BankTech

2Checkout closed $60 Million in Funding Round led by Trident Capital and Chicago Growth Partners

On 24th April 2014, payment service provider 2Checkout announced that it had brought in its final piece of its $60 Mn funding round which was led by Trident Capital and Chicago Growth Partners. There was additional participation from undisclosed investors. The company plans to use the funds for global expansion.

2Checkout maximizes online sales conversions by giving global buyers localized payment options. Over 50,000 merchants are linked to the company. 2Checkout supports transactions in 196 countries through 8 payment methods, 26 currencies, and 15 languages. E-service includes a merchant account, a pre-integrated payment gateway, international fraud prevention, PCI compliance, and plug-ins for 100 popular carts.

This video gives you an overview of 2Checkout:

“The global e-commerce market is massive and continues to increase at a double-digit rate of annual growth. Online payments are a critical component of e-commerce and the providers in the space are consolidating into a few global platforms. 2Checkout will emerge as one of the global leaders in payments,” said managing partner at Chicago Growth Partners, Devin Mathews in a statement. “Now is the perfect time to help scale 2Checkout to the next level,” he added.

Some features of their platform:

  • 2Checkout’s Direct and Dynamic Checkout products are designed to make it easy for your customers to buy.
  • Their PCI Level 1 Compliance is the highest level in the industry and protects you and your customers from online threats.
  • The company’s three tiered protection strategy uses over 300 variables to identify fraud.
  • Checkout Mobile allows you to monitor your account details and manage your online business on the go. Stay up-to-date on sales, payments and stay close to your customers.

As For Pricing: 5.5% plus 45 cents per transaction. In case you process over $50k every month, you can contact 2Checkout for ‘Volume Pricing’.

“2Checkout already has a global customer footprint and a solid brand reputation among merchant banks, payment networks, online retailers and partners like Brink’s, which is a multi-billion dollar company,” said managing director of Trident Capital, Don Dixon. “No other payments processor can make those claims.”

Chiraag Patel

Chiraag Patel is a Senior Reporting Analyst and the Editor of Bitcoin and Virtual Currency channels at Lets Talk Payments. He is an engineer with deep interest in MMORPG, Virtual Banking, Game Currency and Virtual Cash. Chiraag enjoys Reading& Blogging with focus on New Innovation, Technology & Startups in the Payments Space.

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