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2Checkout.com

Posted on 2006-07-04
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Last Modified: 2013-11-29
Hi!

Was wondering if there's a way of including the 2CO fee of 5% in the total price of a product...
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Question by:Julian Matz
7 Comments
 
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Expert Comment

by:desertcities
ID: 17040050
Sure you can, just raise your prices up some or perhaps add it in the handling fee?

Is that a possibility?

Mark
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Author Comment

by:Julian Matz
ID: 17040163
Hi Mark,

Yes, I know I could raise the prices, but I was wondering about the following possibility for example:

- I have a product which costs 100.00
- 5% of 100.00 is 5.00
- so I put the price at 100.00 and add a handling fee of 5.00
- the 100 goes to me and the 5.00 goes to 2CO

But the way I think it works (I haven't used my 2CO account yet) is that the total would be 105.00 and 2CO gets 5% of that which would be 5.25.

I know this only 0.25 but if the product cost 900 then the margin would be a lot greater...
Does this make any sense at all?

I mean is there a way of automatically calculating the 2CO fee of a given product without having to think back to math class :)
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Expert Comment

by:ShaneJones
ID: 17041433
Can you not force an item into the basket that costs 5% of the total ??

Shane Jones
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Assisted Solution

by:desertcities
desertcities earned 450 total points
ID: 17041681
Hi Julian,

The price you set in 2checkout.com for your product/service is fixed.

2Checkout will charge you 5.5% of the sale and $0.45 per transaction.  I suppose you could round it off to 6.0% and then just multiply 6 x cost of your product to get your offset cost.

Be a little prudent when you fix your handling fee.  As you know, many vendors will inflate the shipping and handling cost some to offset costs.  I generally have never gone over a $2.00 handling fee otherwise customers will ask why.

Mark
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Assisted Solution

by:coreybryant
coreybryant earned 50 total points
ID: 17043608
With a merchant account, it is against Visa's policies to do this.  You should check with 2CO to see if they will allow this before you implement it.  I doubt it is but 2CO will abide first by Visa's regulations before implementing their own

-Corey
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Accepted Solution

by:
desertcities earned 450 total points
ID: 17045158
Julian,

Just think of your recovering your 2Checkout costs as increasing your prices.  That's all.  Don't make a policy issue out of it or ask 2Checkout as they will say no.  

As I shared earlier, just multiply 6% x your price and then add that cost to your total price, and then decide on an agreeable shipping and handling fee, and go from there.  

So if you have an item selling for $100, 6% added would be another $6.00.  So just add that $6.00 into your pricing.  You can make your price whatever you want.  If the customer wants to buy the item is another story.

But the fixed pricing is totally up to you.  Many vendors try to recoup their costs one way or another.  My experience has showed you do so much better in sales having a fair and competitive price with a good shipping price and low handling fee.

Good Luck!

Mark

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LVL 21

Author Comment

by:Julian Matz
ID: 17161360
<< My experience has showed you do so much better in sales having
<< a fair and competitive price with a good shipping price and low handling fee.

I know -- my prices are usually so low that I have to be careful of not making a loss : )
That's why I asked about the 2CO fee...

Anyway, thanks for your comments...

-Julian.
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