What is 2Checkout? 2Checkout Review, Features

2Checkout is a digital commerce and payments provider that helps companies sell their products and services through multiple channels, acquire customers across multiple touchpoints, increase customer and revenue retention, leverage smarter payment options and subscription billing models, and maximize sales conversions.

About 2Checkout

• Founded in 1999 and headquartered in the United States, 2Checkout has corporate clients all over the world, supports 87 currencies and covers more than 200 countries, and provides customers with a series of services such as international wire transfers, mailed checks, debit cards, etc. 2Checkout cooperates with credit cards including Visa, MasterCard, Discover, American Express, Diners, JCB, etc.

• 2Checkout is equivalent to domestic online banking, Shouxin Payment, IPAY, etc. 2Checkout connects directly with banks without registration.

• 2Checkout announced at the end of August 2018 that Apple Pay can be used for payments in iOS applications, watchOS applications, and Safari websites through 2Checkout. 2Checkout will provide Apple Pay payments to all accounts on the Avangate monetization platform in 20 countries including the United States, Canada, Australia, China, and Brazil, without charging any additional fees. 2Checkout CRO Erich Litch said that 2Checkout's goal is to provide seamless payments for merchants and their customers and make it device agnostic.

Advantages of 2Checkout payment channel

1. 2Checkout provides services similar to PayPal and Stripe, but 2Checkout does not require merchants' customers to register 2Checkout accounts. Instead, it only allows customers to pay with credit or debit cards, which is equivalent to domestic online banking.

2. 2Checkout can support 8 different payment methods, 15 languages ​​and more than 100 currencies.

3. Last but not least, the shopping cart abandonment rate of Shopify stores that have installed the 2Checkout payment channel is lower than that of their competitors.

How to register 2Checkout

The information required for a mainland company to activate 2Checkout: company tax number (if the three certificates are combined into one, provide a unified social credit code), business license start date, and the front and back of the corporate legal representative’s ID card.

Registering 2Checkout is divided into four parts, they are:

Create Account Create an account;

Add business Local to add the company's address;

Add business info Add company information;

Add ower info Add account holder's information.

2Checkout Fees

2Checkout's handling fee is relatively high compared to other online payment companies abroad, with a handling fee of 3.9% and a transaction fee of $0.45 per transaction. For example, for a $10 transaction, they will first deduct $0.45 from you, and then deduct 3.9% of the total transaction, and the two parts will be added together as a handling fee.

2Checkout withdrawal method

2Checkout has many ways to withdraw money. If you are from Europe or the United States, it is very convenient to withdraw money. But for Chinese people, they only have 3 ways:

One is international wire transfer, and the other is mailing a check. The security and speed of these two methods are definitely very poor. Another method is to apply for a Payoneer card. This card is equivalent to a card used by Americans, which is a Mastercard. This card is equivalent to a domestic debit card.

Difference between 2Checkout and Paypal

2Checkout is equivalent to online banking, Shouxin Pay, IPAY, etc. in China. Paypal is equivalent to Alipay, Kuaiqian, etc. in China. The difference is that the former is directly linked to the bank without registering a user name, while the latter recommends or restricts users who must register with them to use the online payment function.