Content
- White label payment gateway model: options to choose from
- Why Choose White Label Payment Gateway as Your Commercial Solution
- Products
- Pros and Cons of Using a White Label Payment Gateway
- Two ways of setting up payment gateway
- Cons or Disadvantages of payment gateway:
- They can’t handle spikes in transactions
Thus, the response time is delayed decreasing the speed of the website. HTTPS does the process of data validation through handshaking. All of the data transfers that are taking place and components such as sender and receiver are validated. Only if the validations are successful that data transfer occurs.
- Basically, a white label payment gateway is gateway product which you can offer your customers under your own brand.
- It acts as a gate for another network.
- A payment gateway is much faster than manual processing and customers can make a purchase without the inconvenience of long wait or lines.
- You just take the readymade white label solution, put your logo and brand name on it, configure it, and become the gateway provider for your customers .
- Money is normally deposited into a bank account automatically.
Gateway is a kind of networking device that interconnects two devices in different networks so that they can communicate with each other. It acts as a gate for another network. So here this article gives the benefits of payment gateway to better understand this topic. It is more convenient, and responses arrive faster. There is no need to call American Express directly and wait for assistance, the in-house support team responds to all inquiries. Some providers have platforms where business owners can register and view all information there, saving additional time and having full control over everything.
White label payment gateway model: options to choose from
For example, you can handle credit card payments in various currencies using this payment gateway. In addition, you are allowed to sell these services directly to your clients through the payment solution. Businesses seeking white label credit card processing. Many white label payment gateways make it possible for you to offer credit cards to your customers, complete with your company logo.
Companies that build online gaming platforms and rent them out or sell them off to entrepreneurs for a profit benefit, too, like gaming websites and a white label casino. You can easily find a provider online and go through reviews and what it offers to businesses of all sizes and in all domains. If your business requires reseller services, consider the advantages of a white label payment gateway. Payment gateways work white label payment gateway by capturing payment data from the customer, transferring it securely to the acquirer, or returning the declined payment to the customer. The payment gateway also validates customer card details to ensure that the merchant’s bank account has sufficient funds to cover the purchase. The payment gateway makes sure that the customer’s credit card information is encrypted, ensuring a secure transmission of payment data.
With White Label, customers retention improves, and customer confidence boosts when making payments. Not everyone likes to be redirected to a different website for payment; for some, it could evoke feelings of suspicion and dissatisfaction. White label payment gateways help to reassure customers of their security and your brand’s authenticity. You are exposed to opportunities for business growth without being saddled with the stress of embarking on a payment startup.
Not to mention that merchants receive transactions faster from the processor and it is known that everyone wants this. Doing business online is not always easy, especially for start-up companies and those that only have physical shops. There are many implications and accepting credit cards and debit cards is a necessity. Well, startup merchants and SME, usually, opt for hosted gateway solutions, almost completely maintained by third parties. As they increase their processing volumes and customer bases, their needs become more sophisticated.
Why Choose White Label Payment Gateway as Your Commercial Solution
Lyras Payment Gateway offers a secure, user-friendly and seamless platform for collecting online payments in real-time. It is compliant with PCI DSS 3.2.1 standards and provides fraud and chargeback management. It provides 100+ payment methods and different payment options like EMI, split payments, etc. Merchants can view and manage payments with a powerful back-office system. Redirects the customer from an e-commerce platform/portal/application to the payment gateway where the customer selects the payment option and fills in the card details. In this case, designing the page or validations is not required.
You can build your website and use your branding to promote and benefit from a payment gateway. If you love the way the gateway operates but feel that it may be more efficient and successful if you were to sell it yourself, you can promote it. Though you didn’t produce it yourself, you will still receive a small percentage of the profit when customers use it. Basically, it’s a form of a high-tech affiliate program. Integrated payment gateways can improve the checkout process of your website. With fewer steps and less information required, you can increase the conversion rate of your website.
Products
You can also check with your website developer for the best payment gateway. This will help you choose the best payment gateway for your business. Most white label payment gateways are difficult to customise. So even though you’re technically in control, you may have few options in terms of how the checkout experience looks and functions. Since a payment gateway is such a crucial part of an e-commerce platform, it is imperative to understand it from the security aspect.
