Choosing a payment gateway – Criteria for White label clients
White label clients, who resell payment processing services under their brand name, must carefully choose a payment gateway that meets their business requirements and offers a seamless payment experience to their customers. Here are the critical criteria for white-label clients to consider when choosing a payment gateway.
Integration and customisation options
It is essential that it is easy to integrate the merchants of the white-label payment gateway partner. The company using the white label solution wants to ensure they can offer their merchants a smooth integration experience. It is also beneficial for payment gateways if they provide customisation options, such as branded payment pages, checkout flows, and email notifications, to maintain consistency with the white-label partner client’s branding.
Payment method support and flexibility
It is attractive for white-label clients if the payment gateways support various payment methods, including credit cards, debit cards, digital wallets, and alternative payment methods. It is essential to provide and integrate region-specific payment methods, as different parts of the world prefer different payment methods; for instance, Latam has totally different payment customs based on the speed of digitalisation or payment customs compared to, for example, Scandinavian countries.
Therefore, in our rapidly changing world, allowing the white-label client to adjust the payment methods to their relevant target market and business model and enable customised payment processing in multiple currencies is essential.
Security and Compliance
A trustworthy white-label payment gateway must adhere to the highest security and compliance standards, such as PCI DSS compliance and SSL encryption, to ensure the safety and privacy of sensitive payment data, such as WLPayments provides its unique product feature. This 3DS2 routing complies with Strong Customer Authentication regulation.
The payment gateway must also provide fraud prevention measures, such as fraud detection tools and chargeback management. This way, it mitigates the risk of fraudulent transactions, making it easier to attract new merchants with these technological solutions.
Transaction fees and pricing
The payment gateway should offer transparent and competitive transaction fees and pricing models without hidden fees or surcharges. The payment gateway can also provide flexible pricing plans which accommodate the merchant transaction volume and business growth and offer discounts or incentives for high-volume merchants.
Customer support and service level agreements
It is a strong advantage if the white-label payment gateway can integrate reliable and responsive customer support with multiple communication channels, such as phone, email, and live chat. The payment gateway should also offer service level agreements (SLAs) that guarantee uptime, availability, and performance and provide timely resolution of any issues or outages.
In summary, choosing the right payment gateway is critical for the success of white-label clients, as it affects the user experience, security, costs, and support of their payment processing services. By evaluating the integration options, payment method support, level of customisation security and compliance, transaction fees, and customer support of various payment gateway providers, white-label clients can make an informed decision that aligns with their business needs and goals.
At WLPayments, we ensure our payment partners can access all the relevant payment data. Through the platform or API. Do you have any follow-up questions after reading this article? Reach out to us; we will gladly help you find the answers. Fill out the form below, and we will contact you shortly. Or drop us an email at email@example.com.