This 2Checkout (Verifone) Review gives you the good, bad, and ugly about whether this is the correct payment processor for your needs.
Checkout is a payment processing company that provides online merchants a platform to accept payments from across 200 countries and territories globally. It offers over 45 payment options, including debit or credit cards, PayPal, and local and offline payment methods.
Who Should Use 2Checkout.com
Company Overview
New or existing online businesses looking to adopt a payment processing service that supports international transactions, cart integration, and subscription billing should use 2Checkout.
2Checkout (also now VeriFone) was founded in 2006 by Romanian entrepreneurs, who had also created the RAV anti-virus before Microsoft acquired it. After its establishment, 2Checkout was merged with Avangate in 2017 and then acquired by Verifone in 2020.
With 2Checkout.com, users can accept multiple payment methods, customize checkout options, ensure secure transactions and prevent fraud, integrate more than 120 shopping carts, manage global taxes, and subscribe to a billing option.
Typically, the service is used by large enterprises, mid-sized businesses, and small businesses.
For New Users
2Checkout’s mobile and language support features and user-friendly interface make it a great option for new users. Business owners and customers using the service for the first time will find it easy to navigate.
In addition, the service offers a free trial for new users, allowing you to test it and evaluate its benefits for your business before committing to it.
Biggest Drawback
2Checkout’s biggest drawback is its high processing fee. Compared to its competitors, the service fee charged per transaction is higher. The lowest plan charges about 3.5% + $0.35 per transaction, higher than the standard rate of 2.9% + $0.30 across other popular online processors.
Which Countries Are Supported?
2Checkout’s payment gateway actively supports merchants and customers in almost every country worldwide. However, it currently excludes Cuba, Iran, Sudan, Syria, Myanmar, and North Korea due to safety concerns, political instability, economic regulations, or lack of resources.
2Checkout regularly updates its list of supported countries, offering the potential for these nations to be included in the future.
What Makes 2Checkout a Good Choice?
Multiple Payment Options
2Checkout offers over 45 payment options for merchants and customers. These payment options include debit or credit cards, PayPal, and local and offline payment methods.
The service accepts payments from major cards, including MasterCard, Visa, American Express, JCB, and Discover. It also supports a few exclusive cards in select countries, such as the Elo cards in Brazil and the Bonus cards in Türkiye.
It also accepts payments from several local payment services that are popular in some countries. These include iDeal in the Netherlands, WeChat Pay in China, and Giropay in Germany.
In addition, 2Checkout supports various offline payment methods such as wire, checks, and purchase orders, although these are only available in certain countries. Click [Search for your target country] on 2Checkout’s payment information page to check the available payment options in your target countries.
Mobile Compatibility
2Checkout has a mobile app for iOS and Android that allows users to monitor their accounts and actively manage their businesses. The app includes features that allow users to track sales, issue refunds, and check payments. It also allows for easy access to live data on sales, orders, and invoices.
Furthermore, the 2Checkout app allows users to receive push notifications for chargebacks and fraud alerts and offers easy access to contact customer service.
Multi-Language Features
2Checkout offers users several language support features, ensuring that its users can sell their products across international markets. These features include localized checkout, multi-language support, and language detection.
With its localized checkout feature, customers can place orders in their local languages. It offers about 33 languages. Users can, however, override this feature, allowing them to choose a different language. Its customer service is also offered in several languages.
Secured Transactions
One of 2Checkout’s most appealing features is its safe and secure payment process. In addition to attaining several security certifications and accreditations, the service is equipped with fraud protection tools and two-factor authentication security.
It has attained PCI DSS compliance, the highest certification for cardholder protection. The service also complies with PSD2 and GDPR, which ensures strong customer protection for online credit card payments and data privacy.
2Checkout uses artificial intelligence and reviews to identify fraud. It also defends its system using a multi-tier strategy of customized algorithms resembling fraud scenarios. Some fraud detection methods the payment processing service uses include validation services, proprietary data, negative customer information, and customer authentication.
