Payment processing is bound to happen in every business deal but in this digital ecosystem, simplification continues to be done without compromising on security. In fact, in many cases, payment platform providers continue to provide more solutions to minimize the risk of money theft or fraud. Payment trends are also moving towards brand-based personalization. One of which is represented by so-called white-label gateways.
But what is a white-label gateway?
Basically it is a form of payment processing service. It offers branded payment processing solutions without having to go through technology development from scratch. For your information, developing software or applications from scratch can be quite costly, hence in many cases using “a ready-made platform” is an advantage.
As an online business payment solution, this gateway can be customized with the company’s brand and user interface. So it can give companies more control when they handle payments from customers for purchased products.
What are the key points about white-label gateways?
It’s fast
Payments through white-label gateways are usually faster than through other payment platforms. Customer satisfaction is also partly determined by the speed of payment processing and convoluted transactions are often seen as a serious annoyance by consumers.
Customized
White label gateways are synonymous with customization of the payment interface to suit an enhanced customer experience. On a practical level, customers can choose brands they are familiar with for transactions. This is fun and definitely a plus point.
Better integration
A good white label gateway service usually allows good integration of the service with existing business systems, such as ERP systems and CRM software.
Good scalability
White-label merchant services tend to be great in terms of scalability and that is related to the increase in the number of transactions that usually occurs as a company grows in popularity. Good scalability means that the increase in the number of transactions does not degrade the quality of payment processing and does not increase costs significantly (there may be an increase in costs as the volume of transactions increases but it will not overwhelm the company).
Good control
A white label gateway service usually includes control features for its users. This means that users can know the important parameters of the payment process in real time. For example, transaction trends, financial performance, analysis of payment processes that have occurred, and so on. These insights are important for users to evaluate the performance of the company including its products and plan further strategies to increase turnover.
It’s secure
In general, reputable white label gateway services comply with various standards that apply in the industry, for example, the most popular is PCI DSS or the acronym for Payment Card Industry Data Security Standard. Security covers a lot of things including customers’ personal data.
Using a white-label gateway service can relieve a company of some of the routine tasks that need to be done to ensure that all payment transactions go through as they should. Thus, the company can spend more of its valuable time trying new ideas to improve product quality, improve services, make savings in other sectors, and other things to increase the company’s bargaining value in the eyes of users. Hopefully, this short article has given you valuable insight into the important role of white-label gateways in today’s financial transactions. Thank you for reading this short article and have a great day!