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  1. #1
    Member
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    March 10th, 2005
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    Payment Processor similar to 2CO?
    Are there any payment processors similar to 2CO, in that, it is hosted on a 3rd party site, no other accounts are needed (such as a merchant account).

    Iím wondering this because Iím looking at going with 2CO but donít like the 2 week delay in receiving the sales.

    Any help or suggestions are welcome.

  2. #2
    Affiliate Marketer Rogi's Avatar
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    January 18th, 2005
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    Paypal?

    Actually, I was with 2CO for my aussie GPS site but that 2 week delay really is irritating. Sometimes you just don't stock some things and have them drop-shipped. 2CO doesn't work well with that sort of business concept.

    You should consider a merchant account and gateway, etc. Or email 2CO and ask them if they can shorten the 2-week delay to at least 1 week. (they'll do it if you do over 1k sales/week)

  3. #3
    Newbie Dasha's Avatar
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    May 3rd, 2005
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    Apply for a merchant account with Cardservice International (98% approval rate!), and stop paying these extra fees!

    Otherwise, PayPal would be a MUCH BETTER bet that 2CO... At least, from my point of view...

    Dasha

  4. #4
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    Yah, I actually have a paypal account..... but want the site to look more professional, but dont want to spend an arm and a leg for it either.....hehe, I want my cake and eat it too

    Quote Originally Posted by Dasha
    Apply for a merchant account with Cardservice International (98% approval rate!), and stop paying these extra fees!
    I looked into a few merchant providers, but they were either too expensive or I wasnt sure whether they'd be around next month. Are you using them now? How much are their monthly fees? Is there a start-up cost? How long have they been around? I see that they are registered service provider for First Financial Bank, Denver and Wells Fargo Bank. But I know that Wells Fargo is on the steep side ( for me ).

    I heard good things about 2CO on the boards, so I was looking into them. But found out about the 2 week delay.

  5. #5
    Affiliate Manager dculpepper's Avatar
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    We used 2CO for a while. It's a decent solution when you are starting out but just giving away over 2% of every sale that you make is a major drain. We also saw a huge decrease in the number of abandoned carts after we switched to our own merchant account. I guess shoppers just didn't like being transported over to 2CO to enter their payment info... that reason alone is enough to justify your own merchant account.

    Dave

  6. #6
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    Quote Originally Posted by dculpepper
    ... We also saw a huge decrease in the number of abandoned carts after we switched to our own merchant account. ...
    What Payment solution are you using now ??

  7. #7
    Resident Genius and Staunch Capitalist Leader's Avatar
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    I guess shoppers just didn't like being transported over to 2CO to enter their payment info... that reason alone is enough to justify your own merchant account
    I know I hate it when I find myself on some other site when it comes time to enter my CC info. I'm always concerned that it's either a 2-bit operation or a phishing expedition. Even now, if I don't recognize the cart as being one of the common 3rd-party payment solutions, I am tempted to back out...and sometimes I do.

    Reading how easy it'd be to misuse a feed and hook it into a fake backend doesn't raise my confidence level either. Thanks Ecom Mike for giving me such "calming" thoughts that pop up when I shop at little online stores who just didn't fork up for a real merchant account. Now instead of imagining some 8-yr-old kid in his garage I get to imagine drooling Russian Mafia goons yelling "we got another!" if I hit that Confirm button
    There is no knowledge that is not power. ~Hemingway

  8. #8
    Affiliate Manager dculpepper's Avatar
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    Quote Originally Posted by Kend
    What Payment solution are you using now ??
    We got our merchant account through e-onlindata.com and use the authorize.net payment gateway.


    Dave

  9. #9
    Affiliate Manager dculpepper's Avatar
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    Quote Originally Posted by Leader
    I know I hate it when I find myself on some other site when it comes time to enter my CC info. I'm always concerned that it's either a 2-bit operation or a phishing expedition. Even now, if I don't recognize the cart as being one of the common 3rd-party payment solutions, I am tempted to back out...and sometimes I do.
    I knew that there would be people that feel that way and with all of the scams that are out there I can certainly understand why. I was sure that it was costing us few sales but after switching I was shocked at the difference having a merchant account made. Over the last two months, our pecentage of abandoned carts has dropped from nearly 40% to less than 10% and that means a lot more money in our pockets.

    We have also made some other improvements... we've streamlined the checkout process a bit and are taking advantage of some upselling opportunities that we used to ignore but I can't help but think that having an integrated payment solution has been the major factor.

    I wonder if other people have had the same experience....


    Dave

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