What is a White-Label Payment Gateway by Payment Service Provider?

Let’s break the term into two parts: white-label payment gateway and PSP to flesh out the concept.

• White-Label model means buying an unlabeled solution from a producer, placing your brand on, and selling it as your own. With this model, a single product can be marketed by multiple vendors under different brands.
• A payment service provider is a company, you as a merchant, select to process your incoming and/or outgoing online transactions. It acts as a mediator between customer, merchant, payment gateway, acquiring and issuing banks.

Altogether, white-label payment gateway provider is extra-ordinary solutions, building your brand value and earning money.

Why choosing a white-label payment gateway provider is better than building your own

Several reasons prove white-label payment processing is much more efficient than developing its own solution. Here are some of them:

• Faster – Choosing a white-label PSP saves your time in many aspects such as developing software, getting the license, and other necessary acts. A white-label PSP makes it possible to get your PSP as quick as possible.
• Cheaper – White-label PSP cuts the cost you would have bear while you start your own payment gateway business. payment software such as license fee, audit fee, equipment fee, and others. Moreover, odds are You’ll waste some of the money, alongside with time and resources, because something may not work and some may go wrong. Considering everything, white-label PSP is a cost-efficient and cheaper solution.
• Takes minimum effort from your end – You do not need to put development effort from your end. The provider of the white-label solution you prefer for will assist you to get started. Besides, they will also provide you with technical support and maintenance as you use the solution.
• Secure and feature-packed out-of-the-box – There is a variety of white-label PSP provider available in the market. Competition brings innovation, so the provider regularly enhances their capabilities and offers you a wide range of supporting and safety features. It’s up to you whom you consider who meet the best to your needs.
• Helps you build strong relationships with your client – White-label PSP business relieves you from the technical burden, so you don’t need to worry about it and focus on building your relationship with your merchants and expanding your client base.

We should list the flaw of a white-label PSP compared to custom-made ones, but there is not too much to explore. First, it might lack customization and tweaking. Moreover, it makes you technically constant on the service provider. This is the reason, as, with everything related to payments, you should key in on security and liableness. You should do some research to get a reliable provider for the services. So that, you may even never face above mentioned cons.
For example, we offer reliable and trustworthy maintenance and support for clients along with feature-rich gateway service.

To know more about white-label PSP, give us a chance to fix a call for you from our experts.