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Shaw Merchant Group
Friday, March 08 2024
Best White Label Payment Gateway Reseller Options

Are you a merchant services representative or an Indendent Sales Organization that’s looking to make it to the big leagues of the merchant industry; the payment gateway providers? Well, it might require some serious investment to set up a complete infrastructure that can even break your bank. However, there’s an alternative - white label payment processing.

It’s a low investment, low-risk solution allowing you to set up your own payment gateway without having to manage any technical aspects of the payment gateway. Curious? Read on to know more about a regular payment gateway, how a white label payment gateway is different and what main advantages it can offer you.

Let’s Discuss What Payment Gateways Do:

Before we move towards the payment gateways for white label merchant services, let’s talk about the regular ones to ensure everyone reading this is on the same page. Payment gateways are crucial for every business for credit card transaction processing. When the card is swiped against the machine, the payment is cut and sent through the payment ‘gateway’ to the processor for authorization. This additional gateway ensures the security of customer’s data and the authenticity of their transaction.

Once it’s cleared, the information of the transaction is added to the credit card networks and sent to the bank that issued the card to the user (customer). If everything is correct and there’s a balance available to be charged, the transaction is approved; otherwise, due to any reason, it can get declined.

How Payment Gateways Do What They Do?

Payment gateways equip the merchants with interfaces and tools to collect the information for credit card transactions from the customers. This can be done in several ways. Most of the gateways offer APIs (Application Programming Interface) that enable the websites, business software, mobile applications, and POS (point of sale) device to connect and send transactions right to the payment gateway for authorization.

They also offer virtual terminal abilities allowing credit card info to be input directly in a webpage form, which can then be submitted for a transaction.

You can also find a range of value-added functions in payment gateways allowing merchants to easily manage their business and transactions. These added features can be fraud detection, recurring billing, tokenization, PCI compliance, and more.

Merchant Acquirers & Payment Gateways:

Merchant acquirers and ISOs (Independent Sales Organizations) act as agents/salesperson of the payment gateways by reselling their services to the merchants. ISOs or merchant acquirers employ a team of salespeople and support agents to connect with merchants, nurture them and eventually sell them the payment gateway’s services and equipment like POS machines.

Since it doesn’t really make sense for the merchant acquirers to build and manage their own gateways, they mostly partner with existing payment gateway service providers and get a small chunk of the pie. However, there’s an alternative, providing ISOs or merchant acquirers with opportunities to set up and differentiate their own payment gateway brands. This is where a white label payment gateway comes into play.

What’s a White Label Payment Gateway?

With the help of a white label payment gateway, you can get similar features and functions and perform the same duties as a payment gateway provider. However, there are many distinctions and benefit with the white label service. While the regular gateways get into contracts with the ISOs and merchant acquirers to resell their services, white label gateways allow and also prefer the ISOs and merchant acquirers to sell their services as their own with their own branding.

The merchant services resellers and ISOs have the liberty to use their logo, play with the branding and color scheme to match it with their own, and service the customers however they see fit.

Becoming a White Label Payment Provider:

If you become the payment gateway provider rather than reselling someone else’s, you’ll have several unique opportunities at hand. As the white label payment facilitator (Payfac), you can set your own profit margins and actively get your share of the revenue stream. This also means you will have the freedom to set up your very own brand, market it and get visibility rather than living under someone else’s shadow. You will have control over customer experience, and how you want to service them, which means direct customer acquisition.

Here are some more benefits that you experience when you become a white label payment provider:

  • You will not have to set up or manage the service by yourself. All the heavy lifting and technical aspects like infrastructure and security compliance will be taken care of for you.
  • You will get access to the shopping cart integrations processor connections of the platform, enabling you to offer solutions to a wider merchant group and take care of their needs.
  • You will get total control over the customer relations, meaning you will establish the rules for how your gateway equipment and products will be serviced and sold.
  • Every effort put in by you and your team into the promotion of payment gateway technology will enhance the worth, reputation, and value of your brand.
  • The use of a white-label payment gateway will solidify your relations with your merchants and put you in the position to meet their needs better.

Who White Label Payment Providers Partner With?

First things first, you need to know if you have the kind of business that can benefit from the white label payment provider. There are four kinds of resellers that will benefit from the white label model the most:

  • ISOs – Independent Sales Organizations
  • ISVs – Independent Software Vendors
  • VARs - Value Added Resellers
  • PayFac – Square or Paypal

When opting for a white label payments provider, work with someone having experience and a good track record of working with these business types.

Finding a Good Quality White Label Payment Services Provider:

To get the most value out of your while label gateway experience, it is imperative that you work with the provider offering exactly what you need so you can meet and exceed the needs of your merchants. To find that kind of service provider, here are a few questions you should ask:

  • Will you get access to their support service, guides, and training materials?
  • Do they have an intuitive payment gateway platform? You don’t want something that’s buggy and complex.
  • Can you rely on their platform? It should have 99.99% uptime; once it goes down, your payments won’t be processed until it's back on.
  • What about the security level of their platform? It should be encrypted with the latest and most impenetrable technologies.
  • Does it sell its services to the merchants directly?

