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Private-label providers, on the other hand, manufacture unique products for each of their customers. A white-label payment gateway is basically a customizable payment gateway that allows you to place your brand’s logo and image on the payment gateway page. This personalized payment solution contains all the features that a traditional payment gateway provides. It takes it a step further by white label payment gateway price incorporating your business identity until the end of the payment funnel. However, one thing that most companies often overlook is their payment gateways.
Key Components of White Labeled Payment Processing
When choosing a partner for the best white label payment https://www.xcritical.com/ gateway, a business owner must realize that not all of them are created equally well. Let’s look at a few examples by reviewing the most popular companies that offer the best-quality services. Although white label systems have many customization options, it is not fully customizable. That is why businesses have limited control over the underlying infrastructure and technology of the white-label payment gateway.
- Customisation options allow businesses to create a payment experience that’s uniquely aligned with their brand identity.
- Payment gateways are the front line of any transaction, responsible for capturing and transferring payment information from customers to the acquiring bank.
- This includes a secure web server to host the gateway and handle transactions.
- The solution is distributed on the SaaS model and hosted on AWS servers.
What Is White-Label Payment Processing?
You get all the benefits of selling your merchants a world-class, “in-house” gateway with none of the development or maintenance costs. With the help of white-label payment gateways, you can instill trust in such users by showcasing your brand’s logo and clearing any doubts customers may have about paying online. Now that the customers know it’s the same merchant they are paying, they tend to feel more confident and reassured. Payment Service Providers can also benefit extensively from white label gateways. Branded payment gateways allow PSPs to offer tailored services to their clients. Customisable solutions enable them to differentiate themselves in a competitive market.
Differences Between White-Label and Traditional Payment Gateways
This means managing everything from PCI compliance to fraud prevention, which is resource-intensive. Additionally, the business must be prepared to handle any issues that arise, as customers will hold them accountable, not the white label provider. While the revenue and improved experience seem like a no-brainer, it’s not as easy as it seems. Nowadays, new and existing companies compete strongly to attract and retain customers. Therefore, a white label solution can be right for almost any enterprise that offers its products and services online.
Banks and other financial institutions can greatly enhance their offerings with branded payment gateways. Customised payment solutions can significantly improve customer retention and satisfaction. White label payment gateways are renowned for their seamless integration capabilities. They offer APIs and SDKs that make connecting with existing systems and platforms easy.
White label gateways provide financial institutions with advanced payment technologies, allowing them to meet evolving customer expectations. White-label payment gateway prices are about 40 thousand dollars for all. It includes the cost of equipment and licenses to work in the fintech industry. As you can see, buying a white-label payment gateway has a lot of advantages.
When organizations integrate a white label payment gateway, they gain a serious advantage over their competitors regarding payment integrations and technologies. All this inevitably leads to your solution looking more attractive from the outset in the eyes of ordinary customers. By adopting a white-label payment gateway, businesses gain greater control over their payments infrastructure. This is not just about branding, although the ability to offer a payment solution under your brand name undoubtedly enhances brand consistency and trust.
By choosing Boxopay you get a ready-to-use white-label solution with all the necessary functionality and customization options. Instead of hundreds of ready integrations, Boxopay makes custom integrations with acquirers, processing centers, or even Visa and MasterCard directly, if you need it. Your choice of gateway primarily depends on your business model.
Clients benefit from streamlined operations and an improved customer experience, fostering loyalty and reducing churn. Their customers appreciate the secure and efficient service, enhancing their satisfaction and trust in the platform. White-label payment processing is a strategic option for software platforms to gain a competitive advantage, create new revenue streams and enhance their valuation. Embedding white-label payments into your platform could be the key to unlocking significant growth. In order to reap the benefits of white-label payments, you need the right payment solution to support them. Your payments partner can have a substantial impact on the quality of service, security and overall customer experience you are able to offer.
Even if you hire a team of experienced developers and they build a payment solution on their own, you’ll still need an inordinate amount of effort to keep it running. And, of course, you will still require a motivated and skilled team of programmers to whom you will have to pay a hefty salary. Their recruitment will require your expertise in payment software development to ensure they are up to the task. In addition to its large suite of features and add-ons, the platform is highly customizable through its sandbox API and developer tools. Though it may take developer experience to take full advantage of the tools, Stripe can be completely branded to match your website.
Of course, this is also true for custom software, but the costs, in this case, will be much higher. In the case of a white-label solution you get a payment gateway with basic functionality and additional functions can be added to meet your business needs or project vision. When clients receive efficient, customized support, they can offer a better service to their own customers, enhancing satisfaction and loyalty. This positive ripple effect strengthens the SaaS platform’s and its clients’ brand reputation, contributing to a growth and customer retention cycle.
When you use a white-label payment gateway, you depend on the provider for ongoing maintenance, updates, and support. If the provider falls short somehow, it affects your business directly. That is why choosing a reliable and reputable payment partner is crucial. Let’s get to know more about a white label payment gateway, its peculiarities, and how to pick the best partner. Keep an eye out for the provider’s credibility, the breadth of payment options they support, and their commitment to security. Don’t underestimate the importance of customization options, top-notch technical support, and a transparent pricing structure.
According to a report by Polaris Market Research, the global payment processing solutions market was valued around $74 billion in 2021 and is expected to reach more than $192 billion by 2030. The size of the payment processing industry is a reflection of its business value and the diversity of needs that exist—it’s not the kind of function with a one-size-fits-all solution. Having all support run through you and carry your branding establishes you as an expert in the merchant’s eyes. That way, you get full credit for successful resolutions, even if you have to escalate to your partner for help.
Look for a partner like Swipesum that offers flexibility, comprehensive support, and robust technology. Once you’ve chosen a provider, focus on customizing the solution to align with your brand and setting up the necessary compliance and security measures. Ensuring that your system is secure and meets industry standards is crucial for maintaining customer trust and avoiding regulatory issues.
Payment gateway providers offer continuous updates and dedicated support, allowing businesses to focus on growth rather than technical maintenance. This support structure also helps companies keep their systems current, enhancing reliability and performance. When you buy something online, the payment gateway plays a crucial role by securely handling your payment information and coordinating with banks to complete the transaction. First, you enter your card details on the website, and the payment gateway encrypts this information to ensure it’s safe. Then, it sends this encrypted data to the merchant’s bank, which contacts your card issuer to approve the payment.
Once your white label payment solution is set up, focus on marketing it effectively. Leverage your brand’s strengths and highlight the seamless, integrated experience your payment processing solution offers. Differentiating your offering in the market is crucial to attracting and retaining customers in a competitive environment. Emerging PSPs can establish their company without a substantial initial investment by leveraging an advanced white-label payment gateway.
A well-branded gateway can substantially improve customer satisfaction and retention by providing a tailored user experience that meets customer expectations. Traditional gateways typically offer options for customisation and branding, focusing more on functionality than looks. In contrast, white label gateways provide a level of flexibility and control. This allows businesses to manage their branding effectively, improving customer experience and building loyalty. These solutions are designed to offer omnichannel support, enabling businesses to provide a unified payment experience across various touchpoints. Connections to acquirers and third-party services are robust and streamlined, making them an ideal choice for businesses looking to offer a holistic payment processing solution.
