A right payment gateway partner can be the key to a company or brand’s success in today’s fast-paced and competitive market. Many businesses are often tempted by the idea of payments integration into their software or app. This can allow easy and safe handling of online payments for both parties and help in expanding the client base through national and also international market base.
Let’s learn more about a white label payment gateway, its features, and key benefits for businesses.
What is a white label payment gateway?
A white label payment gateway is a payment gateway mechanism that allows a business owner or a brand to easily process payments through their official name using third-party services. In simple terms, a company adds its logo to the customized payment solution.
Who can use a white payment gateway and ways to get it?
Today, all brands and businesses need to make use of such technology as it brings benefits like:
- Brand recognition
- Customer satisfaction
A white label payment gateway helps in retaining customers and enhancing their confidence in the services offered. Many people may feel suspicious or unsatisfied whenever a payment procedure redirects them to a different website. They could doubt the genuineness of the portal. As technology gets questioned by customers, a business owner can try to add his logo to the payment service and reassure consumers of the safety element.
With White Label, there is a possibility to increase reputation among customers. This, in turn, brings plenty of benefits and opportunities to grow one’s business without necessarily spending additional resources in establishing a payment gateway from start.
Businesses including online stores, e-commerce sites, gaming platforms, and also system providers make use of these services. All companies that want to accept online payments can consider adopting a White label payment gateway.
Benefits of a White Label Payment Gateway
The white label offers a business the opportunity to provide a payment mechanism for products or services without spending too much time or resources on designing, testing, developing, and launching it themselves.
Let’s explore the key benefits to expect from white labelling a Payment Gateway.
- Improved Brand Visibility - This benefit is especially noticed in businesses that offer multiple third-party services or products that complement each other. Take, for example, an Independent Sales Organisation that is engaged in reselling merchant accounts from banks, card terminals and e-commerce platforms. Using a branded payment gateway is a sure way to increase brand presence and awareness of the brand across multiple channels.
- Improved Customer Loyalty – For businesses that have happy and satisfied customers, adding a complementary solution to existing products will enhance customer’s dependency on the business. This can help in retaining them for a longer time. Value addition under the same roof is increasingly being preferred as more clients like to have a single point of contact for multiple products and services.
- Technological Advantage - A third-party payment gateway that is white-label focused will have the necessary expertise to develop the latest technology such as Apple Pay and Android Pay. With direct integrations and accreditations across numerous acquiring banks, businesses can benefit from readily available technology. Most resellers can enjoy putting their brands on the quality list and market them as their own.
- Easy Rebranding and Redefining - A payment gateway has to periodically go through accreditation, upgrading, code testing and updating of processes and systems. Thus, an easy solution is to opt for ready-to-market products which are already polished to easily brand and market products without any hassles.
- Saves Time and Efforts – Setting up your payment gateway might sound like a good idea, but unless the business has done it successfully before, the owners are probably not aware of all the required energy, time and resources for creating an original product. The business must also be aware that such a set-up requires constant upgrades along with regular monitoring.
- Shared Ownership - If anything goes wrong with the payment gateway, the business will not have to take the entire responsibility. Instead, the payment gateway works on setting up a fix or updating the service. The business can also enjoy dedicated support and provide feedback for improving the service. This allows the business to concentrate on regular affairs and core services.
A white label payment gateway allows businesses to utilise the talent and skills of professional developers. A white label payment gateway can provide excellent solutions for the final clients and help in maintaining a high ROI, while still letting the business have its brand in use.
- What is a white label payment gateway?
A white label payment gateway is a payment mechanism that allows a business owner or a brand to process customer payments through its official name while still using third-party services.
- What are the different types of payment gateways?
Some of the common payment gateways in India are:
- Citrus Pay Payment Gateway
- CCAvenue Payment Gateway
- PayUBiz India Payment Gateway
- Direcpay Payment Gateway
- Zaakpay Payment Gateway
- Instamojo Payment Gateway
- Bill Desk
- Atom Paynetz Payment Gateway
- Is white labelling legal?
White labelling is a legal protocol that lets one product or service be sold and rebranded under a different company's brand. A white label payment gateway is commonly used by businesses to allow customers to make payments using a third-party gateway but under the business’s brand name.
- Can I create my own payment gateway?
Yes, if you have your payment gateway, you can easily customize and add features as per your business needs and requirements. Many businesses prefer to create their payment gateway while many others like to use a third-party payment gateway.
- Is white labelling profitable?
White label payment gateway is profitable for businesses who do not want to invest in creating a payment mechanism from scratch.