As you search for a credit card processing service that meets your needs, you may come across a number of terms you simply don’t understand, and that can make it complicated to select a good service for your company. One of the toughest terms you might encounter is “white label credit card processing service.” What does it actually mean, and how can you tell which companies meet the criteria behind this term? This quick guide can help you make the right decisions.
Credit card processing, while complicated, is easier to understand than you might imagine. Your customer presents a credit card to purchase your merchandise or services. When you run that credit card, it goes through your processor back to the acquiring bank who sends it to the credit card network who sends it to the issuing bank. Once authorization occurs, the process happens in reverse. Your processor, though, is key to what happens at each stage of the game.
Choosing a processor often means choosing from some pretty big names in the business, but the reality is that the market for processors is growing, and in some cases, it’s growing a lot. The reason for the growth? Branded credit card processing, also known as white label credit card processing services.
Understanding the Idea
In the simplest possible terms, white label processing means a company has the opportunity to provide payment processing services under its own name. Instead of using a big name processor, a company chooses a white label payment gateway, then adds their brand to that solution. For many companies, it’s one more potential service avenue, as well as a stronger image and reputation. Imagine, for example, you provide turnkey business technology services to brick and mortar merchants. The ability to offer credit card processing to those same merchants, and get a slice of their sales, is an incredible one, and that’s exactly what white label credit card processing services allow you to do.
Are There Drawbacks?
There are many benefits to being able to offer a service like this one. It can help expand your customer base and your brand, and it can help you build real relationships with your customers. Naturally, though, with any benefits come drawbacks. In this case, potential problems like PCI compliance remain on your shoulders if you’re a payment processing provider, and you’re usually stuck with what the other company has to offer. You can customize the look and feel for your users, but outside of that, there isn’t a lot of customization to be done.
Is it Right For Me?
This could be a great option for your business, but it means choosing the best white label credit card processing companies to help narrow down your decision. Y2 Payments offers a phenomenal White Label Partner System you’re certainly going to want to consider.
We have a payment system that has already been certified by all of today’s top credit card processor, and thanks to a unique interface, you can work almost seamlessly with processors both on the front and back-end. You can customize your site’s colors and graphics as well as the applications involved. You also have the opportunity to customize your company communications and any collateral materials you offer. Want to offer your solution to others? We have lead tracking, sales materials, and much more ready to meet your needs. We even offer free, unlimited support.
White label credit card processing services can offer some very useful options for your business. If you’ve thought about reselling in the past or you’re just looking for a new way to promote your brand, this may be the option you need to consider. It’s a great way to create customer loyalty and build some flexibility into your enterprise now. It may even mean higher levels of customer satisfaction for your clients.
White label processing isn’t as complex as you may think. Instead, with the right partner like Y2 Payments on your side, it’s the way forward. To learn more about our options, contact us today.