The right payment gateway is the key to an eCommerce business’s success in the current fast-paced world. Many online retailers integrate top payment gateways into their apps or website to accept online payments. There are different types of payment gateway providers handling safe and easy payments for both parties involved. One such type is a white-label payment gateway that allows businesses to process payments using third-party services while retaining their official brand name. In simple terms, it will enable a company to add its name and logo to the payment platform.
Here’s a brief guide on white label payment gateways, their working, and their benefits.
How Do White Label Payment Gateways Work?
Many payment gateway providers offer white-label gateway solutions to merchants who want to use their brand during checkout. It works as an independent platform where businesses can operate using their own brand identity and logo and gain an edge over the competition. When a business owner approaches a gateway company offering white label gateway service, they allow clients to choose their name, domain, user interface, and style for their processing system. They can seamlessly add their bank, which will work upon request.
The white-label payment solution incorporates the brand’s existing style and design, enabling the organization to have its customized payment gateway. The gateway provider generates regular financial reports with accurate amounts to capture transactions meticulously. With robust anti-fraud tools, the gateway protects the client from a data breach, chargebacks, and other issues leading to business loss.
What Businesses Must Use White Label Payment Gateways?
The white-label payment gateway offers multiple benefits to businesses, including flexibility, brand recognition, customer satisfaction, and cost-effectiveness. It is an excellent way to retain customers and enhance their confidence in the brand.
Many buyers feel suspicious when an eCommerce website redirects them to a different website during payment checkout. They may start doubting the portal’s genuineness. However, adding the brand logo at the gateway reassures safety and builds confidence. It is an excellent way to improve reputation and let the business grow. Any company, including an online store, gaming platform, or eCommerce website, must use a white-label payment gateway to accept digital payments.
Benefits of Using a White Label Payment Gateway
These are the key benefits offered by a white label payment gateway:
Better Brand Visibility: Using a white-label payment gateway is ideal for increasing brand awareness across multiple market channels.
Increased Customer Loyalty: Having a single online appearance for multiple products and services adds value and results in satisfied and happy customers.
Technological Edge: With direct integration across numerous payment mediums, a business can benefit by gaining a technological edge.
Easy Rebranding: Payment gateway providers must regularly go through upgrading, accreditation, updating, and code testing of the existing systems and processes. A white-label payment gateway is a simple solution to easily polish the brand and advertise without hassles.
Time-Saving: A payment gateway with the company brand name and logo would be an excellent idea. However, it requires multiple resources and lots of cost and energy from the business. White label payment solution offers easy setup and integration along with regular monitoring. It saves a lot of time and effort for the company required to design its payment gateway.
Shared Responsibility: If anything goes wrong or fraud or chargeback occurs, the business is not responsible for it entirely. Instead, the payment gateway provider will fix or update the service to deal with the problem. Based on the client’s feedback, a gateway provider can work towards improving the platform. While all this happens, the business can continue concentrating on its core services and regular affairs.
Choosing the Best White Label Payment Gateway
These are a few essential features to look for in a white label gateway:
- Sell the service directly to the merchant, including anti-fraud tools and customer service
- Allow the brand to market its service under the company’s name
- Leave some room for gateway customization, like fonts, colors, URL, checkout page, logo, etc.
- Infrastructure already built, including security, functionality, and design
- A simple plug-in or API to integrate the payment solution for the customers
White-label payment gateway providers give businesses their professional skills and talent to create a customized payment platform. It helps maintain a high ROI while allowing the company to retain its brand name.