The only thing that is constant is change, and in e-commerce, new technologies and trends seem to crop up all the time. One of the biggest sectors to grow in the recent past is white label payment processors. They provide a truly unique solution for business people seeking to effectively simplify online payment processing while maintaining brand consistency.
What are White Label Payment Processors?
A white-label payment processor is that kind of service provider that offers their processing under the brand name of the business. In other words, when customers make a purchase, all they will see during checkout is the name of the online store and not that of the white label processor.
Benefits of White Label Payment Processors to E-commerce
Here are some of the essential benefits which white-label payment processors provide to online stores:
- Increased Brand Coherence: With a white label processor, the checkout experience will be much more seamless and coherent with the brand. Since customers will not be redirected to another payment page, they will remain engaged throughout the buying process.
- Simplified Integration: Integration with a white-label payment processor is normally much easier compared to the integration involved with a traditional processor. In most cases, white label processors will have pre-built integrations that work easily with popular shopping carts and e-commerce platforms for easy setup and configuration.
- Greater Confidence of Customers: The customers are more likely to have trust in an e-commerce site using a recognizable payment processor. White label processors often partner with famous brands related to payments, which will help enhance customer confidence for making inputs of payment information.
- Value-Added Security: white-label processors take control of the security of payment processing infrastructure. This enables the e-commerce firms to avoid bearing the cost related to compliance for their complicated payment security standards.
- Streamlined Operations: White-label processors take charge of everything pertaining to the processing of payments—from authorization and settlement to handling chargebacks. This frees various resources and allows the e-commerce businesses to work on other areas, like marketing strategies for online businesses or even customer support.
- Greater Flexibility: White-label processors leverage a large array of payment options in credit cards, debit cards, and e-wallets, among others. It presents an opportunity for the various e-commerce players to cater to diversified customer preferences better.
- Lower Costs: There will be a small fee for a white label processor; this, however, can prove less as opposed to what such traditional processors charge. In addition to this, a white label processor may also save much of the development costs incurred by any e-commerce business by avoiding building and maintaining payment processing infrastructure in-house.
Factors to Keep in Mind While Choosing a White Label Payment Processor
While white label payment processors have a lot to offer, there are some things you should know before deciding on one for your e-commerce business.
- Pricing: Compare the fees that different white label processors charge and work with a pocket-friendly one.
- Security: Make sure to choose a white label processor that comes with a solid record in terms of safety and conformance to industry standards.
- Payment Options: Find a processor that features the options of interest to your audience.
- Customer Support: Whether you may have issues and require the assistance of the white-label processor, be certain that their customer support is top-notch.
The Future of White Label Payment Processors
White-label payment processors are going to play a vital role as the e-commerce continues to change. This review processor offers advantages that help an e-commerce business of all sizes accomplish its goals in today’s competitive environment of business. Since technology is ever-changing, we can see more and more features and capabilities adopted by white-label payment processors.
By using white label payment processors, e-commerce companies can freely give all their customers the comfort and safety of very fluent checkout experiences to increase sales and satisfaction.
