I wonder about the difference of CC processing of Paypal Premier and 2CO ? In have seen that paypal can't accept a CC that is been registered with it, for anymore processing.But any other difference ?
Paypal Premier allows two way funds transfers, ie You can use Paypal to receive payments and you can use Paypal to pay others. 2Checkout on the other hand only allows one way funds transfer as it is a 3rd party payment processor, it just allows you to receive payments from your customer's credit cards but you cannot use the money you receive from 2CO to pay others, at the end of the payment term, they will send you the money via wire transfer or a check. That is the fundamental difference between the two. Paypal current only support customers from 190 countries (out of the about 202 countries in the world) while 2CO supports all apart from the few which are UN sanctioned. What do you mean by that ? I used my credit card to verify my Paypal account and am using that same card to make payments through Paypal for over a year now and never faced any issues. The Credit Card you use is not just for verification but it is used to make payments through paypal with. Of course if you use a VCC then that is another issue because that was made to trick the paypal system and would most likely be good for 1 time use only. Of course to prevent customers to abuse the Paypal system, once you use a credit card to verify an account, you cannot use it to verify another Paypal account. That is not a big issue because by right, you can have only 2 Paypal accounts (1 Personal + 1 Permier/Business accounts). It should not be difficult to get two credit cards from two different banks or even from the same bank, ie one VISA and one Mastercard.
ok so if I am starting a business which one u recommend : Paypal Premier or 2CO ? Whatz the charge for 2CO ! Since I am not having 100% sure that the business will be a success, so what to do ?
There is no fees to start a Paypal Premier account but there is a $49/one-time charge for a 2Checkout.com account. 2Checkout accounts can only be used for 1 website while a Paypal Premier account can be used for any websites as you want as long as you own them. 2CO fees are 5.5% + $0.45 https://www.2checkout.com/documentation/op_regs_a.html Paypal Premier is 2.9% + $0.30 It is good to note that Paypal offers the lowest rate in the market for Payment Processing especially for Credit Card Processing. I think they are lower than if you got a Merchant Account directly from a bank to do the same thing. I would think that in the end, Paypal would be a better choice especially with the latest inclusion of the 87 new countries. There are only a small number of countries which you will not be able to deal with but I doubt it is going to be much of a difference.
2Checkout is not a payment processor. They are a reseller. 2Checkout has the merchant license and you become a supplier for them. 2Checout manages fraud, has 24 hr customer care. They offer multiple payment options and deal in multiple currencies. They are accepted in most countries and they accept liabilities that the others do not. 2Checkout has no monthly fees or hidden costs. I have been a 2Checkout vendor for three years with no problems.