According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- Over 200 countries
- 3.5% + 0.35$, 4.5% + 0.45$ or 6% + 0.60$ per transaction
Currencies:
- All currencies
cryptocurrencies:
- No
Our Evaluation of 2Checkout
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Brief Look at 2Checkout
2Checkout.com (Verifone) is one of the top e-commerce systems in the global market. Initially developed for the software, Saas and online service providers, the platform has grown into a universal solution for global online sales. It allows online stores and services to accept electronic payments in all currencies of the world without regional restrictions. In addition to its proprietary payment system, the platform offers a slew of features for automation of accounting, reporting and taxation. It also offers integrated plugins to increase conversion rate and work with clients. Many experts position this solution as the most progressive and beneficial for online business owners.
- It is a universal platform suitable for any business regardless of how it is realized.
- The system allows you to accept online payments in all currencies from the residents of over 200 countries.
- All transactions within the platform and on the interbank market are performed as quickly as it is technically possible.
- Fixed price of a transaction fee; there are no additional payments; all features are immediately available.
- The platform offers three plans to choose from with an option to automate the existing backend.
- The platform is easily integrated with active solutions, including CRM systems.
- Intelligent tools allow you to automate the vast majority of business processes.
- On the 2MONETIZE plan, the fee for each accepted transfer is 6% + 0.60$, which is higher than average in the market.
- The platform targets the owners of digital business (online sales); it does not offer anything to individuals.
- The system allows you to work with localized payment options (for example Boleto Bancario and Kombini), but the fees for them are higher.
TU Expert Advice
Financial expert and analyst at Traders Union
2Checkout.com was established in 2006, and at the moment it services over 20,000 regular corporate clients from 180 countries. It is a platform for accepting electronic payments with features for automation of business processes of all levels – from aggregation of sales statistics with formation of standard reports to organization of complex hierarchy structures of users in the services with subscription.
2Checkout (Verifone) Review shows that many users believe that the possibility to improve sales conversion rate through a specialized functionality is the conceptual advantage of this system. For example, there are several built-in services for analysis of user actions with an intellectual system of recommendations, which, according to our tests, works perfectly regardless of the specifics of the business.
The other important advantage of the platform is that it has ready-made technology stacks for different situations. For example, there is a big difference between an online store and an online movie theater, where a user gains access by subscription. 2Checkout offers comprehensive solutions for both platforms. This means that a business owner will only need to scale the system; he will not have to spend time adapting and deep customizing it.
2Checkout (Verifone) offers three plans; the price for the first two is average or lower than average in the market. The third plan (2MONETIZE) is rather expensive (only transaction fee, no subscription fee). However, that’s a relative statement, as the plan includes unique solutions for automation of the tax reporting in compliance with the laws of the country where the business is registered.
The platform can undertake the lion’s share of the backend; allows you to manage any number of accounts in the app. This is only a fraction of the features available in the 2MONETIZE plan. Based on the sum of factors, the TU’s team definitely recommends this platform for cooperation.
2Checkout Summary
Via 2Checkout's secure website. Your capital is at risk.
| 💼 Main types of accounts: | One account type, functionality depends on the plan |
|---|---|
| 💱 Multi-currency account: | Yes, all currencies |
| Deposit terms and conditions: | 45 main plus local |
| Loan terms and conditions: | Transaction fee |
| ☂ Deposit insurance: | 3.5% + 0.35$, 4.5% + 0.45$ or 6% + 0.60$ per transaction |
| 👛️ Savings options: | Automation of accounting, reporting, taxation |
| Types of payment: | Electronic payments and transfers (for example PayPal), Visa/Mastercard cards |
| ➕ Additional features: | Plugins for improvement of conversion rate |
All 2Checkout (Verifone) Reviews mention the high level of adaptability of the platform. The available features depend on the plan, but we will discuss the plans later on, only noting that all stacks and plugins offered at the level of a specific plan are available fully and right away. This means that a business owner does not need to pay extra for anything. Technical experts of the company contact technical experts of the platform and integrate the system in the shortest possible time. Based on the reviews and open statistics, 2Checkout integrates with all systems regardless of the technology stack implemented in it.
