Does your business handle a large number of e-commerce transactions? Then, you are aware of your customers’ various security challenges. This is where the 3D payment gateway comes in.
What Is A 3D Payment Gateway?
This is a solution designed to shield personal and sensitive customer data. Consequently, it gives your business a reputation for offering reliable and secure payment services. Neat, right?
Remember, the internet is filled with fraudsters and lurkers alike, who are constantly on the hunt for ways to exploit payment systems. For this reason, it is crucial to safeguard the information provided by your customers, such as their personal data and card details.
At the end of the day, the 3D payment gateway adds a layer of protection to online transactions. It secures all three parties involved: the issuing bank, the cardholder, and the merchant, which is you.
How Does a 3D Payment Gateway Work?
Want to understand the 3D payment gateway process? Here is a quick breakdown of how it works.
1. Customer Authorization
A shopper is required to input their debit or credit card information during checkout. This is possible through the secure payment page provided by the customer.
2. Data Transfer
The 3D payment gateway is secure and enables the transaction data and card details to safely reach the payment processor.
3. Issuing Bank Authorization
The issuing bank then verifies the transaction and chooses to either approve or decline it. Consequently, this decision travels back to the merchant through the gateway.
4. The Final Result
Both the customer and merchant receive confirmation regarding the payment, specifically if it was successful or not.
Why Should You Use A 3D Payment Gateway?
The first thing you should ask yourself is why you should use a 3D payment gateway. The answer is simple: it enables you to secure data and the trust of your customers. But let’s take an in-depth look at how a safe gateway can make your life easier.
1. Streamlined User Experience
It is a mobile-first authentication mechanism, which paves the way for a smooth and straightforward payment process. As a result, customers can seamlessly make transactions and purchase the goods and services they came for.
2. Quicker Checkouts
There is no denying that streamlined transactions will allow your customers to make payments within seconds. This will ensure that they do not have to wait for long to complete the checkout process or abandon their cart halfway through.
3. Fewer Chargebacks
The extra layer of security that you get by implementing a 3D payment gateway will allow you to accept payments without a care in the world. At the end of the day, you can be confident that there will be fewer chargebacks from your customers.
The Bottom Line
After reading everything above, you can safely conclude that a 3D payment gateway is not just a simple tool. It is a necessity if you are running a business online. So, make sure to implement it and keep security at the forefront of your brand.
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