Scale Your Business Globally with White-Label PSP Solutions and White-Label Payment Gateway

White Label PSP solution is a ready-made product or solution where a company produces an unbranded solution and sells it to another company. They rebranded the product and made use of it. Payment Service Providers, also called Merchant Service Providers, play a vital role in online payment. They provide safe and secure transactions from customers to businesses. They provide a gateway to make payment easy and secure. In this blog, we will learn more about White Label PSP solutions, how they simplify your online payment, and the role of White Label Payment Gateway and its features. 
 

How Does White Label PSP Work?

A White Label PSP offers payment service to the business. White Label PSP solutions provide a vast advantage that helps companies make their transactions safe. They are pre-built software, which is more helpful for beginners. The PSP solution has already developed the necessary payment systems. The companies can rebrand the PSP platform with logos, colors, and domains.  The White Label PSP manages translation processing, fraud detection, and settlements. Companies can quickly launch a payment solution. White Label PSP solutions avoid the costs and time of developing such a system. Companies can offer a variety of payment options to the customers. 
 

Features of Our White-label PSP solution

• Multiple Payment Mode: White Label PSP Solutions provides multiple payment modes. This feature expands the market. PSP solutions support all debit cards, credit cards, and digital wallets. PSP solutions accept various currencies to reach a global audience. 
• Secure Transaction: White Label PSP solutions protect both merchants and customers during online transactions. To protect customer data, developers use encryption technologies. PSP solutions provide a unique identifier PIN for transactions without exposing the card details.
• Fraud Detection: PSP Solution offers continuous monitoring of transactions in real time to identify suspicious patterns. White Label PSP Solutions provides immediate alerts for transactions. PSP solutions use machine learning to analyze historical transaction data. These features enable the system to learn and adapt to new fraud patterns.
• Merchant Onboarding: The merchant Onboarding feature ensures a quick and efficient start to accept payments. Merchants fill out an online application form that makes it easy to provide necessary information. Merchants give clear guidelines about business licenses, identification, and bank account details to facilitate the onboarding.
• Reporting Tools: White Label PSP Solutions provides reports for ongoing transactions and allows businesses to monitor payment activity. PSP Solutions set up alerts for significant transaction events. Merchants can monitor the number and value of refunds to understand customer behavior and satisfaction.

 

 

Simplify your Online payment with a White Label Payment Gateway

A White Label payment gateway is a technological solution used for online payments. A payment gateway is a technology for accepting and processing online payments. Payment gateway ensures the security of transactions through encryption. They verify transactions to prevent fraud. A payment gateway helps to communicate with the card issuers. Card issuers confirm the customer’s funds to complete the purchase. With the help of the White Label payment gateway solution, businesses can start their payment gateway quickly and safely. 
 

Role of White Label Payment Gateway

Transaction Processing: The White Label Payment Gateway processes transactions by transferring customer payment information to the payment processor and returning the transaction response to the merchant. 
Data Encryption: White Label Payment Gateways encrypt card details to protect them during transmission. That ensures security and reduces the risk of fraud. 
Authorization: This role of the Payment Gateway is essential for preventing fraudulent transactions. Payment Gateway requests the issuing bank to verify the sufficient funds in the customer account. After the verification, the payment gateway processes the payment. 
Settlement of funds: The White Label Payment gateway facilitates the settlement process and ensures transfer from the customer bank to the merchant account. 
 

Transaction steps involved in Payment Gateway

1. Customer Initiates Payment: On the merchant website, customers select items to purchase and choose the payment method.
2. Payment details: Customers enter the payment details and that data into the payment gateway. The payment gateway collects the essential information and encrypts the data to ensure its security during transmission. 
3. Authorization Request: The payment gateway sends an authorization request to the appropriate payment processor. 
4. Payment Processor: The Payment processor forwards the request to the issuing bank for authorization. The bank verifies the customer account and checks for sufficient funds.
5. Authorization Response: The payment processor receives an authorization response from the issuing bank. It indicates whether the transaction is approved or declined.
6. Merchant Notification: The payment gateway communicates the authorization response to the merchant website. The merchant can proceed with the order confirmation and transaction completion if approved. 
7. Settlement Process: The issuing bank accepts the request from the payment processor for the fund. The settlement process takes a few days, depending on the agreements between the banks and payment processor.
8. Reporting of transactions: The payment gateway provides detailed transaction reports to the merchant, and merchants can reconcile the account based on the reports to ensure financial accuracy. 

 

 

Benefits of White Label Payment Service Provider Solutions for Growing Businesses

White-label payment solutions have numerous benefits for growing businesses. PSP Solutions has a customization option for users to change the tools according to their requirements. Users can save time and resources by using white-label PSP solutions for the transaction instead of building from scratch. It allows users to integrate payment processing capabilities. White Label PSP solutions can scale to accommodate increased transaction volumes. These solutions enable businesses to focus on growth and improve customer experiences.
 

Conclusion 

White Label PSP Solutions offers a cost-effective way to provide secure and customizable payment services. Companies can save time and resources due to their pre-built infrastructure. The flexibility to scale globally is the key advantage of White Label PSP Solutions. It can support multiple payment methods and currencies. White Label PSP Solutions creates new revenue streams through transaction fees and helps businesses enhance brand loyalty by delivering a fully branded checkout process. 

KryptoBees provides a comprehensive White-label PSP Solution that empowers businesses. Our White Label PSP Solution enables you to offer seamless payment experiences and enhances customer trust and loyalty. Our dedicated team of experts helps you exchange and stand out in the market. With KryptoBees, you can confidently scale your business and position at the forefront of digital transactions.