If your customers would benefit from receiving payment processing capabilities as part of your service, a white label gateway might be for you. Often, the gateway itself can be the business. The white label provider will still earn the bulk of the profit, but you’ll gain a small commission for something you technically had no part in building. Think of it like a really high-tech affiliate service. Businesses that use multi-level marketing strategies. It is possible to set up a white-label payment gateway that will allow you to build a store for each of your customers if they sell products for you rather than themselves.
Pros and Cons of Using a White Label Payment Gateway
The card that has a chip in addition to the magnetic stripe and NFC technology is, by far, the most advanced offline payment method the customers can enjoy. Although chip transactions are fast as well, they still need a few seconds more to complete one. Thanks to the variety of EMV card benefits, more and more users choose them to pay for goods/services. The chip may request the processing to go online. Then the terminal builds the online connection.
The request comes back with the issuer authentication, and the terminal sends it to the chip to make the approval. One of the major benefits of HTTPS is its data encryption. The data that travels through HTTPS always gets encrypted. Thus, the informations are highly secured. Even if the hackers manage to get those informations, they will not be able to misuse them since the data is already encrypted.
Hirav Shah has an astounding global presence with clients based across various business sectors. Ensure that the provider offers some customisation freedom. Ideally, you should be able to customise your logo, checkout page, URL, colours, fonts, and other embellishments so that everything remains consistent with your brand.
E-commerce platform takes the customer to a payment gateway where the customer will enter relevant card details. If you want to avoid slowdowns, that occur when multiple businesses are sharing a white label payment platform, you might want to go with a dedicated payment gateway instance. So here this article gives the Advantages https://xcritical.com/ and disadvantages of payment gateway to better understand this topic. A payment gateway is much faster than manual processing and customers can make a purchase without the inconvenience of long wait or lines. Of course, payment cards with the microchip are versatile. Users can choose it for contact and contactless payments.
Two ways of setting up payment gateway
In most cases, chargeback fees are nonrefundable and collected by the payment gateways and acquirers when a dispute is filed. Because the fee is non-refundable, many acquirers make this fee non-refundable. However, if the chargeback is successful, merchants can get back the cost of the goods they sold. So it’s definitely worth looking into the details of this fee and its impact on your business.
A white label payment gateway is a solution that allows you to extend payment processing services to your customers under your own name. It has all the features of a traditional payment gateway—e.g. You can accept and process credit card payments in various currencies. But a white label gateway takes things one step further by allowing you to offer these same services to your own customers. A white label payment gateway is a payment solution used to offer payment processing services to your customers under your brand.
You should also make the payment gateway process as convenient as possible, because conversion rates depend on it. This technology can also reduce your overhead costs. Depending on your business model, you can partner with global payment gateways to expand your reach. In addition, they can help you build relationships with other merchants who have complementary business models. If your business depends on customers selling your product on your behalf, a white label payment gateway can enable you to set up each customer with their own store.
Cons or Disadvantages of payment gateway:
This eliminates the need to have employees that make the sale process happen, scan products, add them in the cart for the client and point out the final costs. Consumers have all the information at their disposal and decide what they want to purchase. Hirav Shah explains that making payments online seems easy for consumers and for businesses at first sight, but there are many parts involved in the process.
Pros or Advantages of payment gateway:
Let’s say, for example, that you operate your own ecommerce website builder. With a traditional payment gateway, you can accept payments online for everyone who uses your platform to build and host their business website. But if you use a white label gateway, you can also enable those customers to accept credit card payments on the ecommerce sites they build. Best of all, you get a small piece of every sale they make. Companies looking for credit card processing under their brand name. Several white-label payment gateways allow you to offer clients the option of using a credit card with your company brand name.
They can’t handle spikes in transactions
Generally gateways on default are installed on the routers itself. This makes it more difficult for the network administrators to install or configure them. Apart from this the cost involved in the implementation process is too high. Gateways are known to posses improved security since they allow user authentication. Forms of security such as User ID and Password can be imposed on gateway so that all the unwanted access will be prevented. This not only protects sensitive information, it also ensures that only the authorized users have access to the informations.
Flexibility and robustness are the fundamental principles of Paymentech industry. So, payment software companies are trying to follow them. 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. If you need to customize the product according to new specific needs and challenges, you can license its open source code version and introduce any changes that you require. A white label gateway may be right for you if you want to offer payment processing to your customers as part of your business.
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