What’s a white-label payment solution?

Vladimir Kuiantsev

CEO of Akurateco

 


Strengthen the brand’s image. Grow one’s reputation. Expand your global presence. It’s all possible with a single white-label solution. Businesses opt for white-label payment gateways now more than ever. And it’s only smart and here’s why.

What’s a white-label payment gateway?

A white-label payment gateway is a payment solution that allows companies across business niches to offer payment processing under their name while the real processing is performed by a third party.

Other sources call this “payment gateway branding” since companies get to use their branding on a payment gateway powered by a third-party technology vendor.

White-label payment gateway providers lease their technology directly to merchants, payment providers, or resellers. Typically, there are two main integration types  – HPP and API and a variety of payment methods.

Why choose a white-label payment provider?

Merchants opt for this solution for many reasons. We’ll only mention the most common ones.

  • No need to hire an in-house paytech team.

Developing a payment gateway for your company is expensive. A well-functioning system requires time and expertise meaning that a team of developers able to develop it will cost you dearly. And don’t forget that you need to pay for every connector to a bank or a payment method, anti-fraud, and chargeback prevention systems, etc. That’s why business owners opt for a ready-made solution instead of creating a paysystem from scratch using an in-house team.

  • No maintenance team.

Developing a system is one thing. But maintaining it and keeping it up and running is another one. And the more clients you have and the higher their sales volumes are, the harder it will be to constantly support it.

  • Grown reputation.

An easy-to-use, secure, fully-branded payment system is every merchant’s dream. By offering it to clients you grow your reputation as an expert. Moreover, by choosing a vendor with state-of-the-art technologies you grow your customers’ loyalty. And you can’t really put a price on that!

  • Security.

Experienced solution providers with proven hands-on experience in paytech have vast expertise in fraud and chargeback prevention measures. Therefore, with their technologies and experience, your transactions and payment data is safe. You don’t have to worry about data breaches, fraud, or even chargebacks.

While the core idea of a white-label payment solution is universal, a variety of offered features and services might differ. So, let’s see what you as a merchant should look for in a white-label provider.

What to look for in a white-label gateway?

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If you operate an international business, you need to have a variety of connectors. Source: shutterstock.com

  • Flexibility.

Fast system and connector integration matter. As well as dedicated customer service when it comes to solving immediate issues inside the payment system no matter the size of your business. Very often big vendors are more focused on the needs of big clients while the small businesses are left with little to no attention. So, before you seal the deal with any white-label payment provider make sure that they’re flexible and ready to meet your needs immediately. It’s important if you want to scale up your business and grow your global presence.

  • A number of connectors.

The more the merrier. That’s the rule of thumb here. If you operate an international business, you need to have a variety of connectors both to global and local banks and payment methods. This way, you’ll be able to cover the needs of a much wider audience and significantly grow your client base by helping them pay the way they’re used to.

  • Fast integration of new connectors.

One payment solution provider can’t cover all the bases. So, it’s okay for some much-needed connectors to be missing at the beginning of your collaboration. However, it’s only acceptable if the vendor offers immediate integration of the connector upon your request. Make sure they’ve got both the expertise in the development of connectors and the resources required for its implementation.

  • Local solutions.

The market is overcrowded with white-label providers offering international payment methods. But only a few truly understand the peculiarities of running a business in a certain region and provide their clients with local solutions. Thus, we strongly recommend finding someone who understands and meets the needs of local businesses by offering a variety of languages, currencies, payment methods, etc. and whose system is compliant with the local regulations.

Payment experts suggest choosing a white-label provider already functioning in the region to save both time and money. And remember that payment giants are typically reluctant to support small businesses and are less likely to meet you halfway. So, you might want to look for a smaller reliable white-label payment solution.

What’s Cashier technology?

Cashier is a SaaS payment platform that serves as a buffer between a merchant and a payment processor. Merchants get to connect multiple payment providers all in one place via this system.

Cashier aims for one thing – help merchants keep track of all the transaction data from multiple payment providers efficiently, from a single platform. But there is more to that.

Who benefits from Cashier technology?

First of all, high-risk merchants. Given the frequent changes in regulations occurring more often than one would hope, constant interruptions in payment acceptance are inevitable. It’s a catastrophe for any online business. Merchants integrated directly with payment providers that had fallen victim to updated regulations are doomed to face the interruptions and, as a result, lose money in missed sales or declined transactions. This would never be an issue for merchants using Cashier service since the technology vendor here ensures a variety of connectors.

Second of all, large businesses. No secret that large enterprises have to offer more than one payment method. As a result, they need to implement a variety of connectors. However, developing each one of them separately is expensive. And that’s where the cashier technology comes into play.

Finally, any international business. Catering services to a global audience means having to adjust and meet their payment needs. Therefore, local payment methods are in order. Thanks to a wide range of connectors, Cashier can be a great solution.

Why choose Cashier for merchants?

Why choose Cashier for merchants? Source: shutterstock.com

  1. Uninterrupted payment flow. In case of a regulation change when certain payment methods experience downtimes, the Cashier system will automatically switch a merchant to a different payment channel preventing any interruptions in the flow.
  2. Higher transaction approval ratio. State-of-the-art systems have an integrated smart routing feature. It analyzes the payment channels and sends a transaction via the ones that are most likely to let it through. This boosts the transaction approval ratio and increases the merchant’s credibility.
  3. Decreased number of declined transactions. Thanks to the cascading feature, merchants see a decrease in the number of declined transactions. Cascading distributes transactions not accepted by the bank between multiple channels increasing the approval ratio.
  4. Smart reporting. Users can easily customize the reports to their needs as well as see all the data from different payment channels gathered conveniently in one place. This is a “dream come true” functionality for large businesses.
  5. Advanced analytics. Real-time monitoring and advanced analytics are also among the top benefits of Cashier. You can easily keep track of all the data in the system and not let it slip through your fingers.

These are but a few benefits of Cashier.

However, it’s not a “one-size-fits-all” type of solution, no matter how good it sounds. It might not fit your business. Thus, if you run a small business, with a limited number of required connectors, targeting the audience inside a small region, Cashier is not your go-to solution.

Besides, it’s not suitable for companies with lower budgets (while at the same time it can be a real money-saver for larger enterprises).

All in all, analyze your type of business and see how well this technology fits in your business before you get your feet wet.

Conclusion

White-label payment gateways along with Cashier technology are a top-notch solution for companies willing to be in control of their transaction flow. They allow them to achieve the highest quality of traffic within the shortest time and minimize the risks of a sudden loss of a provider. If your company, be it a merchant, a payment provider, or a reseller, is looking for ways to grow your reputation and strengthen the brand’s image, consider implementing these solutions.


Vladimir Kuiantsev is the CEO of Akurateco, a cutting-edge SaaS platform with 70+ connectors catering to international businesses. With 10+ years of experience in the payment industry, he’s successfully founded and grown two major payment startups before becoming an executive at Akurateco.


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