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A white label payment gateway is a gateway that has partnered with multiple merchants to offer its services. A white label payment gateway offers many benefits to its merchant partners, such as allowing the partner to have their branding on the login and website pages.
In addition, it allows merchants to work with more providers that would otherwise be too tedious to maintain relationships with. Companies often choose white label payment gateway providers for these benefits.
However, there are a few disadvantages to this that partners should be aware of as well. Since the merchant is sharing a backend with other merchants, they lose control over their system and data, which could cause issues when trying to manually process transactions, e.g., refunds or chargebacks. They also may lose out on investing in their technology and services.
What is the White Label Payment Gateway?
Businesses or agents can use a white label payment gateway as it offers an online shop for companies that don’t want to open their sites. White label service providers are responsible for building, marketing, and managing their clients’ payment pages.
White label payment gateways offer several benefits to companies without brand recognition or with a large enough client base to warrant investing in their e-commerce site. Typically white label providers make more money off transactions than individual merchants, so they can afford to cut deals with companies seeking white label payment services.
Pros and Cons of White Label Payment Gateway
The following points explain the White Label Payment Gateway
Pros & Cons:
Pros:
-One account to manage multiple eCommerce stores
-Access hundreds of free website templates through their extensive library
-No in-house technical skills are required to build and customize a site
-All the back-office functions such as accounting and fraud management are taken care of
-Access to a large number of shopping carts and eCommerce platforms
-Hosting and security services are taken care of by the service provider, saving money for their customers.
Cons:
-Cost per transaction is generally higher than merchant account providers
-No direct access to customers’ transactions data or insights (however, the white label provider would have all the data)
-Difficult to change payment service providers in the future
Challenges Faced By White Label Payment Gateways:
-Building Trust with Customers
-Service Provider Issues such as technical support, uptime, and lack of transparency
-Low Availability of Skilled Developer and Technical Support Resources in India.
-Difficulty in providing service if new features are required.
To get your own white label payment gateway,
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