As a result, modern payment software providers work hard to create secure, versatile payment options. Compared to the standard products and services offered by large, well-known companies, these startups’ solutions come in a broad range of sizes and shapes. But is it possible to stick to the same gateway solution throughout the whole evolution of your business? Flexibility and robustness are the fundamental principles of Paymentech industry. For instance, UniPay Gateway solution offered by United Thinkers is a processor-agnostic payment gateway platform, which can be the only one you will ever need. If your transaction volumes are not very large and your processing needs are more or less basic, you can use a hosted cloud version of UniPay Gateway technology.
The administration of a business may opt to implement a white-label payment system internally or move to a different supplier in order to have more say over the product’s features. Access a complete payments platform with simple, pay-as-you-go pricing, or contact us to design a custom package specifically for your business. By claiming the gateway as your own and exploiting it, you are placing your own identity and reputation in jeopardy. To minimize the risk of fraud, you must create anti-fraud filters for your PSP.
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Create your white label payment gateway, and provide your customers with low-cost, user-friendly, and open-book accounting of their financial transactions. To start providing trustworthy transaction services to your merchants, you only need cutting-edge technology that can interface without any complications with your front-end software. A white-label payment technology allows businesses to offer payment refinement assistance under their own brand. The gateway know-how handles the transaction’s payment action and security aspects, while the business retains control over the user interface and customer experience.
All upgrades are instantly available for you and your clients to benefit from. Understanding that security is one of the key requirements when it comes to online payments, we always seek to comply with the latest industry standards and adopt the most advanced security technologies. Our payment platform is equipped with cutting-edge intelligent tools and handy features to cater to even the most demanding financial institutions, payment companies, and businesses. Select a white-label charging variant that emphasizes security and implements industry-standard encryption while adhering to relevant compliance requirements like PCI-DSS. Additionally, the gateway should provide extra security markers such as fraud detection and risk management tools.
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Most resellers will appreciate placing their businesses on a list of the best in the industry and marketing them as such. Products can easily be rebranded or marketed – Payment gateways must be accredited, upgraded, code tested, and updated regularly. As a result, choosing ready-to-market products that have already been polished is a simple alternative for quickly branding and marketing products. Magnius is a payment gateway with the ability to integrate many third-party PSPs and acquirers. It appears that if you launch your payment gateway based on open-source code, you will not have to hire a team of developers. The truth is that you will still need to install the software, remove bugs and other user experience issues, and constantly manage the gateway’s development.
This is due to the fact that you are paying for pre-built usefulness with advanced features without investing in its development and upkeep. In other words, you get a lot of bang for your buck without breaking the bank. That is to say, the principal brand of the manufacturer may vanish but the company’s emblem and data remain on the customized solutions. If you are a Value Added Reseller (VAR), Independent Software Vendor (ISV), Independent Sales Organization (ISO), or another form of reseller, you can benefit from a white label solution.
Security and compliance
However, if you succeed in finding an open-source payment gateway on the Internet, make sure you evaluate its potential advantages and disadvantages beforehand. Integrating payments into your software makes your application extremely attractive. But the doors to economic paradise only swing open with the right payment gateway partner. One question many developers face is whether to white label their gateway integration or use a non-branded gateway in their software.
- As you see, businesses of various sizes and industries can benefit from a white label payment gateway.
- One of them is a white-label payment gateway, a brandable PCI DSS-certified payment platform with a multi-acquirer approach and advanced payment technologies.
- Usually, it is one of the most time-consuming and complex processes for a gateway provider.
- One example of a white-label payment option that supports multiple currencies and languages is Akurateco.
- Shared Responsibilities and Ownership – As long as the payment gateway is working correctly, the business will not be solely responsible or saddled with any problems.
- In total, the cost of developing a payment gateway from scratch will cost you around $1 million.
- This will allow the bank to effectively service online payments without worrying about the security of working with a third-party company and saving on fees.
It allows them to tap into new markets or target specific customer segments. However, the profitability of white labelling depends on various factors such as market demand, competitive landscape, pricing strategies, and effective branding and marketing efforts. It’s vital for companies to carefully evaluate the potential profitability https://www.xcritical.com/ and viability of white labelling in their specific industry and market context. A high-quality white-label payment gateway will be useful for almost every company involved in payment services. A functional solution for the automation of online transactions is able to bring provided services to a fundamentally new level.
Which kind of companies would be best served by using a white label payment gateway?
Payments are an integral part of your business and having the right partner to help you with this is a major advantage. As the world is shifting towards online payments, secure and fast transactions are a must-have. A customizable platform can make online store customization much easier, as businesses may be able to take advantage of advanced tools without hiring someone to code a custom checkout page.
In the worst case, if the code is not divided into classes or methods at all, it may seem so complicated that it will be easier to rewrite it than to modify the existing one. If you decide to give an open-source payment gateway a shot, you have to identify drawbacks as well. Otherwise, you will not only gain nothing from the open-source code but also waste your finances and efforts in vain on a low-quality payment system. If a problem arises with the payment gateway, the firm will not bear sole liability. Instead of this, the payment gateway implements a repair or updates the service. Additionally, the firm can receive personalised support and submit input for service improvement.
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Determine a white-label repayment withdrawal provider that provides dependable and prompt customer support, which includes training, documentation, and ongoing assistance. This will guarantee that you have access to help whenever you need it and can address any issues swiftly. White-label payment outcomes go head-to-head with traditional payment alternatives, but how do they stack up?
By purchasing this solution you will get a ready-to-use product that just needs to be outfitted with your own design. The software has all the necessary features and can be customized to suit your business needs if required. We’ll look at this solution in more detail white label crypto payment gateway later, but for now, let’s focus on the advantages and disadvantages of white-label payment gateways. To be able to process transactions, each payment gateway provider is required to achieve Payment Card Industry Data Security Standards (PCI DSS) certification.
Why Should You Choose A White Label Payment Gateway for Your Business?
In addition, the company must be aware that such a system requires continuous updates and monitoring. Adding a supplementary solution to existing items will increase customer loyalty for firms with pleased customers. As more customers demand a single point of contact for numerous products and services, value addition under the same roof is becoming increasingly popular. Before you leave, grab our free whitepaper and discover how switching to a white-label payment gateway can benefit your business. Now that we have covered the main benefits of a white-label payment gateway let’s move on to its drawbacks.
Therefore, although you are technically in control, you might not have many options to choose from in terms of how the purchasing process seems and how it works. You can collect payments online for everyone who uses your platform to construct and host their business website with a standard payment gateway. You can, however, enable those customers to take credit card payments on the E-Commerce sites they construct if you employ a white label gateway. We would be glad to get to know you better and demonstrate how you can increase your potential with our platform.
How does the EDC Machine provide payment security?
Decta itself is an acquirer, and therefore using this solution you will not be able to use multi-acquiring functions. Now that you are informed about how to set up a white-label gateway let’s look at its main advantages. Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page.