Sales Monitoring and Reporting Feature
Another attractive feature of 2Checkout for merchants is its ability to monitor and report sales. The UI offers a control dashboard on the 2Checkout merchant account homepage with various vital business metrics, including total sales, account balance, refunds, and chargeback rates.
In addition, the UI offers a reporting and analytics section that offers insights into sales trends and customer behavior. This allows sellers to assess their business performance, compare business units, and identify areas for improvement.
Dedicated Customer Support Team
2Checkout provides merchants and shoppers with easy access to their customer support team. Merchants who require help setting up or managing their accounts are provided with support using a ticketing system or by speaking to an agent via chat or phone for further assistance.
Shoppers who have purchased products or services from 2Checkout-powered websites can also contact the 2Checkout shopper support team via their email, chat, or phone support portal. They may also find answers to their questions in the knowledge center or FAQs on the website.
In addition, 2Checkout offers help to web developers looking to integrate the service into another e-commerce site.
Customer Self-Service Portal
2Checkout has a customer self-service portal called ‘myAccount’ designed to help customers using 2Checkout-powered websites to manage orders, products, and payment information.
In addition, customers can access their order history, payment methods, subscription status, and payment methods. It also allows customers to renew their subscriptions and track their orders.
How to Set up a 2Checkout.com Account
Follow this step-by-step guide to kick-start your journey with 2Checkout.com:
More details
2Checkout is a global payment processor supporting transactions from over 200 countries. Its key features include shopping cart integration, customizable interfaces, and secure transactions. However, it charges a processing fee of 3.5% plus $0.35 to 6% plus $0.65 per sale. Despite these fees, its advantages make it a valuable service
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Multiple Payment Options.
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Mobile Compatibility.
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Sales Monitoring and Reporting Feature.
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Dedicated Customer Support Team.
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Multi-Language Features.
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High Processing Fees.
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Lack of Support for Card.
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Chargeback Fee.
Step 1: Visit the 2Checkout Website
Visit the 2Checkout website and click the [Sign up] button.
The sign-up button is located in the top right-hand corner of the page.
Step 2: Fill Out the Registration Form
Next, fill out the registration form with your personal and business details. Click on [Get Started].
Step 3: Choose your Product Category and Create an Account
Choose the products or services category that best describes your business and how you want taxes and risk compliance handled. Create your account.
Step 4: Log into Your Account
2Checkout will send a link to your registered e-mail address to verify your account details.
Sign into your account using the link and enter your e-mail address and password.
Step 5: Activate your Account
After signing up, you must activate your account before using the service.
To activate your account, go to your account dashboard and click [start activation].
2Checkout.com: Review: Top Features & Perks
Flat-Rate Pricing
2Checkout uses a flat-rate pricing model; it charges a fixed percentage per successful sale, regardless of currency or country. The rate charged is dependent on the plan chosen at sign-up. Users are offered three plans to choose from 2Sell, 2Subscribe, and 2Monetize.
Flat-rate pricing is best for sellers because it is transparent and predictable; you will not have to worry about variable rates or hidden fees. On the other hand, flat-rate pricing is often more expensive, especially for international transactions or low-value sales.
Subscription Billing
With subscription billing, 2Checkout allows e-commerce business owners to manage product subscriptions. The model allows merchants to sell freemium, usage-based, one-time, or recurring billing subscriptions.
2Checkout uses this model to allow merchants to accept payments in several currencies and payment methods. It also helps manage subscription enrollments, renewals, upgrades, pauses, reminders, and expirations.
In addition, 2Checkout’s subscription billing model prevents churn by offering shoppers discounts and flexible pricing based on their segmentation and market. Merchants can also track product and service subscriptions using business data and analytic metrics.
Customized Checkout
2Checkout allows sellers to personalize the interface used by customers during their purchases. Merchants can enhance their customers’ experience with 2Checkout’s ConvertPlus themes, allowing them to design the font, color, field, buttons, panels, and logos.
