Finally, white label payment gateways offer a cost-effective solution for businesses looking to accept payments online. Because white label payment gateways are designed to be scalable and adaptable, businesses can choose the features and services that they need and pay only for what they use. This can be particularly beneficial for small businesses or startups that may not have the resources to invest in a full-featured payment gateway solution. White label payment gateway solution represents a ready-made gateway system you can customise to provide payment processing services under your brand.
- Are they ready to integrate new payment methods your target audience is most comfortable with?
- In summary, white label payment gateways provide businesses with a cost-effective solution for processing payments and enhancing customer trust and satisfaction.
- It will have your company logo, colors, and other corporate-style indicators.
- When a customer makes a payment, the payment gateway securely processes the transaction and sends the funds to the merchant’s account.
- Plus, they have greater control over the payments experience which not only strengthens their customer relationships but also helps them grow their brand and reputation.
At about that time, the magnetic stripe started to be replaced by a microprocessor chip. The specification of the chip-based payment system was carried out by EMVCo, a company jointly created by Europay, Mastercard and Visa. Right now, roughly 70% of all payment cards worldwide are EMV compliant, and the market is continuing to grow.
B. White label vs. traditional payment gateway
Crassula, for instance, uses a modular approach to build solutions. It means that you are free to choose what functions and tools you want your financial product to have, and which ones are not important. You can design a white-label product of your dream and solve all your problems in a few clicks. This way you can save your time and effort but will still get a customized white-label gateway for your business. Business owners and those who provide payment processing services to other merchants, sooner or later, face the need to choose the payment solution to process and consolidate their entire transaction flow. Opting for Corefy, you get an all-in solution that helps you generate revenue as soon as possible.
Does the platform offer robust reporting features to check user activity, residuals, and volumes? To ensure a smooth payments experience for your customers, look for a payment platform that has a strong and long-term relationship with sponsors or acquiring banks. This will ensure that payments are swift and go through successfully, more often than not.
Moving Forward with White-Label Payment Processing
White label payment gateways provide support for various currencies, making it easier for businesses to accept payments from customers all over the world. This feature is particularly useful for businesses that operate in multiple countries and need to accept payments in different currencies. With a white label payment gateway, businesses can easily convert currencies and process payments in the currency white label payment processor of their choice. So, they can use a white label payment gateway to process their transactions. While its cost is often lower than that of other solutions, a white label one offers a huge selection of payment methods, advanced functionality, and high-tech security methods. Moreover, the provider of this technology takes full responsibility for maintaining and constantly updating the system.
So, you’ll have the support of professionals at your disposal, without any need to hire ones. Get the opportunity to apply your branding elements to the design of the payment platform for brand awareness and added trust of your customers. Here are some more advantages of using a white-label payment gateway. In simple words, a company puts its logo on the customized solutions while the initial brand name of the producer is removed. We guarantee an increased speed to market for your financial product, as well as flexible pricing, compliance with regulatory requirements, and full support of your solution infrastructure. If you have any questions about our end-to-end business solutions or about our company, seek expert advice, or want to give us your feedback, our team is here to support you, anytime.
Payment options supported
All of our LabelValue.com brand labels are available for full customization. You will be able to create one Travel Plan at a time by choosing ‘Add Country’, for a maximum period of 90 days, including up to 7 countries. Remember to let us know your travel plans when you’re travelling abroad.
This ensures that businesses can tailor the payment experience to their brand and customer preferences. With customized payment pages and checkout processes, businesses can improve the overall payment experience, leading to higher customer satisfaction and increased sales. Choosing a white label payment processing model helps save the time and effort needed to develop a PSP from scratch. The latter may take up to three years and includes hiring a team of experts, developing the software, getting the necessary licenses & passing compliance audits, etc.
They are applicable to cards or mobile phones, as well as specifications for terminals. However, this is easier said than done; most ISVs do not have the necessary expertise or resources to become merchant services providers. This method of payment processing is known as “white-label payment processing,” and we’ll talk about it next using Akurateco as an example. Creating your own payment gateway is by far the most resources and time-consuming of all these ways. It starts with hiring a team of payment technology experts to develop and, consequently, maintain your payment gateway.
A white label payment gateway allows merchants to accept digital payments without having to invest in their own hardware or software, which saves them money on upfront costs and helps them get started quickly. Andrew is the Founder of Akurateco Payments Orchestration Company, established in 2019. With over 15 years of hands-on experience in online payments, Andrew has a solid understanding of how to build a product that helps to increase revenue and save on processing costs. The future of white label payment gateways looks bright as more businesses are realizing the benefits of offering their own payment processing solutions.