Payment Gateways act as a medium for processing payments from the customer’s bank account to the merchant’s account. It securely transfers money from one party to another. Payment gateways have their own set of security protocols and layers to ensure strong data encryption. Payment gateways can be classified into two different types i.e., 2D and 3D payment gateways.
What are they and what is the Difference Between 2D And 3D Payment Gateway? Let’s find out!
What is a 2D Payment Gateway?
A 2D payment gateway provides 2-layer security to the transactions. Customers are provided with a checkout interface that allows them to process the payments after entering the basic card details. Customers enter their CVV following which the payments are processed instantly.
What is a 3D Payment Gateway?
The process in the case of a 3D payment gateway is similar to that of a 2D payment gateway. However, there is an extra layer of security in the case of 3D gateways. The customers are sent an OTP (One Time Password) to authenticate the transaction. The customer receives the OTP via email, SMS or soft tokens whenever a new transaction is being made by the customer and is valid for a very short duration.
Difference Between 2D And 3D Payment Gateway
The following is the basic Difference Between 2D And 3D Payment Gateway
| 2D Payment Gateway | 3D Payment Gateway |
|---|---|
| 2-Dimensional Secure Payment Gateway | 3-Dimensional Secure Payment Gateway |
| It is a straightforward transaction between buyer and seller | Parties involved are many and include buyer, issuer, acquirer, payment system and seller |
| The payment gets processed after the cardholder enters the CVV and card information | The payment gets processed after the cardholder enters the CVV, card information and an OTP. |
In a Nutshell
In short, the 3D payment gateway wins the 2D Vs 3D Payment Gateway conundrum. However, businesses can choose between the two depending on their business needs and the volume of transactions. However, all in all, a 3D payment gateway is always recommended for higher security features
For merchants looking for the ideal 3D payment gateway, Innoviti Technologies functions as a 3D payment gateway offering secure and reliable purchase tools for all kinds of merchants. Visit Innoviti’s website today and claim your future!