2Checkout Review

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

Payment Processing

2Checkout specializes in providing international online payment options for small and mid-size businesses. The company claims to have lower shopping cart abandonment rates compared to its competitors. This specialization allows 2Checkout to offer feature-rich services tailored to the needs of online sellers. However, one limitation is the lack of a virtual terminal, except for non-profit businesses, meaning merchants cannot manually enter credit card information by default. Merchants needing a virtual terminal must contact their 2Checkout account representative. The platform supports 45 different payment methods, over 30 languages, and more than 100 currencies, and it serves merchants in 200 countries outside of the U.S.

Evaluating 2Checkout’s Customer Feedback

2Checkout, as a widely used merchant account alternative, faces a moderate volume of complaints, akin to challenges seen with other payment platforms. Many issues stem from misunderstandings about the company’s policies regarding restricted products and services, while others are lodged by customers of 2Checkout merchants, incorrectly targeting 2Checkout instead of the actual sellers. This misdirection underscores the need for clearer communication between 2Checkout, its merchants, and their customers.

Concerns Over Fund-Holds and Account Management

Among legitimate grievances, the most frequent complaints involve fund-holds, account cancellations, and less-than-ideal customer service. These fund-related issues often suggest that the complainants might be better served by a high-risk merchant account rather than 2Checkout’s services. Although strict fraud prevention measures are crucial, there is an evident need for 2Checkout to improve its communication regarding the release of pending payments, especially highlighting the 90-day hold period following account cancellation.

2Checkout’s Approach to Customer Support

The increase in complaints specifically citing poor customer service has impacted 2Checkout’s rating in this area. Despite offering a comprehensive FAQs section, a knowledge center, a 24/7 support ticket system, and limited phone support hours (8 AM to 4:30 PM EST, Monday through Friday), these measures appear insufficient in fully addressing merchant concerns. Enhancements in direct communication and support responsiveness are essential for 2Checkout to be considered among top-rated merchant account providers for customer service.

This updated content aims to provide a balanced overview of 2Checkout, incorporating SEO-optimized key phrases such as “reviews,” “complaints,” “customer service,” and more to assist those researching the company. All provided links have been preserved to ensure readers have direct access to further information and resources.

PaymentPop Rating for 2Checkout

Negative Feedback

2Checkout has held my funds for more than a month, total is almost $24,000. I was not sent an email and when I logged in no explanation was available. After emailing I was told it was because the account info was wrong. When I corrected the info, they replied saying it was the same as before, therefore I needed to upload a statement with SWIFT code and other info that my bank doesn’t put on statements. They are not reading my emails properly and not replying promptly. There is nobody to talk to and no complaints mechanism.

Positive Feedback

There are no positive reviews published about 2Checkout on the PaymentPop website.

2Checkout BBB Rating

2Checkout (as VeriFone) is not BBB accredited and has a C- rating. The business has been operational for 33 years. It has an average customer review rating of 1/5 stars based on 11 customer reviews. There are 20 customer complaints closed in the last 3 years, with 5 complaints closed in the last 12 months. Common themes in the reviews and complaints include issues with products/services and customer service.

Negative Feedback

I got a software program (Leawo Blu-ray ripper) that didn’t work. They promised a partial refund of $15 and said it was processed on March 15. It is now 2 months later and they are saying no that they refunded it again on May 11. Still nothing. I’m a poor college student and I can’t afford to be messing around with stupid companies that don’t want to work with me. – Complaint from May 22, 2023

If there were negative Stars I would go into the negative. 1. They are hard to get hold of. There are several hoops to jump through to even get to their information. I see the creepy hand of a corporate psychologist, (a mostly corrupting and creepy profession), at work devising those hoops through we must jump. 2. Very disappointing. 2checkout auto charged me for an additional (one year subscription) while their own records have a purchase for a two year subscription for the same product started six months ago. * No courtesy note:*We noticed that you are scheduled to purchase a product again which you already own. As our courtesy, to you, we want to ask if you intend to purchase a subscription again while you currently own the same product. That language was nowhere to be found anywhere. – Review from November 23, 2023

Positive Feedback

There are no positive reviews published about VeriFone, Inc. on the BBB website.
Source: BBB

Trustpilot Rating Analysis for 2Checkout

2Checkout (now Verifone), an e-Commerce solution provider, has a “Poor” rating on Trustpilot with a score of 2.6 out of 5, based on 2,242 reviews. The company has responded to 99% of negative reviews, usually within 2 days. The reviews reveal a mix of sentiments, with 43% 5-star and 42% 1-star ratings. Common themes in the reviews include issues with payment processing, particularly the inability to accept Visa and MasterCard directly, leading to decreased sales and customer dissatisfaction. Customers also express concerns about the complexity of the account opening process and the level of customer support.

