No, 3D Secure doesn't prevent chargebacks, but having it will reduce the number of disputed transactions. You can learn more about the benefits of 3D secure payment as below:
2D and 3D payment gateway are both virtual POSs (Point-Of-Sales), but the way they accept online card payments reflects their pros and cons. Here are some drawbacks when it comes to 2D secure payment gateway operation.
Cost for integration and maintenance fees are similar to 3D secure payment gateway.
It is easy to cause chargebacks, refunds or disputes due to lack of SCA (Strong Customer Authentication).
Negatively impact on revenue due to unsafe payment processing which customers are afraid of in the checkout step.
Reduce the reputation of merchants due to lack of fraud prevention mode.
When businesses scale up globally, the 3D secure payment gateway is a compulsory factor to persuade international customers to make purchases. It is essential because international transactions itself contain a hidden risk rate. Not only the risk affects online shoppers but also merchants too. The 3D secure Payment gateway plays as a first line of defense against cyber crime in the financial and payment sector.
Dealing with chargebacks, refunds and disputes cost business handling time as well as operation cost while having no revenue on these issues. Due to the lack of SCA, payment problems easily occur and businesses would waste significant time on processing and it affects new customers acquisition.
At PayCEC, our team supports online SMEs and Startups integrate 3D payment gateway into their website to accept local and international online payments. We know that starting everything at the beginning is a tough time, and businesses need more support. That is why we help you with FREE integration setup fee and reasonable maintenance fee. On the other hand, SMEs still do not focus on specialization due to the shortage of resources, PayCEC team has a dedicated technical team who will guide you on every single step and care all the way you go.
If you need further assistance or answer, please don't hesitate to contact us.
We are honored to serve as your reliable business partner and financial service provider in the industry and other business-related services. With the help of our professional staff, to help merchants to achieve their goals for the development and expansion of the international business market.
Our payment flow has developed in the e-commerce world to perform seamlessly and effectively across all platforms and devices. We take pleasure in combining technology with customer service, to solve your concerns at the moment.
PayCEC is a fully worldwide payment network that not only allows merchants to be paid immediately and securely, but also allows them to withdraw money in multiple currencies to their company accounts.