Articles

White Label Payment Gateway Introduction for Merchant Acquirers

by Sahil Verma SIFIPAY

Payment gateways are critical components in the processing of a card transaction, in particular White Label Payment Gateway. When you swipe your credit card or make an online transaction, a payment gateway securely transmits payment card data to a payment processor for authorization.

The transaction information is subsequently sent to one of the credit card networks and forwarded to the credit card holder's issuing bank, where it is either accepted or denied. The response is then sent back in reverse to the payment gateway, which receives it and tells the merchant whether the transaction was accepted or refused.

How they do it

Payment gateways offer businesses tools and interfaces that allow them to gather credit card transaction information from their consumers. This can be accomplished in a variety of ways. Many payment gateways provide APIs, which enable websites, POS devices, company software, and even mobile applications to integrate and submit transactions directly to the gateway for authorization. They also provide virtual terminal features, which allow the credit card information to be immediately input into a website form that may submit a transaction.

Payment gateways can include a slew of value-added services that make it easier to manage a merchant's transactions and company. Recurring billing, fraud detection, reporting, PCI compliance, tokenization, and other services may be included.

Payment Gateways and Merchant Acquirers

To market payment gateway services to merchants, several payment gateways collaborate with merchant acquirers or independent sales organizations (ISOs). A merchant acquirer, also known as an ISO, is a business that offers merchant services and uses a sales staff to advertise such services to merchants. Most merchant acquirers get into reseller agreement agreements with payment gateways to market and resell their payment gateway services since it does not make sense for them to create and maintain their own payment gateway technology.

There is now an exciting alternative to the established and antiquated system of reselling and promoting someone else's payment gateway and brand; one that gives merchant acquirers or ISOs more control over their customer relationships while also assisting in differentiating their business from other merchant acquirers or ISOs with whom they compete for business. This is where the white label payment gateway option comes into play.

White Label Payment Gateways

How they Work

White label payment gateways provide comparable features and functionality as conventional payment gateways and play the same vital role; nevertheless, there are some significant distinctions and advantages with White Label Payment Gateway. Unlike traditional gateways, which contract with merchant acquirers or ISOs to resell their payment gateway's brand, white-label payment gateways enable, and even prefer, the merchant acquirer or ISO to brand and offer the payment gateway services as their own.

They may use their own corporate logo, change the appearance and feel to match their brand, and serve their consumers any way they see fit. In essence, why would a merchant acquirer or ISO market someone else's payment gateway when they themselves may be the payment gateway?

Benefits of White Labeling

Rather than simply being a reseller, becoming a supplier of payment gateway services provides distinct options. As a white-label service provider, you may set your own margins and become a more active participant in the income stream. It also implies that you will be able to create your own brand, advertise your own business, and enhance your own exposure rather than someone else's. You can also exert influence over your customers' experiences by providing them with the services and support they require to be successful while using your payment gateway.

You get the following advantages when you utilize a White Label Payment Gateway service:

1. You don't have to create or manage the service yourself, so the hard work, such as security, compliance, and infrastructure, is already done for you.

2. Having access to the platform's processor connections and shopping cart interfaces allows you to offer solutions to a larger range of businesses and meet their demands.

3. You have complete control over your client connections, which means you can decide how the gateway technology is offered and supported.

4. The time and effort you and your team spend on marketing payment gateway technology increase the value and reputation of your business.

5. Using a white label payment gateway enhances your relationship with your merchants and positions you to meet, if not exceed, their demands.

Finding a Quality White Label Partner

To get the most out of your white label payment gateway experience, it's critical to choose the appropriate supplier who can offer you what you need so that you can fulfill the demands of your merchants.

What Branding Options are Available?

To genuinely make the payment gateway service your own, you'll need a versatile and adaptable platform, so make sure to inquire about branding choices that will allow you to fully brand the payment gateway the way you want.

Inquiring about the customizability of these features can let you know ahead of time if the supplier provides the amount of control you require.

What Types of Merchants can be put on the Gateway?

The right response is "anyone you choose," but not every provider will agree. Make certain that the payment gateway allows you to board the merchants with whom you wish to do business and to deliver services to the vertical(s) in which you do business.

Keep in mind that the top white label payment gateways will have innovative features such as the opportunity to hire agents and other businesses to resell your rebranded gateway. So keep a watch out for the game-changers, such as a hierarchical structure and Multi-MID capabilities.

Start looking for a White Label Payment Gateway if you're ready to leave the established and archaic reselling method and get more active in fulfilling the demands of your merchants. It will allow you to advertise your own brand while also giving you more control over your client experience.



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About Sahil Verma Advanced   SIFIPAY

15 connections, 0 recommendations, 139 honor points.
Joined APSense since, August 27th, 2021, From Ghaziabad, India.

Created on Nov 25th 2021 04:35. Viewed 83 times.

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