UPDATE: 2Checkout was purchased by Verifone in September 2020. However, they are still operating a website and (it appears) products under the 2Checkout brand, and the BBB maintains a separate profile for 2Checkout, so we will maintain this profile for now.
Purchase by Verifone
As mentioned above, 2Checkout was purchased by Verifone in September 2020 for an undisclosed amount. According to a blog post by 2Checkout COO, “Our service offerings are not impacted, and customers do not have to take any action. No service disruptions or billing changes to deal with. Long term, 2Checkout clients will not only benefit from enhanced solutions with stronger capabilities, but also from increased innovation and operational efficiency from leveraging Verifone’s significant presence, market share and experience in global commerce.” VeriFone is located at 88 W Plumeria Dr San Jose, CA 95134, according to their BBB profile.
We will continue to monitor the situation and adjust this review if the new situation changes anything for 2Checkout merchants.
E-Commerce For a Global Market
2Checkout is an electronic payment service (merchant account alternative) founded in 2000 that allows merchants to accept online credit card payments from customers in their home country and abroad. Also called “2CO,” 2Checkout offers similar services to those of PayPal and Stripe. Unlike some of its competitors, however, 2Checkout does not solicit the merchant’s customer to sign up for a 2Checkout account and simply lets the customer pay by using a credit or debit card (among a few other options). 2Checkout was acquired by an e-commerce company called Avangate in April 2017, but the combined organizations will continue operating as 2Checkout going forward. For the purposes of this 2Checkout review, we’ll be focusing on the company’s credit card and debit card processing services.
Is 2Checkout Holding Your Funds Right Now?
Many merchants have had their payments frozen by 2Checkout. If you’re one of them, then you might find these resources helpful:
- How To Make Your Payment Processor Release Your Money
- How to Fight Chargebacks
- Best Merchant Accounts for E-Commerce
2Checkout Payment Processing
2Checkout focuses its service solely on providing international online payment options to small and mid-size businesses and claims to have much lower shopping cart abandonment rates than its competitors. This narrow focus also allows 2Checkout’s services to be more feature-rich and centered on the needs of online sellers. The one feature that lacks with 2Checkout is a virtual terminal, unless your business is a non-profit. Therefore, as a default setting, merchants cannot use 2Checkout to enter credit card information by hand. Merchants who are looking for a highly rated virtual terminal provider will need to contact their 2Checkout account representative. 2Checkout customers can choose from 45 different payment methods, 30+ languages, and over 100 different currencies. 2Checkout also serves merchants in 200 other countries outside of the U.S.
2Checkout Location & Ownership
2Checkout Review Table of Contents
- Costs & Contract: Offers a month-to-month agreement with no early termination fee and…
- Complaints & Service: Has received more than 500 public complaints regarding…
- BBB Rating: 2Checkout (as Verifone) has an “A-” rating and has received 15 complaints and 17 reviews in the last 36 months.
- Sales & Marketing: Does not hire independent sales agents and has not received any complaints about its…