How white label payment solutions can grow your business
White label products exist in many different marketplaces and industries – from Pick ‘n Pay branded cereal and DVD players, to software such as iOS apps and websites. This marketing strategy benefits both the manufacturer and the company that brands the product. White label payment solutions let businesses provide their customers with payment solutions branded as their own. This helps boost their bottom line, as well as helping to bolster their brand equity. Here’s how your business can benefit from branded payment solutions and how to choose the right white label provider.
A white label payment solution brings benefits and efficiencies to both developers and marketers alike
A white label payment solution is one that has been created, tested and produced by a payment processor and used, or distributed by a third party. This third party packages, brands and markets the product to consumers: the consumer has no reason to believe that the brand hasn’t produced the product itself. The maufacturer can focus all their resources on developing and perfecting the product, without the added task of marketing it. The buyer can focus all of its efforts on packaging, branding and marketing the product – without having to invest in production.
White label payment solutions are opening up many possibilities for banks and retailers
In the payment solutions industry, a payment processor might sell its traditional point of sale (POS) or mobile POS payment solutions to a large bank or retailer, such as a supermarket, who want to offer their customers a proprietary payment solution and strengthen their brand image with branded card terminals. Rather than spend the time developing their own payment solution, they’ll receive one tailored to their scale and requirements within a few months by selecting a white label product. The user doesn’t need to worry about processing the payments, they can continue to focus on their key business knowing that payments are being processed securely by their provider.
Outsourcing your payment solutions strengthens your brand, saves you money and is secure to boot
By choosing a white label payment solution, you’ll enjoy all the benefits of your customers associating the payment solution with your brand but avoid the R&D costs, time frames and risk of designing your own product – not to mention the red tape associated with becoming Payment Card Industry (PCI) compliant.
Because your white label provider has focused all resources into creating the payment solution, you will know that you’re choosing a solid product.You get to focus on your core business and guarantee that the payment processing system you choose is secure and adheres to the highest level of PCI compliance. With a branded payment solution, your business will not only appear professional and position you as a leader in your field – you’ll attract and retain more customers too.
How to select the right white label payment solution provider
Choosing the right white label payment solution provider will guarantee you are choosing a superior payment solution. Your provider should be reliable, with experience and a proven track record. Look for a vendor who has serviced a wide range of clients and is therefore adept at understanding the needs of a diverse range of businesses. Your payment processor should also be bank agnostic so that you can service customers who bank with different organisations. Importantly, they should be PCI compliant to Level 1 and have round-the-clock data center montoring to ensure the highest security.
Paycorp prides itself on its 15 years of experience in the payment solutions industry and values the diversity of its clients. For more information about how we can help your business grow with one of our solutions, download the Paycorp brochure.