In addition to improving customers’ experience, customized checkouts can boost sales, conversion rates, customer loyalty, and average order value. You can customize your shoppers’ checkout interface by following these steps:
- From your dashboard on your 2Checkout account, go to [setup].
- Click on [interface template].
- Make a copy of your preferred theme type from the options available. You can pick a design with one or two columns.
- After making a copy of your preferred design, click [customize] to modify its fonts, colors, and buttons.
Shopping Cart Integration
2Checkout allows sellers to connect their online store with 2Checkout’s payment processor to accept customer payments. 2Checkout also collaborates with popular shopping carts and invoicing systems, allowing sellers to choose from over 120 shopping carts to sell their products.
Shopping cart integration enables sellers to use 2Checkout to streamline their operations, manage orders and subscriptions, and benefit from 2Checkout’s fraud detection and security features.
Flexible API
An application programming interface (API) transfers data between systems, allowing companies to share data and functionalities with third parties.
2Checkout’s flexible API gives sellers more control over the customization and control of their online stores and online payments. Sellers utilizing the payment service can ensure their customers have the best experience with 2Checkout. It also helps to improve conversion rates and generally boosts merchants’ competitive advantage over non-2Checkout users.
Online Store Builder
The payment service has an online store builder feature that allows sellers to design their online store interfaces without prior design or coding experience. In addition to allowing sellers to design their online stores, 2Checkout allows them to manage inventory, shipping, orders, and taxes from one dashboard.
Furthermore, the store builder allows sellers to optimize their online store for SEO and mobile device support, increasing traffic to the store.
Global Tax Compliance
With global tax compliance, 2Checkout helps sellers scale up their business without risk. The service handles tax and VAT calculation and remittance in about 200 countries. In addition, it prepares tax reports and invoices to ensure that sellers comply with the local regulations in their countries.
2Checkout.com Review: Products and Services
2Sell
2Sell is 2Checkout’s basic subscription service; it costs 3.5%+$0.35 per successful sale, although sign-up is free. It is the simplest way to sell products globally using the payment gateway.
2Sell allows online vendors to accept customer payments using over 45 payment methods and over 100 currencies. In addition, merchants can sell products or services as subscriptions. The system is equipped with an account status updater that handles recurring billing.
2Sell allows sellers to integrate over 120 carts and access selling instantly in 200 countries and territories.
To sign up for 2Sell, go to the service’s website’s products page, click [2Sell], and then [sign up] to begin.
2Subscribe
2Subscribe is 2Checkout’s intermediate payment plan. Vendors can develop and boost their subscription businesses by offering more benefits than the basic payment plan.
In addition to offering all of the benefits of the 2Sell plan, 2Subscribe also assists with increased customer retention and reduced churn. It offers smart subscription management tools, manages renewals and upgrades, and provides business analytic insights.
2Subscribe costs 4.5% + $0.45 per successful sale, and like 2Sell, users are not charged to sign up. Charges are only incurred after they start selling.
To sign up for 2Subscribe, visit the service’s products page. Click [2Subscribe] and [sign up].
2Monetize
2Monetize is 2Checkout’s third payment plan. It was designed specifically to provide an all-in-one solution for digital commerce stores.
In addition to the benefits of 2Subscribe, 2Monetize optimizes shoppers’ buying experience and assures global tax compliance.
The plan provides vendors with conversion rate optimization services, cart abandonment prevention, and A/B testing. Furthermore, it offers invoices, global VAT, sales tax management, and risk and fraud protection. It costs 6.0% + $0.6 per successful sale.
To sign up for 2Monetize, go to the website’s products page, click [2Monetize], and [sign up].
4Growth
4Growth’s plan supports businesses that require a customized solution with advanced features and dedicated support. The plan charges a customs fee based on the vendor’s specific needs and goals. It also offers 2Monetize features such as channel management, affiliate network, advanced reporting, etc.
