2checkout

John Scott · Share | #1 (**permalink**) 02-23-2005, 11:52 AM

Anybody use these clowns?

Stitchy626 · #2 (**permalink**) 02-23-2005, 12:04 PM

Quote:

Originally Posted by JohnScott

Anybody use these clowns?

lol... You are funny

docquesting · #3 (**permalink**) 02-23-2005, 12:19 PM

Yes and I love em except for the higher transaction fees. But if you have a small site starting out it could be the key to keeping expences down. That way you can always build up to where you might need a regular transaction company.

greg · #4 (**permalink**) 02-23-2005, 12:44 PM

that is the company that has been sort of screwing you over isn't it john?

anyone notice paypal has gone to letting you just use credit cards without having to sign up for an account, big improvement in their process.

Rivux · #5 (**permalink**) 02-23-2005, 12:44 PM

Im using them right now, their interface sucks ass but other then that Im a fan.

John Scott · #6 (**permalink**) 02-23-2005, 12:44 PM

It just made me laugh today when I talked to them and asked when they were going to start releasing funds to my bank account. They said "after we verify your account", and it's supposedly going to happen some time soon. When I asked, "Months, days or years?" They replied that it could be a while because they have a lot of un-verified accounts. "May, at the latest." It just cracks me up, because in the mean time they are still processing orders and holding thousands of dollars of mine. I wonder how long it took these clowns to figure out that they could make a killing by holding people's money and investing it while they drag their feet in their "verification process".

John Scott · #7 (**permalink**) 02-23-2005, 12:49 PM

Quote:

Originally Posted by greg

that is the company that has been sort of screwing you over isn't it john?

anyone notice paypal has gone to letting you just use credit cards without having to sign up for an account, big improvement in their process.

PayPal also sucks. They froze one of my accounts, pulled a ton of cash out of our main business bank account, and said they need to hold the money for 90 days. I asked why, and they said that in "high volume accounts" they randomly do credit checks, and since I had 5 parking tickets on my credit report the underwriters determined that my account was at risk for charge-backs. I guess the underwriters also told them to pull thousands of dollars out of my account, too.

docquesting · #8 (**permalink**) 02-23-2005, 12:50 PM

I have never had any prblms might be becuase was small amounts. Geez the Gov might wanna know about this.

Are you signed on with there money market? If so I would cancle as I did.

Thermit · #9 (**permalink**) 02-23-2005, 12:53 PM

Oh man, that sux.

My experience with 2C is from my old hosting company (a different set of clowns) who used this payment service. I wasn't impressed with the system, never could reconcile payment emails with the services, although that's a different issue.

I was wondering what percentage of customers choose 2Checkout over PayPal at your directories, John?

If I recall correctly you started with just PayPal? Did you get any noticable bump from providing the alternate option?

I've got a merchant account, but might be a pain for me to integrate with my dir, so I'm wondering about the potential upsides.

John Scott · #10 (**permalink**) 02-23-2005, 12:56 PM

I'd say that we saw an initial bump in submissions, but not anything huge. Right now for every three PayPal submissions we get one 2CO submission.

greg · #11 (**permalink**) 02-23-2005, 01:00 PM

really john with as high volume as you are you might be better off just running your own service on that. you have to pay a fee to the credit card companies and you would actually have to imput some data most likely, but at least you would have your money right away.

docquesting · #12 (**permalink**) 02-23-2005, 01:01 PM

What you really ought to do is start a merchant account service of your own and sell to webmasters and use it yourself as well.

greg · #13 (**permalink**) 02-23-2005, 01:09 PM

well, that would be a totally different story there doc, something like that would be such a pain in the ass. you would get sued every other week, you would have to have a tech staff of at least 25 to run the thing. just too much work. besides john got out of hosting because it was too much work for little return, this would be even worse.

However credit card processing is not that big of a deal, hell nearly every resturant you go into does their own credit card processing. there are ways of course to automate it better than that, but in high volume situations it is better and more effective.

John Scott · #14 (**permalink**) 02-23-2005, 01:11 PM

Quote:

Originally Posted by docquesting

What you really ought to do is start a merchant account service of your own and sell to webmasters and use it yourself as well.

I have thought about it, but there is so much risk involved. Like, if you ever want to be rich, all you have to do is get a PayPal account, sell non-existent plasma TV's for 30% less than actual retailers sell them for, and pocket a half-million dollars before the **** hits the fan.

Credit card companies don't eat those losses. The merchant account services eat those losses.

docquesting · #15 (**permalink**) 02-23-2005, 01:11 PM

I guess I need to figure out how to run my own so I can avoid monthly fees.

Yikes.

greg · #16 (**permalink**) 02-23-2005, 01:36 PM

you can never avoid fees. with credit card processing you pay per month to each credit card company to process cards. Paypal and 2c both pay this same fee. what they do though is take a certain amount of every transaction. If you are low volume then the service amount taken from one of these companies is cheaper than the processing fees, however once you get a certain volume it gets cheaper to do it directly. either way you are still paying fees, the cheapest way depends on how high of volume you are.

john for instance will process probably 50+ a month and all for significant amounts, so it would likely be cheaper just to pay the credit card processing fees than a certain % of each transaction to paypal

Stitchy626 · #17 (**permalink**) 02-23-2005, 02:00 PM

If you are still doing it yourself you are still going to have to pay about the same amount in transaction fees. Where I work we do our own credit card processing. Really the only difference between having another company doig it and doing it yourself is that you have control over when the card was charged, verified etc.

littleFella · #18 (**permalink**) 02-23-2005, 02:14 PM

over 5% per transaction, plus the $0.50 fee seems like not such a good deal.

I use Moneris and I pay 2.8%. Some people I know pay well 1.1% per transaction through Visa, and $20/mo for MC.

keywordguru · #19 (**permalink**) 02-24-2005, 06:50 AM

I guess that is where the good old fashioned merchant account and its true benefits come into play. With a direct link to your own personal bank account, you call the shots. You also have to deal if the credit card people come knocking.....

notepad · #20 (**permalink**) 02-24-2005, 07:55 AM

We're using 2checkout on a new directory and come to think of it, we haven't received any of our money from sales, period. Payout's set at $10 minimum too ...starting early January.

Besides PayPal, are there ANY reliable 3rd party merchant acct services available?

Anyone ever heard of: http://www.free-merchant.com/

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