Paypal vs. PowerPay vs. 2CO vs. Moneybookers
Although e-commerce is a relatively straightforward process, working out all the essentials isn’t always the easiest thing to do. You know that you want to sell products and services, but are not quite sure about what method to use to facilitate transactions. One of the most common roads to take is a merchant account. Because this method isn’t suited for everyone, there are a number of alternatives that make viable options. This article will overview four of the most popular online payment services – PayPal, PowerPay, 2CO and Moneybookers.
PayPal is the most known and widely used online payment service in the world. The fact that the service is so popular makes it a great choice for securely selling your products. Almost everyone recognizes and trusts the PayPal logo. This service allows your customers to easily make purchases without sharing sensitive financial information, proving the flexibility to pay with credit cards, bank accounts or account balances. PayPal gives you global reach as the service is available in nearly 200 markets and 20 currencies across the world.
In comparison to many other services, PowerPay America has a huge advantage. This is because the company supplies both merchant accounts as well as eCheck.Net, a service that is quite similar to PayPal. This solution is integrated with Authorize.Net, offering a fully integrated payment method that allows you to accept and process payments in various ways. For example, you can accept electronic checks directly from corporate accounts or through the Authorize.Net virtual gateway. PowerPay’s eCheck.Net solution has lower transaction fees than PayPal and allows you to expand your payment options to new and existing customers.
As one of PayPal’s main rivals, 2Checkout or 2CO, provides a reliable payment method for more than 1.6 million products and services throughout the world. The service is quite unique as 2CO acts as a reseller. Simply enter your products and services into the database, add button or links and they are automatically generated and ready to incorporate into your site. When buyers want to make a purchase, 2CO securely handles the transaction and deposits the funds into your account. All you have to do as the supplier is fulfill the order. The biggest downside to this payment service is the one-time setup fee of $49.00.
Recently acquired by Invest Corp Technology Partners, Moneybookers is another service that makes a great alternative to conventional merchant accounts. Available in more than 200 countries, this service is the perfect alternative for the business with a large base of international customers. Moneybookers puts an emphasis on security, requiring identity verification before signup. The service also offers 100% fraud and chargeback protection. The major disadvantage of Moneybookers is that customers are required to pre-fund their accounts before making purchases opposed to instantly paying with a credit card.
As you can see, each of these services has their advantages and disadvantages. All are secure yet have higher transaction fees than the typical merchant account. The good thing is that these payment solutions are easy to integrate into your existing store and can suit your e-commerce needs just fine.