My 2Checkout.com nightmare

[shazim]

buy a dedicated payment gateway

if you have such high voulme transactions why pay 5.5 % discount rate get your own merchant account and get 1.69% discount any way for 49k transaction they need to veify as lot of frauds happen on credit card

 

[Tarak]

if you have such high voulme transactions why pay 5.5 % discount rate get your own merchant account and get 1.69% discount any way for 49k transaction they need to veify as lot of frauds happen on credit card

Well, what is the option if you are not US citizen ? One have to use 3rd party processors like 2CO

 

[ayksolutions]

We have used 2CO in the past and never had any issues with them either. We now use ECHO and they work great as our merchant account and they are great.

I certainly hope that nobody would do so much money through any type of a merchant account. You'd need to do a bank check and wait until the funds have cleared.

If you are overseas, then certainly do a wire-transfer. It may take a bit to get it, but atleast you won't be ripped off.

 

[TheWebMistress]

I had my own problem with 2co recently.
I paid for a hosting account, in my name, with my credit card & they accused me of fraud, cancelled the payment but held the money.
Their support desk was useless & it took so long to sort out I had 2 websites down for half a week.
If paying for anything now I avoid companies with 2co & Paypal gateways. I only pay via Google checkout or Worlpay.

For anyone needing a gateway I have been looking at this one for my business http://www.free-merchant.com/

 

[SnG]

I would stay away with 2co, they have high fee's! I believe its 5.0%+, paypal is around 1.9-2.2%. Your better of purchasing a real merchant account.

 

[matthall28]

Ouch, that really sucks. So far i've had a really good experience with 2CO but i haven't been dealing with payments anywhere near as large as that.

 

[Bikster.com]

Ouch. Sorry about your nightmare - I hope you get your goods back.

However, as what the others have said, 49K on 2CO is not a good idea. I don't think it would be a good idea on PayPal or any other payment proccessing service either, and a bank account transfer would have been the best way to avoid nightmares like this.