That is, you can choose the most suitable end-user platform for effective financial management and realize its capabilities with the help of a reliable development partner. Planning your white label development budget in advance is also essential for creating a solution in a pitfall-free way. Fortunately, white label apps come with a pretty standard set of features. That’s why your development vendor will be able to make an accurate estimate of the upcoming costs. You must have to satisfy with the support of a payment service, if not, it’s not worth to choose with. As it’s the question of your business payment transactions, you must be confirmed about the security of money of your business and your clients as well.
- It is equipped with all of the characteristics of a conventional payment gateway, such as the capability to accept and process payments made through credit cards in a variety of currencies.
- White label payment gateways help to reassure customers of their security and your brand’s authenticity.
- Thus, it is possible to put a label on such software and position it as your own.
- These include e-wallets, mobile wallets, money transfer services, P2P money transfers, and prepaid card programs, which are available as self-service platforms with a white label and through the API.
- Traditional payment processors limit the degree of customization and branding.
- You can read more about this Build vs. Buy dilemma in our whitepaper here.
One of the downsides of a white-label gateway that could be critical for you is that you don’t have enough control over the process. Everything is handled by the gateway provider, including PCI compliance, integrations, certifications, maintenance, etc. Also, if multiple users share your gateway solution, it can work slowly due to overload. Shared Responsibilities and Ownership – As long as the payment gateway is working correctly, the business will not be solely responsible or saddled with any problems. They can alternatively concentrate on fixing or improving the payment service.
Highlights of choosing a White-label payment gateway
Moreover, suppliers of such software can also provide you with other support, such as hardware selection and compliance with all regulatory documents in the US, UK, EU and other countries. Getting the same level of experience and expertise through your own efforts will take a lot of time and money. You’ll need to hire specialists who will design, develop, and test the software.
The concept of white-label product or service, surely, applies to electronic payments in general and to payment gateways in particular. Basically, a white label payment gateway is gateway product which you can offer your customers under your own brand. The moment you start a business or any online platform that https://www.xcritical.in/blog/white-label-payment-gateway-benefits-and-drawbacks/ involves making payments online, you have to think about a payment gateway. Payment gateway requires making online transactions through third-party authorization. The credit card information inputted on your site will be directed to a third party who will subsequently process the payment with the bank.
You can, however, enable those customers to take credit card payments on the E-Commerce sites they construct if you employ a white label gateway. The best part is that you get a little percentage of every sale they make. It is equipped with all of the characteristics of a conventional payment gateway, such as the capability to accept and process payments made through credit cards in a variety of currencies.
To put it simply, instead of building a financial product from scratch, the fintech company can use existing applications to put together its final branded financial product. As you know, white label software basically refers to software a fintech company purchases from a service provider and then rebrands as its own. It enables fintech companies to outsource financial application development to get into the market faster, save time, & resources and stay relevant in a highly competitive market. Specifically, in this online payment processing service, you need to identify your limitations of payment gateways and must be confirmed about their integration with the new white label payment gateway. You can build your website and use your branding to promote and benefit from a payment gateway.
The number and type of payment integrations vary from one payment provider to another. For instance, Akurateco offers 200+ payment connectors via one integration to the platform. Companies that want to improve their image and reputation in the eyes of competitors and clients find it very beneficial to resort to white label services of third-party gateway providers.
With White-Label Payment Solutions, you get a polished, ready-made product for your brand, which is ready to board your customers. We’d love to meet you and showcase how you can use our platform for your benefit. You should take into account that there are some business-related preparations before integrating a white label payment provider. Besides, some companies are afraid of becoming technically dependent on the service provider. By doing thorough research, you can minimise such risks and find a genuinely reliable payment partner. A white-label payment gateway is an up-to-date software that is enhanced with advanced in-house and external anti-fraud filters to detect, analyze, and prevent potentially fraudulent transactions.
Best White Label Payment Gateway Solutions in 2023
These gateways handle secure transaction processing like normal, but with the perk of letting you add your own brand name to the service. If you’re on the fence, here are some pros and cons to help you decide if https://www.xcritical.in/ this is the route you should take. White label gateway is a whole system of crypto payment gateways from which business people and companies process virtual transactions under their brand through other services.
Multifunctional white-label payment gateway designed specifically for e-Commerce acquirers and PSPs. The platform offers a wide list of features for online payment automation. The software is distributed on an on-premises basis, i.e. it is hosted on the customer’s infrastructure.
The Advantages of Using a White-Label Payment Gateway and How It Can Save You Money
They can use the card anywhere (while you earn rewards each time they do so). Providers of payment services get the most benefits from white-label payment solutions. You already know that an open payment gateway entails additional expenses, but what are the specific expenses? First of all, to check if the code works at all, you will need to hire a developer and test its functionality. Then, you will need to tune it to your needs, which in some cases can cost you almost as much as developing a payment gateway from zero. The bottom line is, there is no way around these processes, and you will end up paying tens of thousands of dollars for them.
Enhance or build your brokerage business from scratch with our advanced and flexible trading platform, CRM, and a wide range of custom solutions. Customization options include color, font, shapes and brand logos, plus the option to use your business URL instead of Stripe’s so customers aren’t redirected during checkout. Though it may take developer experience to take full advantage of the tools, Stripe can be completely branded to match your website. A customizable platform can make online store customization much easier, as businesses may be able to take advantage of advanced tools without hiring someone to code a custom checkout page. Our partners cannot pay us to guarantee favorable reviews of their products or services.
It is also great for those who create PSP and plan to scale in the future because our software allows you to transform from PSP to acquirer seamlessly and without any additional tools. Payment orchestration platform offering, among other things, a white-label payment gateway. For example, there are gateways that are complex and cover several different products.