Need to know about 2Checkout

[Lifetalk]

Hello 2Checkout,

I operate a fully legitimate e-business. When I decided to start using 2co, the application was approved, I installed the script and started testing the payment system with my credit card by attempting to process $0.01 payments.

Right after that, my account was banned with no reasons given whatsoever. This doesn?t look like a nice way to conduct business to me.

A while later, somebody from the fraud prevention center told me I should find another processor.

Does what I did make me a scammer? I have established relations with companies like Plimus, PayPal, WebMoney, LibertyReserve, with no problems so far. However, with 2co it has been a complete disappointment right from the start.

This is common. 2CO is one of the worst companies out there and I've always steered clear of any and all merchants that exclusively use 2CO. If you use 2CO, expect to lose a lot of sales, even if they are perfectly legitimate.

I've attempted to buy services at a merchant who exclusively used 2CO. Perfectly legitimate transactions were denied 24+ hours after the transaction actually went through and was authorized. The merchant was at a loss for explanation and I told him he'd lose me as a customer (and probably many more) if he continued to use 2CO exclusively. Fortunately, he has since opened up and accepts more than just 2CO.

2CO will also disable/ban your merchant account with no explanation whatsoever. This is not new, it happens, and it will continue to happen. I get it that you want to be strict as far as fraud is concerned. But if you're going to be so damn good that your system declines perfectly legitimate payments, then well, I don't really know lol. There are so many options out there that I sometimes wonder why anyone would use 2CO unless they had absolutely NO OTHER option.

Lifetalk Reviewed by Lifetalk on 23rd Aug 2012. Need to know about 2Checkout Hey I thought about 2Checkout currently. I have the credit card and stuff so there is no problem but the problem is withdraw money from 2CO. I read 2CO take 14-17days to transfer money in my local bank also the amount must be $300 or more. SO If I have 244EUR in my account can I withdraw that too? Rating: 5

[FShoppe]

My experience with 2CO has been somewhat mixed.

My company (not FileShoppe) have used 2CO for a number of years and for the most part have had no issue. To this day 2CO is an option for our users to pay by.

That being said, their fraud detection is poor. They have allowed thousands of dollars worth of fraudulent transactions go through and still charge their merchant 'charge back' fees even when the charge back is not disputed. I understand that they themselves may be hit by these charges but considering the high transaction cost of 5.5% + $0.45, you would think they could cover such costs when, to be perfectly honest, it is just as much their fault when THEY authorized the fraudulent transactions. The number of times we have determined the transaction to be fraud and cancel/refund ourselves is much higher than that of 2CO.

That being said, Paypal is worse. We have had charge backs 3 months after the fact. We sold a domain for HK$100 (approx US$13) only to have the customer charge back after 3 months. Paypal do not offer you the opportunity to refund so you have no choice but to absorb the charge back fee. Paypal take back all $100 without refunding their own fees, and then slapped on an additional HK$75 (apporx US$10) on top!

It is ridiculous.