What is White Label Payment Gateway?
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If you’re an e-commerce business accepting payments online, you should consider working with a white-label payment gateway provider. Personalization has become an important factor in attracting modern customers. Companies analyze large amounts of data to get customer insights in order to create a personalized experience for them. This entails sending thoughtful emails, offering special discounts, using cookies for suggestive ads, and more.
However, one thing that most companies often overlook is their payment gateways. While their websites and apps are in line with the brand’s overall theme, their payment portal page looks exactly like their competitors. Maintaining your brand identity should be a proactive process followed from first contact to final payment. And this is where a white-label payment gateway becomes useful.
What does a White Label Payment Gateway Denote?
A white-label payment gateway is basically a customizable payment gateway that allows you to place your brand’s logo and image on the payment gateway page. This personalized payment solution contains all the features that a traditional payment gateway provides. It takes it a step further by incorporating your business identity until the end of the payment funnel.
Who should use a White-Label Payment Gateway?
With the increase in online sales and e-commerce businesses, the need to put a personalized touch on the customer’s journey has become vital. The relationship between sellers and consumers is dwindling because of the presence of multiple players in any industry. This has increased the competition, and using a white-label online payment gateway will give you the edge your business needs.
Contrary to popular belief, white-label payment gateways are not just limited to big brands with more budget or startups with the “unicorn” tag. A personalized payment gateway will draw attention to your brand and its identity whenever a customer completes a payment. Be it landing on your website, browsing through different products, or paying for them, consumers will be exposed to your brand’s logo and theme throughout the entire process. Now the next time they want to buy the same product or something similar, your name will pop first in their minds. This is just one of the benefits of using a white-label payment gateway for your business.
Top Benefits of a White-Label Payment Gateway
Businesses can use a white-label payment gateway and customize its look and feel rather than spending tons of money developing their own payment gateway, testing it rigorously, and launching it once everything falls into place. Here are some more advantages of using a white-label payment gateway.
- Improve your brand’s visibility
In addition to the website, social media pages, apps, and other channels, a customized integrated payment gateway solution also helps improve your brand’s visibility to consumers. Customers tend to spend a significant amount of time on the payment page trying to figure out which method to use or entering the card details. This makes a white-label payment gateway that contains your brand’s logo, color theme, and other eccentricities a great way to ensure top-of-mind recall. Customers will subconsciously think about your brand when they want to buy the same product or something else listed on your website. A white-label payment gateway can be a great option if you’re running a business with several verticals, each of which complements the other.
- Increase customer loyalty
Redirecting to a third-party payment gateway raises questions and suspicions for several users when customers are trying to make online payments. This is particularly applicable to customers who have come to your website for the first time and need more clarification about the site’s credibility. This could be one of the most significant reasons you face high cart abandonment rates.
With the help of white-label payment gateways, you can instill trust in such users by showcasing your brand’s logo and clearing any doubts customers may have about paying online. Now that the customers know it’s the same merchant they are paying, they tend to feel more confident and reassured. It helps in building loyalty among customers as well.
- Effective risk and fraud management
One of the biggest benefits of choosing a white-label payment gateway is the level of security it provides to its clients. With anti-fraud and risk management mechanisms in place, you can ensure that your customer’s personal and payment data remains safe and away from the reach of any unethical hacker or cyber-attacks. If not in-house, some payment providers can also integrate third-party fraud detection tools to enhance security.
- PCI-DSS Compliant
Payment Card Industry Data Security Standard, or PCI-DSS compliance, is a set of policies necessary for all card brands to follow. These policies have been created to safeguard card transactions across platforms and avert misuse of any personal information related to cardholders.
For a business owner, it is imperative to understand whose responsibility it is to ensure PCI-DSS compliance, yours or the payment gateway provider.
- Multiple payment options
A majority of white-label payment gateway providers have direct alliances with different acquiring banks and support multiple payment methods as well. Customers in 2023 will have several payment options at their disposal, and you wouldn’t want to let go of a potential customer at the payment stage just because their preferred method was unavailable. The need for online payments is increasing, and incorporating a payment gateway that allows users to pay via any method they want is not just an exception but has become an expectation.
Conclusion
Now that you know what a white-label payment gateway is and it can benefit your organization, you must be wondering which vendor to choose. A personalized payment gateway will not only improve your brand’s reputation but will also help maintain a high ROI. Hence, choosing the correct payment gateway provider can be crucial for the success of your business.
If you’re a merchant based in the UAE or the Middle East, PayTabs can be your next payment gateway provider. We are an innovative payment processing and fraud prevention company that aims to help their clients increase revenue and profits with the help of advanced technologies. Integrating our payment gateway into your website or app is straightforward and allows you to start scaling your e-commerce business instantly. With our merchant dashboard, you can send, receive, or share invoices through different media channels and offer multiple payment options to your customers.
