2d Secure vs 3d Secure. A Comparison
Quadrapay, through its partners, offers various payment processing solutions. These include helping European merchants with 2D secure payment gateway and merchants from most of the other nations with 3D secure payment gateway. In this article, we will understand the fundamental differences between a 2D secure payment gateway and 3D secure payment gateway. We will also understand which solution is better.
- 2D Secure payment processing is also known as two-dimensional payment processing in which there are two parties. The payment instrument and the merchant. This transaction usually does not require any additional password or any one time password.
- 3D Secure payment processing solutions. This method od card processing is prevalent these days. It includes an additional level of security. With this processing methodology, the cardholder has to enter a password or randomly generated OTP on the payment page before the transaction is completed. Payment processing companies can either enable or disable the 3D Secure filtering on the Gateway. In countries like India, payment processing companies must implement the 3D Secure filtering. However, in nations like the United States, Canada and most European Nations processing companies may offer non-3D solutions as well.
Merchants must understand that a 2D Gateway attracts more significant risk in terms of chargebacks and fraud.
When the card holder knows that the transaction cannot go through without entering the one time password or the 3D Secure pin, then he feels more confident about the safety of his money and the line of credit.
As a merchant service broker for various payment processing companies in the European Union, US, Canada and India, we strongly encourage merchants to use payment gateways that are 3D secure enabled.
A merchant must understand that only implementing this additional level of security will not always help the business owner in terms of winning chargebacks and disputes. We strongly recommend business owners to evaluate various chargeback alert services as well as fraud detection platforms. You will be happy to know that Quadrapay offers multiple services through its 50 Plus partner organisations. These services include chargeback notification services, electronic check payment processing, merchant cash advance for the United States of America, Loans solutions in India, High-risk merchant accounts for business is in the European Union and the USA and low cost payment gateways.
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