Let’s review the differences:
This certificate level checks to see if the person or company that applied for the certificate is the owner of the domain. It’s an easy certificate to obtain.
This certificate requires an extra step to validate your ownership of the domain by checking some identification. Certificate authority may require you to show proof of a legal business license, your business’ article of incorporation, a bank statement, or other third-party proof of your existence.
Extended validation requires a much more stringent vetting process before a certificate is obtained. The domain owner must pass more extensive identity verification to prove exclusive rights to use the domain, and confirm its legal and legitimate existence. Because this certificate offers the highest level of trust and security, it can take several days before the validation process is complete and the certificate can be installed.
As you can see, SSL/TLS is no longer just an encryption method, but a way to legitimize business operations online.