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Which Payment Processor Should I Use?

Discussion in 'Business & Tax Advice' started by hannspree, Feb 8, 2011.

  1. hannspree

    hannspree Registered Member

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    Occupation:
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    I want to sell digital product and had list of payment processor I want to use.

    The candidates:

    PayPal:
    A lot of people use it, but account can easily be limited. Approximate 10% of total sales will be either held or reversed.

    Plimus:
    Accept PayPal and Moneybookers, but sucks big time. A lot of orders won't be verified.

    Moneybookers:
    Accept more countries than PayPal, but not a lot of people use it.

    eJunkie:
    Basically redirecting to PayPal.

    Liberty Reserve:
    Only digital currency and the exchange process seems confusing.

    Any suggestion what I should use?

    Thanks in advance.
     
  2. Markbh

    Markbh Regular Member

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    What do you need it for? What kind of turnover are you expecting? Where are you located?

    Paypal gives you the best coverage for sure, short of maybe an actual merchant account. If you do not keep much in their account, but draw it into your back account VERY regularly, you do not risk much.

    Plimus' support side is sometimes slow, expect to hang on their phones for 1-3 x 10minutes before someone picks up. But once they do, they act fast and solve the issues. But they are overly thorough in verifiying and order (making it very slow) sometimes.

    Start with PayPal (easy to start) and then look for a parallel solution on the go.
     
  3. Jorod

    Jorod BANNED BANNED

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    Paypal sucks, chargebacks are a nightmare. Looking into Plimus myself.
     
  4. AdisLCS

    AdisLCS Power Member

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    it depends what you will sell obviously. paypal will give u higher conversions but if anything shady, forget it.

    Plimus also uses PayPal, Check, Instant Online Bank transfer and MoneyBookers. Been using Plimus for some "grey " stuff and survived.

    Payouts suck as you can't withdraw money but wait a month for payout. I and others had hard time with ach. checks are fine.

    another one to look at might be Alertpay.

    good luck
     
  5. PaymentMaven

    PaymentMaven Newbie

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    What country do you live in?
    Where is your company incorporated?
    What type of products?
    Drop ship? Or do you ship?
    What is the price per product?
    What is your expected sales amount per month for first 6 months?
     
  6. mazgalici

    mazgalici Supreme Member

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    Do you think that people will make account on a payment processor just to pay you :p?
    You should go with the most popular one - Paypal
     
  7. Warrior 66

    Warrior 66 Jr. VIP Jr. VIP

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    It basically depends on your need ,
    Paypal is best for this type of business .
     
  8. VIC SEO

    VIC SEO Elite Member

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    i only trust on paypal not any other
     
  9. ScrapeBoss

    ScrapeBoss Elite Member Premium Member

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    If you really want to do business, go with paypal. Many buyers would also already have paypal and have confidence in it. Most people don't know about others and would be afraid to make purchase through them.
     
  10. SionAndes

    SionAndes Junior Member

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    Why not you have listed 2checkout Payment as the candidate ? it's great even erase plimus from your priority list and replace it with 2checkout. I have already applied for 2checkout account yesterday for digital selling product/service.

    To apply for 2CO account you must have a live website to show them your services, which you're going to sell or offer. this is compulsory to get accepted by 2CO.