Branding on Your Payment Gateway:

You will require a highly flexible platform that allows you to leverage your or your designer’s creativity and customize every aspect of the product/service. You would want to make the payment gateway your own in the truest sense of the word. Therefore, make sure to find out the branding options they have available that’ll allow you to brand your payment gateway exactly the way you want. Here is a small list of some things you should be able to make your own:

  • URL
  • Color scheme
  • Logo
  • Marketing guarantee
  • Font
  • APIs
  • Login portal
  • Brochures

Make sure to ask about all of these features’ customizability, so you know what to expect from the white label provider and if you want to go with them.

Types of Merchants on Your Gateway:

If you’re wondering what kind of merchants I can put on my white-label payment gateway, then the answer is; anyone you want. However, not every provider agrees to this, so make sure to ask this beforehand. The payment gateway provider must be able to offer you the liberty to get anyone on board and do business with them.

Some Final Considerations:

You will also need to find out about the third-party integration options, SDKs, and API functionality of the payment gateway. Some more important things to consider are:

Who will own the website’s domain name?

• Who is going to bill the merchant?

• Who will manage the SSL Certificates?

• What kind of shopping cart integrations will you get?

• How the customer support to merchants will be handled?

• What kind of merchants will you be able to provide a platform to?

Final Words:

Remember, the best white label merchant services will have incredibly useful features to help you crush the competition and get as many merchants on board as you can. This can only happen if you have the freedom to have any merchant you want and your platform is robust enough with tons of useful features that attract them.

Posted by: Admin AT 11:38 am   |  Permalink   |  Email

Starting a payment processing company can be a lucrative and rewarding venture. With the rise of e-commerce and online transactions, the demand for reliable and efficient payment processing services has never been higher. However, entering this competitive industry can be challenging, especially for newcomers without the necessary resources and infrastructure. That's where white label payment processing solutions come in.

White label payment processing solutions allow entrepreneurs to start their own payment processing company without the need to build their own technology or infrastructure from scratch. This article will outline the steps and considerations involved in starting a payment processing company with white label solutions.

1. Research and Planning: Before diving into the payment processing business, it's crucial to conduct thorough research and planning. This includes understanding the market demand, competitors, target audience, and legal requirements. Identify the specific niche or market segment you want to target, whether it's small businesses, e-commerce merchants, or specific industries.

2. Choose a White Label Payment Processor: The first step in starting a payment processing company with white label solutions is to choose a reliable white label payment processor. There are various white label payment processing companies in the market, each offering different features and services. Some popular white label payment processors include PaymentCloud, T1 Payments, and Payline Data.

When selecting a white label payment processor, consider factors such as pricing, customer support, technology features, and scalability. Look for a processor that offers a wide range of payment options, including credit cards, debit cards, ACH transfers, and mobile payments. Also, ensure that the processor is compliant with industry regulations and standards, such as PCI DSS compliance.

3. Customize Your Branding and Services: Once you've chosen a white label payment processor, it's time to customize your branding and services. This includes creating a logo, website, and marketing materials that reflect your brand identity. Define your value proposition and unique selling points to differentiate yourself from competitors.

Additionally, consider adding value-added services such as fraud prevention, chargeback management, and analytics reporting. These services can help attract and retain customers by providing added convenience and security.

4. Set Up Merchant Accounts: To process payments on behalf of merchants, you'll need to set up merchant accounts with acquiring banks. An acquiring bank is a financial institution that processes debit and credit card transactions on behalf of merchants. When choosing acquiring banks, look for ones that offer competitive rates, reliable services, and quick approval times.

5. Integrate Payment Gateway: A payment gateway is a technology platform that securely processes and authorizes online transactions. Integrate your white label payment processor with a payment gateway to enable seamless transactions for your merchants. Ensure that the payment gateway is easy to use, reliable, and supports multiple payment methods.

6. Provide Customer Support: Excellent customer support is essential for the success of your payment processing company. Offer multiple channels of communication, such as phone, email, and live chat, to address customer inquiries and issues promptly. Train your support team to handle technical issues, billing inquiries, and general questions effectively.

7. Market Your Services: To attract merchants and grow your payment processing company, invest in marketing and advertising efforts. Utilize digital marketing channels such as social media, search engine optimization (SEO), and pay-per-click (PPC) advertising to reach potential customers. Highlight your unique value proposition, competitive pricing, and superior customer service in your marketing campaigns.

8. Ensure Compliance and Security: As a payment processing company, you are responsible for ensuring compliance with industry regulations and standards. This includes adhering to PCI DSS requirements, safeguarding customer data, and preventing fraud and chargebacks. Implement robust security measures, such as encryption, tokenization, and fraud detection tools, to protect sensitive information and prevent unauthorized transactions.

9. Scale Your Business: As your payment processing company grows, focus on scaling your operations and expanding your customer base. Invest in technology upgrades, infrastructure improvements, and staff training to support increased transaction volume and customer demand. Continuously monitor market trends and customer feedback to identify opportunities for growth and innovation.