Whether it’s a gaming cloud service, a website of a marketplace or a corporate portal of a chain of private clinics, the 2Checkout platform works in any situation. In the very least, it is a stable and reliable system that allows you to accept payments from Visa and Mastercard debit and credit cards, PayPal payment system and others. The platform works with more than 45 standard payment methods and the local methods. If you have an issue, you can request technical support to integrate an additional plugin for supporting the required system. The service always works together with the clients and tries to solve any issue.
An important feature of 2Checkout (Verifone) is the functionality for improving the conversion rate. For example, templates can be used to compose standard letter chains for mailing with automated analysis of the results and the formation of a database of active subscribers. Or you can connect end-to-end statistics, aggregating data from all communication channels to identify the most effective ones. All these features are provided free of charge within the selected plan. They are also available on the 2SELL plan, which is the standard plan for the sale of physical goods in online stores.
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2Checkout Commissions & Fees
The 2Checkout (Verifone) Review above clearly shows that several factors provide for the versatility of the platform: colossal diversity of the starting technology stack, a large number of additional plugins, full scalability and unprecedented adaptability. As for the commissions and fees, although sometimes users see them as a drawback of the platform, experts agree that it is actually its advantage.
The platform offers three plans; the fee on each plan is charged only for performed payment (paid invoice). There are no additional fees. The client uses all features on the plan for free; any additional plugins can be connected if necessary without additional payment.
The only nuance is that the basic set of features is determined by the plan. For example, it is better for an online store to use the 2SELL plan, while a podcast website with a subscription will need the 2SUBSCRIBE plan. If you are a digital distribution provider, 2MONETIZE plan is the most suitable one for you. Therefore, before installing the system, carefully study the options offered within each plan and select the one that will suit you the best.
The Traders Union also compared 2Checkout’s fees with similar types of fees on other e-payment systems.
| FastSpring | Skrill | 2Checkout | |
| Payment commission | 5.9% + $0.95 | Depend on the transaction type and region | 3.5% + 0.35$, 4.5% + 0.45$ or 6% + 0.60$ per transaction |
| Deposit commission | 2% (max $20) | Depend on the transaction type and region | Depending on the payment method |
| Withdrawal commission | $5 | Depend on the transaction type and region | Depending on the payment method |
| Commission for international transfers | 8.9% | Depend on the transaction type and region | Depending on the payment method |
Now that we have an idea of “What is 2Checkout”, we can make a general conclusion. This platform is not used only as a payment acceptance system, as it offers much wider opportunities. For example, it allows you to automate personnel management and tax payments. In the majority of cases, this indeed makes the life of a business owner easier. You will have to spend time to scale and adapt the solution, but taking into account that the platform is flexible and intuitive, this won’t be too hard regardless of the backend of the system.
Investment Options
Responding to the question of “What is 2Checkout?”, a whole list of definitions can be provided, including a payment system, a means of online business automation, and a comprehensive solution for aggregation of financial flows of an organization. Regardless of the chosen answer, one thing is clear: this company does not offer its clients investment solutions and possibilities for growing capital; this company simply has a different profile.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Contacts
| Foundation date | 1999 |
|---|---|
| Regulation | GDPR, PCI DSS, PSD2, BBB, SSAE 18 |
| Official site | https://www.2checkout.com/ |
Comparison of 2Checkout with other e-payment systems
| 2Checkout | Volet.com | Payeer | Skrill | TransferGo | Square | |
| Supported Countries | Over 200 countries | 150 countries | 127 countries | 200 countries | 64 countries | Most countries (including 8 countries for hardware solutions) |
| Supported Currencies | All currencies | 9 currencies (USD, EUR, GBP, RUB, BRL, TRY, UAH, KZT, VND) | 3 fiat currencies (USD, EUR, and RUB) and most cryptocurrencies | 40 currencies | Most currencies | All currencies (for hardware solutions, when paying offline, only the currency of the country where the solution is registered) |
| Support for cryptocurrencies | No | Yes | Yes | Yes (deposit) | Yes | No |
| Subscription fee | 3.5% + 0.35$, 4.5% + 0.45$ or 6% + 0.60$ per transaction | No, only transaction fees | No, transaction fees only | No, only transaction fees | Individual | 2.9% + 30 cents for accounts |
| Payment acceptance equipment | No, only online | No, only software | No, online only | No, only online | 0-0.99 euros | Yes, own devices |
User Satisfaction i