With a massive increase in the usage of credit/debit cards for banking transactions, for more secure transactions, even the transactions have emerged from being 2D to 3D. Naturally, the 3D transactions have added features that make a given transaction more secure than its counterpart transaction, which is a 2D Transaction.
The basic difference that lies in the operations of 2D & 3D Transactions is the extra feature in 3D transactions, which has a password linked with the final step of transaction, without entering which, a transaction would not be completed, if the correct password isn’t added by the user. This user may be a customer, or a merchant availing the payment gateway services.
This exclusive password in 3D transactions is verified by Visa. It adds an additional security layer for online credit & debit card transactions. Where 2D transactions also had specific security measures to keep a thorough check on the transaction process, but they were intervened by hackers who could’ve easily made the transaction process unsafe. This is why a there came a need to add an extra feature of a strong password with the transaction process. This password is only known by the cardholder & once they enter it, the payment gateway sends this password to bank for authorization. If the correct password has been entered, the transaction is rendered safe & hence, the transaction process is completed, which is verified by Visa. Since the merchant does not capture the exclusive password, there is an extremely reduced risk from the security incidents at the online merchants; while the hacker may still be successful in obtaining the card details, but there is no way for them to get the associated password, which makes the 3D Transactions quite secure & safe.
Advancement has occurred in 3D Secure, where, in its newest variant, a One-Time Password is generated with each transaction, which makes the transaction even more secure, as with every new transaction, a new password is generated, which forms a strong authentication process. It is obvious that each time a new password generated with a transaction would yield the transaction to be of utmost security & hence, this added feature would lead a safe transaction process.