Every year, more businesses open up an online platform for their customers to shop. If you have a new business and you are starting to look at banks that link to your website, you need to learn about white-label payment gateways. This is a customized portal for customers to check out the products they buy from your company.
When you choose to work with Bankful, you will get the best white-label payment gateway that will streamline the checkout process for all of your customers. We make it easy to run your online business efficiently.
As a new business owner, you deserve the best relationship with your bank and the opportunity to build a relationship with your customers. One of the ways we can ensure your success as a business is by providing customized white-label payment gateways to all our customers. Here is everything you need to know about white-label payment gateways.
Why You Need to Partner with Bankful for White Label Payment Gateways
In business, making decisions on whether it’s better to build or buy a program is common. Do you have the resources to provide your consumers with cutting-edge payment processing technology? Many new business owners do not know how to code or create an easy checkout process, which is something that everyone needs. This is why white-label payment gateways have succeeded so well. It does all the work for you.
White-label payment gateways can help your business grow in ways you never expected. The benefits outweigh all of the drawbacks of this program, which is why so many new businesses are opting for white-label payment gateways. Here are some other benefits you will notice after partnering with Bankful.
White Label Payment Gateways Are More Secure
Not only is this the best and safest way to get payments and process them, but it also provides a secure environment for your customers. Every business owner should put their customers’ safety first and foremost. This is a sure way to gain your customers’ loyalty. When they know they can check out easily and receive their shipment promptly, they will continue to come back to you.
You Get Expertise
Companies like Bankful, which provide white-label payment gateway solutions, are equipped to supply cutting-edge innovations in payment processing technology. By working with them, you can access all of these advantages and may pass off the solution as your own. This helps you, as a business owner, focus on brand awareness and create customized solutions that accurately represent your brand.
It Saves You Time
As a new business owner, you will spend time on many different projects, and time also equals money. When you partner with a company that offers white-label payment gateways, you save time by not building the platform yourself. You would have to study for hours, learn to code, and test it to get everything correct.
Compliance with PCI DSS
It is essential that a payment gateway maintains its accreditation, undergoes PCI DSS compliance, and complies with all applicable regulations. White-label payment gateways provide you with a finished, ready-made product under your brand name that can be used immediately to onboard clients. You won’t have to worry about compliance; that is what our job at Bankful is for. We help you when it matters most.
White Label Payment Gateways Offer Fraud Management
As a business owner, you need to know how to minimize fraud. That can be a challenging thing to pinpoint, but partnering with the right company can make it much easier.
In addition, white-label businesses provide cutting-edge anti-fraud technologies and procedures that can be customized to meet various needs. Users may adjust them to their liking, which improves their ability to predict the cardholder’s actions.
White label payment gateway solutions may provide an extra layer of security by integrating with external Fraud systems. Banks that offer white-label payment gateways offer various fraud solutions that often incorporate machine learning algorithms, improving fraud detection accuracy while maintaining a frictionless payment process.
It Is One of the Most Cost Effective Solutions
Developing a custom gateway from the ground up is costly, with no guarantee of a working or up-to-date final result. Compared to developing a payments platform from scratch, outsourcing to white-label payment gateways saves money and streamlines budgeting.
Are There Any Drawbacks to White Label Payment Gateways?
Fortunately, there are only a few things that could be considered disadvantages of this option. Most business owners will find this to be one of the best options for their business. But here are some drawbacks you should be aware of:
You Don’t Have as Much Control
When you build your own payment gateway, you have complete control. Some companies may not allow you to customize the process based on your brand. However, with the right company like Bankful, you will have full control and a customized payment gateway by the end of the process. We allow you to make the decisions necessary to match your brand.
There May Be Some Fees
Building your own gateway may save you upfront fees, but you risk a lot by doing this. Each company will have fees for this service. Although they are upfront, they can save you time, hassle, and any money you gain will always be secure. Partnering with the right company can ease your fears about any fees because you know it will be worth it in the end.
What Bankful Can Offer Your New Business
No matter what website you use, Bankful is there for you. We work with everything from Wix to Square, Shopify, and WooCommerce. Our job is to make things easier for you, and our platform offers several key benefits that every business owner can take into account.
Completely Customizable Payment Page
Unlike other white-label payment gateways offered by competitors, we give our clients a chance to completely customize their checkout process. One of the main downsides of receiving something already coded is that you don’t have full control. When partnering with Bankful, we ensure you get that control.
No one knows your company or brand better than you do, so you’ll always have the final say. This means the design of your payment page will be on brand with the rest of your website. This is crucial for every company to think about.
You Make the Choices for Your Customer’s Experience
Every business owner can choose from custom premade themes that can help narrow down the time spent making a hosted payment page. This page will match your e-commerce store style and overall website aesthetics.
You can set timers for your customers and redirect them back to their carts after a specific time or add things like “free shipping.” All of this can be added to your hosted payment page and is one of the benefits of choosing white-label payment gateways.
You Have the Option to Reduce Business Expenses
We realize that transaction fees and other operating expenses might be a massive drain on your company’s resources. You may mitigate some or all of the cost of maintaining the hosted payment page by charging a service charge to customers. So, you can cut costs for your business and still give your customers various ways to pay.
You Receive Tons of Payment Options
When you partner with Bankful it means your business can accept a wide variety of options when it comes to payment methods. You can accept everything from cryptocurrency to Apple Pay. You can give your customers whatever they want. Other white-label payment gateways may lack this, which can help your business stand out from your competitors.
Your Business Gets a Seamless Transaction
There is nothing better than offering your customers a way to seamlessly buy the products you sell. Everything from the website to the checkout process will be easy when you partner with Bankful. Your shoppers are more likely to return when they experience no issues during checkout.
Bankful Helps Give Your Customers a Buy Now Pay Later Option
One of the best things you can offer your customers is the chance to pay later. This helps you increase your revenue, and you may even get bigger orders. It allows them to work with a third party and set up a payment plan while still giving you the money you deserve.
Using white-label payment gateways to buy now and pay later is the best way to maximize order values. If you have sales goals to meet, this is the way to do it, and our company can help you.
Find Value In Your Business by using White Label Payment Gateways.
Start your business off right by partnering with a brand that will allow you to customize your checkout page. This is the best way to grow relationships between your customers and you. It’s time to partner with Bankful to hit your 2023 sales goals.