2Checkout Overview
2Checkout, also sometimes referred to as “2CO,” is an e-commerce payment processor that specializes in international commerce. Similar to PayPal, 2Checkout enables online business owners to accept credit cards through their websites with minimal technical expertise required, but 2Checkout differs from PayPal in that it allows merchants to receive their payments via direct transfer to their bank accounts. 2Checkout offers on-site checkout experiences in 15 languages and can accept payments from customers in 87 currencies.
2Checkout’s features include international payment processing, two hosted checkout options, a payment API for advanced integration, integration with over 100 online shopping carts, recurring billing, online invoicing, sales reporting, and a mobile app. 2Checkout charges 2.9% plus $0.30 per transaction to businesses based in the U.S., but additional fees may apply for cross-border transactions, currency conversion, or certain payout methods. 2Checkout does not charge any setup fees, monthly fees, or early termination fees and offers phone support to merchants during business hours. Ken Benvenuto is the CEO of 2Checkout.
The BBB maintains a separate profile for 2Checkout, but 2Co was purchased by Verifone and is still operating under the 2Checkout brand.
2Checkout was acquired by Verifone in September 2020 for an undisclosed amount. We will continue to monitor the situation and adjust this review if anything changes.
2CO is a merchant account alternative that allows online credit card payments. 2Checkout does not require the customer to sign up for a 2Checkout account to pay.
2Checkout focuses on offering international online payment options to small and mid-size businesses. Customers can choose from 45 different payment methods, 30+ languages, and over 100 different currencies.
2Checkout has received 500 public complaints, has 15 complaints and 17 reviews from the BBB, and does not hire independent sales agents.
2Checkout’s pricing is simple: 3.5% plus $0.35 per successful sale, 4.5% plus $0.45 per successful sale, and 6% plus $0.60 per successful sale. 2Checkout no longer varies its rates depending on the country, and its fees are the same worldwide.
2Checkout may charge a higher transaction fee if the sale of restricted products creates a potential or actual financial or reputational risk for 2Checkout.
2Checkout offers several valuable services, and is a low-risk option for companies that need to process offshore payments.
2Checkout is a merchant account alternative that is available to just about anyone who wants to accept payments. Many of the complaints have been filed by people that did not understand the restricted products and services policy.
2Checkout receives valid complaints based on its fraud prevention policies, but 2Checkout could do a better job of communicating with merchants about the 90-day hold period.
2Checkout offers a support ticket system and FAQs, as well as phone support.
2Checkout’s BBB profile has been merged with that of Verifone. The company has received 15 complaints, 8 of which have been resolved to the satisfaction of the merchant.
2CO does not appear to use any misleading sales tactics or marketing in its official materials. All pricing is clearly displayed without hiding any processing fees.
2Checkout offers an easy-to-use electronic payment alternative for accepting online payments. The company offers a customizable service and is recommended for businesses that would like to integrate with FreshBooks.
At a glance
Founded: 2000
Location: Columbus, Ohio
Acquiring bank: Multiple, undisclosed
Website: 2checkout.com
Phone number: 877.294.0273
E-mail: Contact form here
2Checkout Promotional Video
Online reputation and reviews
There are approximately 100 negative 2Checkout reviews across the major merchant forums. The most commonly cited issue with the company is sudden account cancellation due to the merchant’s business type being prohibited by 2Checkout’s terms of use. Other issues include fund holds, software issues, and poor customer support. 2Checkout probably shouldn’t be held 100% at fault for instances where high-risk merchants opened accounts without reading the company’s terms of use, and the company’s overall complaint total is in fact lower than might be expected for an organization of its size.
Legal actions and lawsuits
There are no outstanding or recently resolved legal actions related to 2Checkout at this time.
Have you used 2Checkout for your business? Rate the company at the top of this post and tell us about your experience in the comment section below:
They basically say that they can close any account whenever they want, for no reason whatsoever:
“Thank you for your response. We can certainly understand your disappointment at the closure of your account. Please know there are many factors taken into consideration when an account is closed. Any one of these factors may, in and of itself and at our sole discretion, warrant the closure of an account. We sincerely apologize for any disruption this may cause you or your business.”