In conclusion, starting a payment processing company with white label payment processing solutions can be a profitable and rewarding endeavor. By choosing a reliable white label payment processor, customizing your branding and services, setting up merchant accounts, integrating a payment gateway, providing excellent customer support, marketing your services, ensuring compliance and security, and scaling your business, you can establish a successful payment processing company in the competitive payments industry.

In today's digital world, online payment processing has become a crucial aspect of businesses looking to increase their revenue stream and provide a seamless payment experience to their customers. Payment gateway partnership programs allow businesses to offer white-label payment solutions to their customers through a trusted payment gateway provider. This comprehensive guide will delve into what a payment gateway partnership program entails, the benefits it provides, how to choose the best white-label payment gateway provider, the costs associated with white-label payment processing, and the steps to becoming a successful white-label payment gateway reseller.

What is a Payment Gateway Partnership Program?

A payment gateway partnership program is a strategic collaboration between a payment gateway provider and a business looking to offer white-label payment processing services to its customers. Through this program, businesses can leverage the infrastructure, technology, and expertise of a payment gateway provider to facilitate secure online transactions on their platform. The payment gateway provider typically offers a range of customizable services, such as payment processing, fraud prevention, tokenization, and reporting, which can be white-labeled to match the brand identity of the business.

Benefits of a Payment Gateway Partnership Program

There are numerous benefits to joining a payment gateway partnership program, including:

1. Increased Revenue: By offering white-label payment processing services, businesses can generate additional revenue streams from transaction fees and service charges.

2. Enhanced Customer Experience: White-label payment processing solutions provide a seamless payment experience for customers, leading to improved customer satisfaction and loyalty.

3. Brand Loyalty: By offering a branded payment processing solution, businesses can strengthen their brand identity and build trust with their customers.

4. Scalability: Payment gateway partnership programs allow businesses to easily scale their payment processing capabilities as their customer base grows.

5. Compliance: Payment gateway providers typically handle regulatory compliance, ensuring that businesses stay updated with the latest security standards and regulations.

Choosing the Best White-Label Payment Gateway Provider

When selecting a white-label payment gateway provider for your business, it's essential to consider several factors to ensure a successful partnership. Some key considerations include:

1. Technology and Infrastructure: Choose a payment gateway provider that offers robust technology and infrastructure to handle a high volume of transactions securely.

2. Customization Options: Look for a provider that offers customizable white-label solutions to match your brand identity and meet the specific needs of your business.

3. Security and Compliance: Ensure that the payment gateway provider complies with industry standards such as PCI DSS and offers advanced fraud prevention measures to protect sensitive customer data.

4. Customer Support: Select a provider that offers responsive customer support and technical assistance to address any issues or queries promptly.

5. Pricing and Fees: Consider the cost structure of the white-label payment processing services, including setup fees, transaction fees, and recurring charges, to ensure it aligns with your budget and revenue goals.

Costs Associated with White-Label Payment Processing

The costs associated with white-label payment processing can vary depending on the services offered by the payment gateway provider and the volume of transactions processed. Some common costs to consider include:

1. Setup Fees: Initial setup fees may apply to create a white-label payment processing solution tailored to your business requirements.

2. Transaction Fees: Transaction fees are charged for each payment processed through the payment gateway, typically a percentage of the transaction amount or a flat fee per transaction.

3. Monthly Fees: Some payment gateway providers may charge a monthly subscription fee for access to their white-label payment processing services.

4. Customization Fees: Additional fees may apply for customizing the white-label payment processing solution to match your brand identity and integrate it with your existing platform.

5. Support and Maintenance Fees: Ongoing support and maintenance fees may be charged by the payment gateway provider to ensure the smooth operation of the white-label payment processing solution.

Becoming a Successful White-Label Payment Gateway Reseller

To become a successful white-label payment gateway reseller, businesses should follow these steps:

1. Research and Select a Payment Gateway Provider: Conduct thorough research to identify a reputable payment gateway provider that offers white-label payment processing solutions tailored to your business needs.

2. Establish a Partnership: Reach out to the payment gateway provider to discuss partnership opportunities and negotiate terms for white-label payment processing services.

3. Customize the Solution: Work closely with the payment gateway provider to customize the white-label payment processing solution to match your brand identity and integrate it with your platform.

4. Market the Services: Promote your white-label payment processing services to your existing customer base and target new customers through marketing campaigns, social media, and other channels.

5. Provide Excellent Customer Support: Offer responsive customer support and technical assistance to address any issues or queries from your customers promptly.

6. Monitor Performance: Track key performance metrics such as transaction volume, revenue generated, and customer satisfaction to assess the success of your white-label payment processing services.

In conclusion, a payment gateway partnership program offers businesses the opportunity to expand their payment processing capabilities and provide a seamless payment experience to their customers through white-label solutions. By partnering with a trusted payment gateway provider, businesses can access advanced technology, customization options, and compliance measures to enhance their brand identity and generate additional revenue streams. By carefully selecting a white-label payment gateway provider, understanding the costs associated with white-label payment processing, and following the steps to becoming a successful white-label payment gateway reseller, businesses can leverage the benefits of a payment gateway partnership program to drive growth and success in the digital economy.

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