In the world of e-commerce, payment gateway solutions play a crucial role in facilitating secure online transactions. One such payment gateway that has been gaining popularity in recent years is 2Checkout. In this article, we will delve into the history of 2Checkout, its relationship with other companies, and its competition with other payment gateway solutions such as Stripe and Paypal.
A Brief History of 2Checkout
2Checkout was founded in 2000 as Avangate by a group of entrepreneurs who saw the need for a payment gateway that could cater to the needs of digital goods sellers. In 2017, the company rebranded as 2Checkout to reflect its evolution into a comprehensive payment gateway solution that caters to both digital and physical goods sellers.
Over the years, 2Checkout has grown to become a global payment gateway solution provider, serving over 50,000 merchants in 200+ countries. Its platform allows merchants to accept payments in over 45 different payment methods and 100 different currencies.
2Checkout's Relationship with Other Companies
2Checkout has had various relationships with other companies throughout its history. In 2013, the company acquired a digital commerce company called SafeCharge. The acquisition allowed 2Checkout to expand its payment gateway services to include fraud detection and prevention tools, as well as chargeback management solutions.
In 2019, 2Checkout was acquired by Verifone, a leading payment solution provider. The acquisition allowed Verifone to expand its payment gateway solutions and further strengthen its position in the payment industry.
Competition with Other Payment Gateway Solutions
2Checkout faces competition from other payment gateway solutions such as Stripe and Paypal. Stripe, founded in 2010, offers a similar payment gateway solution to 2Checkout, with a focus on developer-friendly APIs and easy integration with third-party apps. Stripe has become a popular choice for startups and small businesses due to its simplicity and ease of use.
Paypal, on the other hand, is a well-established payment gateway solution that has been around since 1998. It offers a range of payment solutions, including credit and debit card payments, bank transfers, and PayPal balance payments. Paypal has a large user base and is a popular choice for businesses of all sizes.
2Checkout has come a long way since its founding in 2000. It has evolved from a payment gateway solution for digital goods sellers to a comprehensive payment gateway solution that caters to both digital and physical goods sellers. With its global presence and wide range of payment methods, it has become a popular choice for merchants around the world. While it faces competition from other payment gateway solutions such as Stripe and Paypal, its unique offerings and focus on fraud detection and prevention set it apart in the payment gateway industry.