Negative Feedback

Everything is good at 2checkout but they stop accepting Visa and MasterCard !! . After that my sales decreased about 50% Because customers need open account at paypal. One more What a joke they have card options in shopping cart by default but not accepting Visa and MasterCard. – Review from January 8, 2023

Our customer can not pay by VIsa or Mastercard. They have to go through PayPal. Many customer abandon shopping cart because they do not have PayPal account, not knowing they can pay with their Visa or Mastercard through PayPal as guest. – Review from December 5, 2023

Positive Feedback

Since a lot of years we use the service of Avangate, 2Checkout, Verifone. Always very professional, good support, no errors. – Review from December 5, 2023

Quite good experience with this company for a business who accept Paypal & credit card. – Review from December 5, 2023

Source: Trustpilot

Sitejabber Rating Analysis for 2Checkout

2Checkout (now Verifone) has a consumer rating of 2.0 stars on Sitejabber, based on 138 reviews. This rating indicates general dissatisfaction among customers. Common complaints include issues with customer service and credit card processing. Positive feedback is less frequent, but some customers have noted satisfactory experiences with refunds and customer support.

Negative Feedback

Avoid this service at all costs. They will charge you renewal fees long after you cancel your subscriptions. I have been trying for weeks to get a refund for a product that I canceled renewals about 1 year ago. They do not respond to emails and they have no customer service help. I had to contact my credit card to ask that the transaction be tracked as a fraud charge. – Review from Klaus B., July 20th, 2023

Customer Support is unresponsive, Python APIs are outdated. The support team does not respond in a timely manner. In addition, it only uses automated responses and does not attend to problems in a personalized way. They decided not to approve my business, even if uploaded every single document they asked for. They didn’t gave me a detailed answer to address the issue, they just cancel my account and sent me autogenerated email. So I waste development time and money. If you are developing on Python be prepared to downgrade the version of your software since the API is old and outdated. – Review from Juan O., April 2nd, 2022

Positive Feedback

I use it for over 10 years, since 2009. Back then they were called Avangate. The service is great, I highly recommend 2Checkout. – Review from Dmitriy K., August 25th, 2021

Sometimes the payout gets delayed even though the payment was done within the reporting period, often there have been cases when they said that they would pay me on a date, but then pushed it back by a week. Nothing too extreme but frustrating nonetheless. – Review from Mahfuz I., November 9th, 2023

Source: Sitejabber

Straightforward Pricing

2Checkout’s pricing and fees are fairly simple. Since the time of our last update, however, the company has altered its pricing page and no longer differs its rates dependent on country. 2Checkout now simply offers three plans: “2Sell,” which charges 3.5% plus $0.35 per successful sale, the “2Subscribe” plan, which charges 4.5% plus $0.45 per successful sale and includes all “2Sell” benefits, and the “2Monetize” plan, which is marketed as an “all in one solution to sell digital goods globally,” costs 6% plus $0.60 per successful sale, and includes all benefits of the “2Subscribe” level. 2Checkout states that transaction fees for its services are now the same worldwide. 2Checkout does prohibit subscribers whose chargebacks exceed 1% of their monthly transactions. Accounts with frequent chargebacks should seek a provider offering services to high-risk merchants. The company also provides custom pricing for its “Enterprise” plan.

2Checkout Fee Increase Policy

Previously, the company’s terms of use mentioned that 2Checkout may, at its sole discretion, charge a higher transaction fee than the one advertised “if we determine that the sale of Products create a potential or actual financial or reputational risk to us, such as those in the Restricted Products List.” It is unknown how the company calculates or enforces this potential rate increase, but there are not many merchant complaints about it at this time.

A Low-Commitment Option

It is important to note that even though 2Checkout’s processing fee is somewhat high, 2Checkout offers several valuable services that are easy to use, and the company has no cancellation fees. This makes it a low-risk option for companies that need to process offshore payments. We also encourage merchants to check out our list of the providers of the best merchant accounts.

Other Services Come With Their Own Fees

There are a few other fees that the company may charge in circumstances unrelated to its credit card processing service. Merchants wishing to accept electronic checks and other forms of payment will want to inquire about these associated fees.

2Checkout is currently implicated in a 2021 class-action lawsuit concerning allegations of enrolling consumers into automatic payments without clear notification. This case emphasizes the importance of transparency in merchant services. Merchants dissatisfied with 2Checkout’s practices are encouraged to seek resolution through non-litigious means by reporting their experiences to appropriate regulatory bodies.

Full Disclosure

2Checkout does not appear to use any misleading sales tactics or marketing in its official materials. The service is primarily marketed online through advertising and affiliates. All pricing is clearly displayed without hiding any processing fees or rate tiers, and there are no online complaints filed here or elsewhere that describe issues with the company’s sales staff. This level of transparency is a main reason why 2CO is such a strong competitor to PayPal. We have accordingly assigned the company an “A” rating in this category.

This compares favorably to our list ofbest credit card processors.

2Checkout provides a streamlined electronic payment solution that caters effectively to online payments and e-commerce transactions, making it a popular choice among global merchants. The platform is particularly appreciated for its ease of use and consistently garners positive customer feedback, positioning it favorably among international payment processors. However, merchants are advised to familiarize themselves with 2Checkout’s specific policies and procedures to prevent any potential issues, especially those pertaining to the types of businesses and transactions that are permitted.

While 2Checkout’s processing fees are noted to be slightly above the industry average, the additional cost is justified by the comprehensive, feature-rich services it offers, which can be tailored to meet the diverse needs of most online retailers. Furthermore, 2Checkout stands out as one of the top multi-currency merchant account providers and is highly recommended for businesses seeking integration capabilities with accounting software like FreshBooks, enhancing its appeal to a wide range of e-commerce businesses.