When comparing different payment gateway options, it is important to consider the availability of companies that offer “white label payment gateway” services. While this service may offer advantages to certain businesses, it may not be suitable for others. There remains a lack of consensus regarding the precise definition of a “white label payment gateway.”
What is the precise definition of a “White Label Payment Gateway”?
By utilising a white label payment gateway, you have the ability to accept payments from your customers while maintaining your own brand identity. It includes all the standard features of a payment gateway. You can easily accept credit card payments in multiple currencies. However, a white label gateway elevates the level of service by enabling retailers to offer the same services to their own customers. At the time of starting a payment processing company this is a very important matter.
Let’s take the example of you being in charge of your own e-commerce website builder. If you have a conventional payment gateway set up, you can accept online payments from anyone who uses your platform to create and host a business website. Additionally, you have the option to provide your customers with the ability to accept credit card payments on the custom e-commerce websites they create using a white label gateway. The best part is that you will earn a commision on all of their sales.
Which types of businesses benefit the most from using a white label payment gateway?
If you run a small online clothing store, it is unlikely that you will require a white label payment gateway such as Stripe or Braintree. This service is designed for merchants who are interested in offering their own merchant services, such as turnkey business providers. To support the growth of online businesses, particularly ecommerce startups, it is crucial to provide customers with a convenient payment method. This is especially true if you help aspiring entrepreneurs in setting up thriving online businesses. One notable example is the concept of “white label” casinos and gambling systems. These are developed by companies and then made available for rent or sale to independent operators.
For the Multinational Corporations
Multinational corporations engage in network marketing. If your business model depends on other parties selling your products, you can use a white label payment gateway to offer those third parties their own customised shopping portal with their own branding.
There are various subsets of resellers available
A white label solution can be beneficial for your business, regardless of whether you are a Value-Added Reseller, Independent Software Vendor, Independent Sales Organisation, or any other type of reseller. For that, having a proper idea about how to be a credit card processor is most essential.
Attention to all aspiring payment gateway service providers. The organisation that provides the service is often the same organisation that serves as the gateway. If you are intrigued by the way a particular payment gateway operates and feel confident that you can promote it more effectively than the current company, you have the freedom to create your own website and advertise the gateway using your own name and logo. Although the white label provider will retain the majority of the profits, you will still have the opportunity to earn a commision for a product or service that you did not create. Consider it as a form of affiliate marketing that is highly innovative and progressive.