)

    2CO:
    Instant payment, we'll get to you in 2 weeks, sometimes 3, maybe as much as a month. Basically, we'll pay you whenever we feel like it.

    If you absolutely NEED a credit card provider, go with google checkout, or worldpay, which I don't think has the same delay setup.
    Tom Whiting, WHMCS Guru extraordinaire
    Linux problems? WHMCS Problems? Give me a shout
    Check out my WHMCS Addons

  2. #52
    I would rather use Paypal than anything else, Only because most clients feel safer using Paypal. Paypal is also very user friendly and the fee's are not that bad.

    2CO seems a little off the top for me, I don't know if I would trust it.
    I like being able to access my funds when I have them not, every week.

  3. #53
    Join Date
    Jun 2010
    Posts
    177
    People use 2checkout if they lose their PayPal account, or if PayPal doesn't support their country or product. I've used both a lot over the years and the downside to 2checkout is you automatically lose any dispute, where PayPal gives the chance to send in proof. Also PayPal has seller protection which I've used several times and gotten reimbursed.

    Also when we did the math, 2checkout fees worked out to actually be around 9.65% for that business because they add so many other fees. We gave up on them long ago when a customer requested a refund on a $700 product and the rep gave it to them automatically and then told the customer to ship the product to 2checkout! They kept it for themselves and gave the refund...yep.

    I would use PayPal for low volume merchants as much as you can, people recognize it and they take care of security very well for the most part. It's only when you get above $30k a month that it makes sense financially to get a real merchant account (if you have a business type where you can get one to beat their rates).
    Niles Bentley
    High risk merchant consultant
    Skype merchantservicetoday3

  4. #54
    In my opinion Google Checkout and Paypal both are great as both are some well known names

  5. #55
    Quote Originally Posted by DJGaurav View Post
    In my opinion Google Checkout and Paypal both are great as both are some well known names
    Paypal is extremely expensive and they wait weeks to pay. I have never tried google.

  6. #56
    Quote Originally Posted by linux-tech View Post
    2CO:
    Instant payment, we'll get to you in 2 weeks, sometimes 3, maybe as much as a month. Basically, we'll pay you whenever we feel like it.

    If you absolutely NEED a credit card provider, go with google checkout, or worldpay, which I don't think has the same delay setup.
    2CO has weekly remittances and almost the same rules apply to WordPay as well. On the contrary establishing an account with WorldPay is a very tedious process-- they require you to submit too many forms and verification documents, and also their annual maintainance fee is kinda high, about $200.
    IMO, 2CO has the best fraud screening facility in the industry and its free, unlike WorldPay that charges $.X per payment.

    Unless you process considerable amount of online payments (minimum 5-figures) getting a merchant account is not advisable. There are a lot of over-heads like monthly fees, SSL, PCI-compliance checks, et all. In such cases, paying the extra 2-3% makes sense, IMO. Also, I have heard many people are more comfortable to pay using widely used methods like PayPal & 2CO rather than entering their card details directly on the seller's website. Maybe that accounts to some increase in conversions?

  7. #57
    Quote Originally Posted by firewiz View Post
    2CO has weekly remittances and almost the same rules apply to WordPay as well. On the contrary establishing an account with WorldPay is a very tedious process-- they require you to submit too many forms and verification documents, and also their annual maintainance fee is kinda high, about $200.
    IMO, 2CO has the best fraud screening facility in the industry and its free, unlike WorldPay that charges $.X per payment.

    Unless you process considerable amount of online payments (minimum 5-figures) getting a merchant account is not advisable. There are a lot of over-heads like monthly fees, SSL, PCI-compliance checks, et all. In such cases, paying the extra 2-3% makes sense, IMO. Also, I have heard many people are more comfortable to pay using widely used methods like PayPal & 2CO rather than entering their card details directly on the seller's website. Maybe that accounts to some increase in conversions?
    I think you hit the nail on the head. Paypal has its place for smaller sites and or a small volume of transactions. You will pay pay $30 per month for pro which is what you will need for access to the API.

    And you are also right when you mention peoples comfort level with using paypal.

  8. #58
    Join Date
    May 2006
    Posts
    1,426
    I used to moan and whine about paypal all the time but after trying some other ones it is good as long as you do your own fraud screening, make sure email/location matches and so on. I used to look at about 1% a month in fraud chargebacks as cost of doing business but it has got a little better. Definitely 2co is a pain and you will lose money.

  9. #59
    Join Date
    Aug 2010
    Location
    SE Michigan
    Posts
    28
    Man, this thread goes on and on. I was a 2Checkout and Paypal Merchant account user. I tried GoogleCart but it was not user friendly for my customers. I have just dropped 2Checkout because I am very tired of their high fees and they hold 15% of your money in reserve for 90 days. Yes, their fraud protection is excellent but my sales are average of $30 each so I am OK if one slips through with their high fees.
    I have upgraded my Paypal to Paypal Pro. The customer doesn't haven to leave my website and can use Visa, Master Card, Amer Express, and Discover or Paypal. The customer doesn't know that they are using Paypal unless they choose the express option. The fees are low + $30 a month which includes virtual terminal.

  10. #60
    I would advise against PayPal.

    The problem with PayPal is that your money is deposited in to a PayPal account (which they control) and this leaves you powerless if they decide to do a fraud check or security check on your account. They can then freeze your funds for 30,60, 90 days or even longer as well as reverse funds back out of your checking account on a whim. You have no recourse or control and appeals fall on deaf ears.

    While you can have a PayPal account, it is not a bank account and therefore they do not need to follow federal banking regulations. This allows them to freeze your funds on a whim and without explanation or answering to anyone else. Once again, you have no recourse or control and appeals fall on deaf ears.

    I got burned 1 time by PayPal years ago and never again and want to do everything I can to help people avoid the same issues.

  11. #61
    Paypal froze around $4000 of my money for 90 days. Capital is a small businesses lifeblood. Go get a merchant account. I have not hap problems since. Oh, and paypal will make it impossible for you to defend yourself if some denies a charge. If your shipping a physical product then you had better have a tracking number or say goodbye that that money.
    Scott Turman
    Orlando SEO

  12. #62
    Join Date
    Jan 2011
    Location
    India
    Posts
    1,453
    you can also check liberty reserve, it may be cheaper in transaction fees.

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