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2Checkout.com - 2CO Payment Review
Last
Updated:
November 30, 1999
2Checkout.com
- 2CO
2Checkout
is a way to accept credit cards directly on your website.
It is not a true merchant account as you don't have to apply
or have a business name. With that being said the processing
fees are more than your average merchant account. However
unless you are doing a lot of volume per-month the fees 2CO
charges may still be less than the monthly statement fee a
merchant account requires. And since you don't need a business
license to join 2CO
you don't have to spend any money on one of those if you don't
have one either. 2CO
offers Fraud warnings on orders as well, when someone pays
and their IP doesn't match the country where their credit
card is you get a nice warning in your e-mail so you know
if you should deny or accept the payment. Since 2CO
does accept credit cards you are responsible for any chargebacks
done by your customers. Chargebacks are the number 1 reason
why people hate accept credit cards, the customer can simply
change their mind and call up and get a chargeback. You now
out the money for the hosting, and you have to pay
2CO
a chargeback fee. This is what 2CO
says about chargeback fees.
"When an issuing bank sends
a chargeback dispute, the bank also charges a research fee.
This fee can range from $10 to $30 depending on the bank.
2Checkout reserves the right to pass the bank's charge back
fee on to supplier involved, at our discretion."
I personally
have been using 2CO
for over a year and have not had any problems as of yet, but
I watch my orders carefuly, and make sure they are not fraudulant.
Remember you can call each # on the order and verify they
did place the order. This almost guarantees no fraud.
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