In this modern world, many people and organizations are doing different businesses at different scales, trying to provide some product or service to their customers. Many businesses, regardless of being traditional or modern, have been adopting new ways of accepting payments from customers.
If you are considering starting accepting payments online through your website or application, this is where you need a payment gateway. It is important for you to select a suitable payment gateway, which benefits you and is good for the longer term.
In this article, we are going to explore payment gateway, and mainly we would focus on the 2D payment gateways, in a pretty understandable way, so without any further delay, let’s get into it.
Table of contents
- What is a Payment gateway?
- What is a 2D payment gateway?
- Benefits of a 2D payment gateway
- Who should use the 2D payment gateway?
- 2D payment gateway – the downside
- 2D payment gateway providers – sites list
2D payment gateway
What is a Payment Gateway?
Now, when we are known that in order to be able to accept online payments through our website or application, we need a payment gateway. So, even before we move to understand what is the 2D payment gateway, it would be better to understand what is a payment gateway.
A payment gateway can be considered as something that connects your bank account to some platform where you want to transfer the money. In simpler terms. If you are a business person, you can understand the payment gateway as software through which, your customer is going to transfer the funds to you.
You can explore more about the payment gateway, and also about what different payment options are available through the payment gateway, while we now move to explore what is a 2D payment gateway.
What is a 2D payment gateway?
2D payment gateway, or a 2 Dimensional secure payment gateway, as the name suggests, is a type of payment gateway, where the customers are allowed to make payments online, without any additional security check, or a Time Password (OTP). So, in order to make a payment, the customer only needs the credit/debit card number, expiry date of that card, and the CVV.
In such a case, the payment amount is deducted from the linked bank account, without needing any additional security check.
You might have used or seen such a payment process, where, when you are purchasing some product or service, and you choose to enter the credit/debit card details, and the payment is done.
Benefits of a 2D payment gateway
As of now, you might have become familiar with what is a 2D payment gateway. It is just a payment gateway, where one can make online payments without any additional security check, with just the help of a credit /debit card.
So, now we are going to head up to see, what are the benefits of using the 2D payment gateway. We have listed out some of the benefits of using the 2D payment gateway, lets’s have a look –
- Easy to Integrate.
- Transactions in multiple currencies.
- Suitable for High-risk business
- Fast approval
- Easy payments
and some other benefits.
These are some benefits of using a 2D payment gateway in your website or application for online payments through credit/debit card. If you as a business person, are willing to offer the payments online through your website or application, you can determine whether or not, should you go with the 2D payment gateway.
Who should use a 2D payment gateway?
Speaking in simple terms, the 2D payment gateway is a suitable choice for businesses of all ranges, regardless of being small scale, medium scale, large scale, or being traditional or modern, or being start-up, or a well-established multinational company.
The thing is that when someone is using the 2D payment gateway, the payment process is very easy, which just involves entering the credit/debit card details from the customer end. research says that many customers cancel their purchase, just if the checkout process is complicated. So, in order to make the transaction process smooth, and simplify the process, many people and organizations choose a 2D payment gateway.
2D payment gateway – a downside
2D payment gateway, as it is defined, is a payment gateway that allows customers to make online payments without any additional security check. it just involves entering the credit/debit card details from the user end. But the thing is that the 2D payment gateway lacks security, since there is no additional layer of authentication, to validate the payment. Due to this, there is a risk involved, if someone has the credit card/debit card details from some customer, they can be misused.
It does not mean that the 2D payment gateway is insecure because of the lack of a security layer. But it prevents many users from using such payment platforms. Due to this, an extra layer of security is required to be added. You can explore something called a 3D payment gateway, which adds an additional layer of security to the transactions, sending a unique authentication code through SMS or email, and the transaction only gets processed if the code is verified.
2D payment gateway sites list
If you as a business person, want to offer online payments through your website or application and are searching for a 2D payment gateway, since it fits you, you can find many different payment gateway providers, who provide a 2D payment gateway. Here, we have listed some of the payment gateway providers, that provide the 2D payment gateway facility.
If you are a merchant, and you want to go with the 2D payment gateway, WebPays is a reliable all-in-one solution for accepting payments through credit/debit cards from customers, all over the world.
The EsecurePay is a well-known platform as a 2D payment gateway provider. They offer a 2D payment gateway for businesses of all ranges, from small-scale to large-scale, or start-ups to well-established companies at the best price.
EPay global is a good platform when it comes to payment solutions. They provide service to all ranges of businesses, from a start-up to a well-established company, regardless of whether your business is low risk or high risk, and it helps you expand your business globally.
Corefy is a payment orchestration platform for online businesses and payment institutions. It is a reliable solution when it comes to a 2D payment gateway. It allows merchants to accept online payments from all over the world.
When you are willing to accept online payments through your website or application from the customers, a payment gateway is needed. We have seen in simple terms, what is a payment gateway. Also, we have seen much about the 2D payment gateway. As a business person, when you are willing to offer payments online for the customers, through your website or application, it is important to choose the right payment gateway.
We do not promote or recommend any payment gateway, and the above-mentioned list of payment gateway providers is just for your information. We tried to understand the 2D payment gateway in much simpler terms. This article is just for information purposes.
FAQ About 2D payment gateway
Ans: In a 2D payment gateway, one just requires the credit/debit card details for the transaction, which makes it quite risky, since there is no additional layer of security here. But this does not mean that the 2D payment gateway is Unsecure.
Ans: A 3D payment gateway is a type of payment gateway with an additional layer of security, which involves a unique authentication code, which is used for validating the transaction.
Ans: A payment gateway can be considered as software, which connects your bank account to the platform where you want to transfer the money.