Add Ons
Add-ons, as extra services provided by 2Checkout, boost vendors’ businesses. Certain add-ons come with one or more paid subscriptions, targeting the distinctive requirements of vendors.
2Checkout offers 4 add-ons, including:
2Bill
2Bill assists with complex subscription management. Its services are freely offered to users of 2Subscribe and 2Monetize. 2Sell subscribers will, however, have to pay an additional cost for 2Bill.
The add-on offers renewal and notification management, usage billing, subscription enrollment, subscription analysis, multiple billing retries, churn prevention, and access to subscription pause.
To get the 2Bill add-on, click [Products] from the 2Checkout website.
Next, on the products tab, click [add-ons].
The link will open a list of all the 2Checkout add-ons. Click [Get this add-on] under 2Bill and fill in your details.
2Recover
This add-on increases renewal recovery. It is not free with any subscription; thus, it must be paid to be accessed.
2Recover assists with updating expired cards, dispute prevention, advanced authorization, and advanced retry logic. It also provides improved notification functions.
To get the 2Recover add-on, click on [Get this add-on] under 2Recover from the add-ons page. Fill in your details.
2Partner
This service helps to increase channel distribution and automation. It is only available for 2Monetize subscribers, although at an additional cost.
2Partner offers an affiliate platform and a network of 50,000 affiliates. It also offers a partner control panel, channel management, end-to-end order, and fulfillment management, as well as reports to monitor and optimize partner performance.
To get the 2Partner add-on, click [Get this add-on] under the 2Partner tabs from the add-ons page. Fill in your details.
2Service
2Service offers premium services and dedicated support. It is available for all 2Checkout subscriptions at an additional cost.
The add-on offers access to professional services, custom domain set-up, a salesforce connector, a dedicated customer service and customer support team, data portability imports, and a multi-language shopper support call center.
To get the 2Service add-on, click [Get this add-on] under the 2Service tab from the add-ons page. Fill in your details.
Pricing
2Checkout offers a subscription pricing system; the prices depend on the user’s subscriptions and the costs incurred on additional services via add-ons. The following includes the complete pricing plans available on 2Checkout:
- 2Sell: This offers the most basic services on 2Checkout. It charges 3.5% + $0.35 per successful sale.
- 2Subscribe: This is best for vendors looking for a service to prevent churn and other account management tolls. It charges 4.5% + $0.45 per successful sale.
- 2Monetize: This is the best option for digital goods and services with advanced features and support. It charges 6% +$0.6 per successful sale.
- 4Growth: This is the best option for customized business solutions. It charges a customs fee based on the vendor’s specific needs.
2Checkout.com Review: Affiliate Program
2Checkout has a partner referral program that allows vendors to earn extra revenue on the service by referring new customers. They also offer referrers access to marketing materials, business tracking tools, and commission reports.
In addition, vendors earn up to $300 per referral that signs up through their link and starts selling with the gateway. Successful referrers can also help their customers to grow their online businesses.
2Checkout offers three kinds of partner referral programs: enterprise, developer, and standard. Enterprise partners can refer 25+ customers every month, enjoy higher revenue than others, and receive marketing from a dedicated partnership manager.
Alternatively, developer partners can access integration features, including API and hosted checkout. Moreover, these partners receive incremental revenue share, technical support, and documentation resources.
Small businesses, bloggers, and social media influencers engage as standard partners. They receive special referral links or banners that they strategically place on their websites and social profiles. Standard partners can refer to as many or as few partners as possible.
How to Become a Referral Partner
The application process is seamless. To join an affiliate program, visit the 2Checkout website. Click [Partners].
Next, click [Become Our Referral Partner].
Choose from the list which partner referral program is best suited to you.
2Checkout’s Pay-Out System
2Checkout issues pay-outs by transferring funds from merchant’s accounts into their bank accounts or PayPal. This is done weekly or monthly, depending on the vendors’ preferences and banking regulations in their country.
