The term “white-label payment gateway services” is likely to have shown up in your search for “payment gateway services” already. Depending on the nature of your company, this service might be invaluable. However, the question of what a white-label payment gateway is remains unanswered.
A WHITE-LABEL PAYMENT GATEWAY IS WHAT?
You may provide your clients with payment processing services under your own brand with the help of a white-label payment gateway. Like a standard payment processor, it supports all the standard functions, such as accepting credit cards. Credit card transactions can be processed in a number of different currencies. A white-label gateway, on the other hand, allows you to provide these services to your own consumers under your own brand.
Consider that you run a website creation service for online stores. Online payment processing allows you to collect money from customers who use your platform to create and host their businesses’ websites. If you utilize a white-label gateway, however, you can also provide your clients the option of accepting credit card payments through the online stores they create. What’s more, you’ll earn a percentage of their profits with each sale they make.
WHAT ARE THE BENEFITS OF A WHITE-LABEL PAYMENT GATEWAY?
The owner of a modest online clothing business usually doesn’t need access to a white-label payment gateway. The target audience for this service consists of merchants who have a reason to provide their own merchant services, such as
- Suppliers of turnkey businesses. You’ll need a method for your clients to quickly process payments if you assist in the development of online enterprises, especially e-commerce firms for aspiring company owners. Popular examples include white-label casinos and gambling platforms, which are created by companies and then rented or sold to company owners for profit.
- Enterprises that use multi-level marketing. If the success of your business depends on consumers selling your goods, a white-label payment gateway will make it possible for you to provide each client access to their own store.
- Different kinds of resellers. If your organization is a VAR (Value Added Reseller), ISV (Independent Software Vendor), or ISO (Independent Sales Organization), implementing a white-label solution may be suitable for your needs
- Aspiring suppliers of payment gateways. The company itself can frequently serve as a gateway. You may create your own website and advertise a certain payment gateway under your own name and branding if you like how it works but think you can sell it more successfully. The majority of the profits will still go to the white-label supplier, but you will still receive a modest fee for something that you didn’t technically help create. Imagine it as a very sophisticated affiliate service.
- White-label credit card processing for companies. You may provide credit cards to your consumers that bear your brand’s name thanks to many white-label payment gateways. This procedure has already been demonstrated to you if you’ve ever been asked to sign up for a credit card at your preferred department store. Customers may use the card everywhere they buy (while receiving benefits each time they make a purchase from you), and you get paid for each swipe.
A white-label gateway might be the way to go if providing consumers with payment processing options is an integral element of your service.
HOW CAN A WHITE-LABEL PAYMENT GATEWAY BENEFIT YOUR BUSINESS?
You may tap into a new source of passive income that is otherwise unavailable to most businesses by using a white-label payment gateway.
Giving your consumers more leeway and flexibility will give you an edge in the market.
Instead of directing clients to a third-party supplier, you may build trust by utilizing your own brand and identity for payment processing.
The gateway’s merchant functions, like processing payments, encryption, and fraud detection, remain available to you.
WHAT ARE THE DISADVANTAGES OF WORKING WITH A WHITE-LABEL PAYMENT GATEWAY?
There are drawbacks to using white-label payment gateways.
- The gateway’s price tag might be exorbitant if you’re not sure you’ll ever use the white-label features.
- The majority of white-label payment processors lack flexible configuration options. Therefore, while you may have some say in the overall look and feel of the checkout process, in practice, you may have very little say.
- Your identity and reputation are on the line if you claim the portal as your own. Any problems with the functionality or data breaches will reflect poorly on your organization and might even leave you open to penalties, lawsuits, and other punitive actions, so you must be extremely cautious about preserving a 100% PCI compliance rate while preventing fraud.
HOW DO I SELECT A WHITE-LABEL PAYMENT GATEWAY?
Certain fundamental aspects are exclusive to white-label gateways. For instance:
- Verify if the vendor sells the whole suite of gateway services, including customer support and fraud protection technologies, directly to merchants.
- Verify that the service provider will let you use your own brand while advertising their offerings. They are not a white-label gateway if they provide their services to your consumers but insist that you keep their name and branding in place.
- Make sure the service you’re using allows for some personalization. The best e-commerce platforms will allow you to personalize the look and feel of your whole business, from the logo and checkout page to the URL and typefaces.
- Make sure the foundation is laid, including the design, functioning, and security measures. The solution should include a straightforward API or plug-in that allows you to simply integrate it on your client’s behalf.
Furthermore, every payment gateway, white-label or not, must have particular capabilities.
Features such as these:
- Status deserving of trust
- Complete compliance with PCI DSS standards and improved encryption
- Able to deal with a number of different currencies
- Recurring payment support
- Methods for preventing chargebacks and detecting fraud
- 24/7 assistance for merchants
- Support for your shopping cart platform
White-label payment gateways offer several benefits for businesses that need reseller services. If you need help, please get in touch with our expert.