Hi, I'm about to start a web hosting business, and searching for a good payment processor, I like 2CO system, but I've read really some bad reviews about them Please if anyone here use 2CO review them for me. Thanks!
I have been using them for 2 months now and never had any issues with them, though they have higher transaction fees than paypal and small portion of the money is held back and released after 90 days for security reasons.
You've been with 2CO for 2 months and they held back the money for 90 days, means you haven't received any funds yet, right? Some reviews says that they hold the money for too long and says you have some needed steps of activation or something.. Some other reviews says that they do some unauthorized CC transactions, some orders are delayed before confirmed.. And so on..
I've been using 2CO for a few years now, never had any issues with them. They are fairly slow in detecting fraud orders, sometimes you could be waiting for hours before a confirmation, however, overall, they are very good. I do not use them much, as most people tend to use PayPal, and 2CO is just a secondary option for those that do not want to use PP.
Thanks for the comments everyone, I'm planing to use them as my primary payment method as Paypal is not supported in my country. I will try to add Moneybookers and Alertpay as alternative at a later stage. Any other reviews will be greatly appreciated.
I have also used 2checkout and I must say they offering very accurate services. Less chargebacks and disputes. why do not you try Google checkout?
2checkout is very strict about frauds and chargebacks. They do a lot of verifications before they pay you. Infact they even call your clients if they are satisfied with your service.
They will call for your customers randomly to check about services. If customer did a mistake with order, drawbacks will come for you. Otherwise 2co best. You can use fastspring, plimus as alternatives. Thanks Blog.
they don't hold all of it. it's not uncommon for a merchant account to hold funds up to 90 days.generally it's 10-30%. paypal holds 30% for 90 days.
paypal do not accept your country but you can create another country account and accept payment as well and it works as other do.
I used 2checkout before I got my own merchant account. Not bad if you are looking to offer an alternative to PayPal for your customers, but it has its drawbacks. Pros- Low startup cost, no monthly fees IIRC. Cons- Higher transaction fees. Monthly reserve is kept in case of chargebacks. Less control as you do not own the merchant account, they do. If you are doing $1,000+ per month in credit card sales it is probably worth getting your own merchant account, instead of using 2CO as they are simply an intermediary.
my problem with paypal is that I can't receive money to my debit card or credit card account. Kinda wierd. It seems i'll have to open a US account at my bank then open a paypal us account. I'm experimenting with alertpay at the moment. Once i start receiving payments, i'll post my feedback.