To issue pay-outs, 2Checkout requires that vendors have at least $50 for 2Sell and 2Subscribe customers and $100 for 2Monetize customers in their accounts.
Alternatively, merchants are required to keep their accounts updated with essential financial details to facilitate payout receipt. These details include PayPal or bank account, country of residence, and preferred currency.
Drawbacks of 2Checkout.com
High Processing Fees
Although 2Checkout offers its users several perks, its processing fee is higher than that of other payment processors. On average, credit card transaction fees range from 1.5% to 2.9%. However, 2Checkout’s cheapest subscription charges 3.5% + $0.35 per transaction, making it one of the most expensive payment processing platforms.
In addition, 2Checkout charges cross-border fees, which often vary across different countries. While performing transactions across most countries incurs a 2% cross-border fee, the fee for transactions across high-risk countries is generally higher.
Users who are subscribed to 2Monetize are, however, exempted from paying cross-border fees.
Lack of Support for Card-Present Transactions
2Checkout is best for card-not-present e-commerce transactions as it only accepts payments from a PayPal account or other virtual or absent debit or credit card.
In regular transactions involving a physical card, the cardholder actively dips, taps, or swipes their card on a terminal. These transactions commonly occur during in-person sales, not online sales. Because 2Checkout’s overall design supports only online transactions, it lacks the technology for processing in-person transactions.
As a result, vendors looking for other payment processing companies that support card-present transactions may have to find other options.
Chargeback Fee
2Checkout imposes a chargeback fee on all transactions, depending on your business ratio. A chargeback fee is an amount charged on disputes; it could result from fraud, technical issues, customer dissatisfaction, or vendor error.
If the chargeback fee is less than 1%, the vendor must pay about $15 for every transaction. Alternatively, if the chargeback fee ranges between 1% and 2%, a charge of $20 will be applied; exceeding a chargeback ratio of 2% results in a $45 fee.
Vendors who want to minimize their chargeback ratios must prevent transaction errors. Subscribing to a higher payment plan is another way to prevent losses due to chargeback fees.
Unlike 2Sell, 2Subscribe and 2Monetize offer services that help prevent losses due to chargebacks and help vendors maximize their revenues.
Not Available to High-Risk Merchants
2Checkout’s policy prohibits some high-risk businesses from utilizing its services. Some prohibited businesses include those selling illegal drugs, adult content, and firearms. Online gambling and pyramid scheme websites are also prohibited.
Vendors looking to utilize 2Checkout’s service must first check its prohibited product list to ensure their product or service has not been blocklisted.
2checkout.com Review: Final Verdict
2Checkout is a payment processing company that provides online merchants with a platform to accept payments from across 200 countries and territories globally. The service supports digital goods using a subscription-based model and offers several features, including global tax compliance, risk management, recurring billing, and online store building.
The service charges merchants a transaction fee that ranges from 3.5% + $0.35 to 6% + $0.60 per transaction. It also charges a 1 – 2% chargeback fee and 2 – 3% cross-border fees.
2Checkout works to assist its users with accelerating their market and remains one of the safest payment processing companies available.
2Checkout transfers funds from a vendor's account into their PayPal or bank account. This is done weekly or monthly, depending on the preference chosen by the merchant.
2Checkout is a safe and legitimate payment platform. It has built a reputation as a secure payment service that utilizes security compliance, fraud detection, and a thorough verification process to protect vendors and shoppers.
2Checkout issues pay-0uts weekly or monthly, depending on your settings. However, payments may be delayed for a few days after being imbursed due to banking regulations.
Yes, you can sell physical products using 2Checkout. the service is committed to assisting you with all your business needs. However, to sell physical products, you need to offer some information on the product's description, currency, shipping options, and price.
For a vendor, 2Checkout will process a refund request after a massage has been received by its support team via e-mail or phone. Vendors may be required to leave their order and merchant id numbers before their requests can be handled.
For a shopper, a refund request will be fulfilled in one to five business days, although several conditions must be met for a refund request to be considered valid.
