Tutorial on Creating Your Own Online Payment System
It’s no secret that the white-labeling notion in the electronic payment processing sector has exploded in recent years. White-label payment processing providers, white label payment facilitators, and white-label payment gateway reseller models are all becoming more common. As a matter of fact, these models have successfully competed in the marketplace.
The white label payment gateway model is the subject of this essay. A business that provides a white label version of a third-party payment gateway is known as a reseller or supplier. On the other hand, unlike with other payment gateways, you may add your own logo to this one. Therefore, you become the payment gateway provider in the eyes of your clients (both cardholders and businesses). As a result of this partnership, you are able to improve your company’s public profile.
There are a few industries where the white label payment gateway concept really shines, and those include e-commerce merchant services, gaming platforms, and casinos (casino payment gateway).
White label gateways save time and money over bespoke gateways. You’ll have more time and resources to build your main offers. Building your own payment gateway takes time, money, and labor. Development, integration, and certification take time and money. White label payment gateways just need setup.
Contrast the benefits and drawbacks of white label payment gateway options
Here are a few key benefits of using a white label gateway solution.
- This gateway product may be branded with your company’s name and logo.
- You can improve how others see you, both within and outside of your industry.
- Payment security concerns are taken care of by the gateway provider. PCI-DSS compliance, fraud prevention, payment data encryption, etc.
- All required channel partners have already integrated with the gateway product and validated it.
- The aforementioned benefits allow you to increase profits, delight current customers, and attract new ones.
White label gateway solutions have the following drawbacks:
- You are unable to alter its course. The user interface is the only actual variable.
- When several users rely on the same gateway solution, performance might degrade.
Different Flavors of White Label Payment Gateway Solutions
Depending on the specifics of your white label gateway solution, you may be able to circumvent some or all of the aforementioned restrictions. So, what tastes can we expect?
- A trusted third-party gateway that may be branded in the conventional sense. This is the most popular kind, and it has the drawbacks discussed above.
- A standalone installation of the white label payment gateway service. You won’t experience any wait times since you’re the only one using this gateway instance. There is still very little agency over the procedure.
- A remote or online gateway for processing financial transactions. You won’t need to devote much of your own time or energy to it, and the gateway service provider will take care of everything else.
- An authorized gateway solution that makes use of open-source software. This solution gives you a complete say over the procedure and is very adaptable.
Which flavor is best for your company will depend on the amount of data you handle and your specific requirements. Keep in mind, however, that with more agency comes increased responsibility. Every new feature added to a gateway product that has already been licensed requires its own certification.
BitHide can easily provide your company with both a casino payment gateway and a bitcoin payment gateway. Follow the link https://bithide.io/bitcoin-payment-gateway to learn more.