A 2D Payment Gateway refers to a payment processing software that lets customers pay without using OTP and without a security check. It only demands a credit card number and expiry date and after entering these details, the investment is completed.
A Payment Gateway is quite essential to initiate a business. It authorizes merchants that they can provide facilities of quick and user-friendly payment services to their customers and the payment gateway also offers modified merchant accounts to merchants. Either it can be a 2D payment gateway or a 3D. Besides, a 2D gateway is processed with domestic and international bank accounts. Really, if a merchant requires a payment gateway then he has to apply for a merchant account.
Most people do not understand the importance of a 2D secure form of payment gateway. In 2D payment processing, a customer can effortlessly pay by just entering his card details on the merchant’s website. And, details like card number and card expiry date are sufficient to pay for any of the products or services he wanted to purchase.
Amald generally suggests 2D payment gateways to high-risk businesses if you are a merchant who wants to integrate a dedicated payment gateway on your website.
The dissimilarity between 2D Payment Gateway and 3D Payment Gateway
- 2D Payment Gateway
- It refers to a 2 Domain secure payment gateway.
- When a customer is allowed to pay by just entering credit card details like credit card number and expiry date, and not requiring any one-time password or any kind of security check. So we can call it a 2D payment gateway transaction. However, it does not require any further password to process the transaction.
- 3D Payment Gateway
- It refers to a 3 Domain secure.
- When you are paying via a debit/credit card and it implicates a 3D page authentication and ask for OTP or a 3D secure password after entering the card details like card number, expiry date, and CVV then it refers to a 3D transaction. It also provides an extra factor of security to online payments.
Prerequisites for a 2D Payment Gateway
- Industry’s Functional Website: It doesn’t matter which type of business you are running, it can be e-commerce, forex, or online gambling, but you will need to have an operational website of your registered firm.
- Merchant Account: A basic requirement for any business owner who is dealing online needs a merchant account. It will allow you to perform online transactions for your bank and you can work like a bank account yourself. A payment gateway itself is integrated into your website and settles the amount in your merchant account to the acquiring bank.
- Transaction History: Each and every company/industry has a transaction history when dealing with the businesses but most of the service providers ask for at least transactions of the last 3 months but in some rare cases, they can ask for 6-9 months’ history. So you will just need to be ready with your transactions history to show it to the service providers.
- Additional ones: The team of a service provider will also need some other documents like the business owner’s address proof, monthly payments record, website history, company documents, etc. Basically, it relies on the firm and the products in which they are usually dealing.
Features of a 2D Payment Gateway
A 2D payment gateway is helpful for those types of businesses that require fast transactions in less duration of time.
- Deals in multi-currency: If a business has requirements from other countries. So, a company will have to be convenient to the customers and the multicurrency feature allows customers from different countries to pay in their local currency.
- Payment Modes: It means another convenient feature that is already integrated a payment processing in the form of different modes of payment. Credit Card Processing is not a single method. eWallets, Net banking, and many other modes of payment are important too.
- Preventing Frauds: Nobody wants fraud in any kind of business. So, a Fraud Prevention feature of a payment gateway keeps a record of the fraud and terminates a payment if there is any suspicious activity in the history or in present.
- Easy Integration: It usually depends on the payment service provider that you’ve selected. At Amald, we have different plugins to integrate the 2D Payment Gateway smoothly with other features.
- Person-to-person Encryption: Person-to-person encryption improves the transaction experience of a customer. It will keep your data safe and secure to avoid the actions of a third party on it. Encryption provides you with a safe environment to complete all the payments.
Benefits of the 2D Payment gateway
Highrisk Gateways have some unique benefits which can be really very helpful for your business. Some common benefits are as follows:
- Proper Assistance: We will provide the proper assistance to merchants worldwide. It will also allow you to get familiar with all the features of a payment gateway. And we can also be able to understand your business.
- Real-Time Transactions: Your transactions will process in real-time and it also allows quick transfer of funds. It will help your business to keep track of each and every transaction that takes place and keep it secured at the same time.
- Smooth and quite easy reporting: Reporting of the transactions are just amazing with Amald. All the reports and bills are completely based on the status of transactions which can be easily generated for the customers.
- 24*7 Support System: Amald is always in service for your needs. We can say that there can be some issues regarding the payments. So, we are always present to help you in solving your queries.
- Do not wait for OTP: OTPs take so much time to arrive and then you type. So, you can allow your customers to pay quickly and continue with the deals as soon as possible. It also enhances their convenience and loyalty to your business and products.
Boost your Business with Amald
As an e-commerce merchant, you can go for 2D Payment processing to safeguard your payment processing. Amald is the brand name in the high-risk payment gateway industry. We have specialization in providing authentic payment gateways to high-risk businesses. Contact us to reach your business’s new heights of success.