To process transactions on their websites, online businesses require a payment gateway, which is a secure portal where customers can enter their payment information. Unlike traditional payment gateways, white-label payment gateways allow businesses to customise the online checkout process with their own names, logos, and brand components without having to build their own systems from scratch. Many payment processors now provide white-label checkout tools or open software for developers to fully customise the checkout process, and some companies specialise in white-label products.
The advantages of a white-label payment gateway
Can help to improve brand consistency
Because the customer does not have to leave the business page to checkout or see multiple brand logos and layouts, a white-label service increases brand recognition and consistency. This can make your online business appear more organised and trustworthy.
It is relatively cheap and convenient.
A customizable platform can make online store customization much easier because businesses can use advanced tools without having to hire someone to code a custom checkout page.
The disadvantages of a white-label payment gateway
Coding is required.
Most payment service providers offer checkout customization via the platform's application programming interface, or API, which can be difficult to use without developer experience. Platforms designed to be white-labeled, such as Dwolla or WePay Clear, may be easier to use, but they may offer less flexibility than payment giants such as Stripe.
In-person options may necessitate the use of a separate processor.
Many customised white-label payment gateways and payment service providers cater to online businesses. Payment services that provide brick-and-mortar payment processing are less personalised, so businesses may have to compromise or select a separate option.
Who Can Make Use of It?
Anyone in the world with an email address and a website can use the white-label payment facilitator. This means that if someone purchases something from your store (generating revenue for you), they will return it to their wallet rather than PayPal.
This service is available for any website or business, including:
Retail establishments (selling online)
Online stores
Blog stores (where you sell your products)
What Does It Contain?
The following are included in the White label payment facilitator offering:
The ability to accept payments through your website (with full stats available to you)
The difference is that your customers will be directed back to your domain/website rather than a PayPal one.
There are no contracts, so if you want to switch processors in the future, you can simply leave your account unattended.
PayPal will not appear on your customers' credit cards or bank statements if you use a white label solution.
There are no hidden fees or monthly fees associated with this service.
Currently Available Payment Processors
There are currently a few payment processor options available. They all, however, have their own set of requirements and constraints. One of the most popular is PayPal, but obviously, this means you'll be subject to PayPal's terms of service and liable for their rules.
The Digital River:
Digital River is a payment processor that primarily provides shopping cart solutions to website owners, allowing you to process orders on your site. They do, however, offer merchant accounts (with low transaction fees) as well as white label payment solutions.
Pros/Cons:
The good thing about this payment processor is that the TOS does not hold them back like most other payment processors do. This means you can have your own TOS, which will have a greater impact on your customers.
The disadvantage is that there are more fees involved, which your customer should be aware of, especially if they are paying for a digital product.
Other Payment Gateways:
Of course, there are other payment processors. However, these are the most common ones that have been observed to be used. Again, some of them impose TOS rules on their customers, while others do not.
What Exactly Is A White Label Solution?
PayPal will not appear on your customers' credit cards or bank statements if you use a white label solution. This way, your customer can easily forget they're using PayPal and instead focus on the site you built for them.
There are no contracts, so if you want to switch processors in the future, you can simply leave your account unattended. You will not be charged any monthly fees. You will be assigned a payment facilitator who will contact you on a regular basis to provide updates and service.
What are the basic requirements?
The requirements are simple, and you must have a website into which PayPal will be integrated. Most people will find this simple, and if you run an eCommerce store or a physical store that sells online, it shouldn't be too difficult for you.
This process requires that your store be at least one day old. Otherwise, it may fail.
The other requirement is that you have an SSL certificate, which you must obtain before using the white-label payment facilitator.
Conclusion:
Payments are a direct link to money, and they can cause problems with your business and income if handled incorrectly. The white-label solution allows you to accept payments on your website while keeping everything separate from the main site. This means that switching payment processors later is as simple as cancelling one account and opening another.
It would be as if you had never done business with them at all. As a business owner/website owner, you want to make it as simple as possible for your customers, which means saving them time, which is what they want. It also means that your customers won't have to search for or enter their account information into your website because the white label solution will do it for them.
The white-label solution allows you to do so without breaking your back or your wallet. There is a monthly fee that must be paid. However, it is minor, and the majority of people will agree that the benefits far outweigh any costs. It means you have complete control over your payments, and it makes no difference whether you use PayPal or another provider. Everything should go as planned as long as they provide white-label capabilities.