Get in the black with white label: The 6 advantages of white label solutions
What is white label?
Merchants who use a white-label-solution in the payment process offer their payment processing under their own brand, while the actual processing is done by a third-party provider. So you as a merchant label a blank label – or “white label” – with your name, and your end customer enjoys a seamless payment process.
Who needs white label?
Any B2C or B2B business that wants to focus on sales, strengthen their brand and especially their customer relationship, and also save money.
The 6 biggest advantages of white-label-solutions
1. Your customers become fans
High-quality white-labelling increases trust in your brand and strengthens the loyalty of your target group. Smooth checkout under your name ensures that your brand is associated with convenience and quality. Your customers stay in your brand world before, during and after the purchase, which increases trust in your brand. They are more likely to order from you again next time. 2.
2. You save yourself the trouble of setting up your own payment unit
Perhaps the idea of a self-built payment solution sounds attractive at first. However, developing a highly complex solution costs a lot of time, energy and money, while the return on investment is unclear for the time being. So why reinvent the wheel? Good white-label providers not only offer you an individual payment solution, but also take care of fast integration and take over time-consuming services such as risk management, dunning and customer support.
3. Less pressure in day-to-day business
Good white-label providers naturally ensure that problems in the checkout do not arise in the first place. If they do occur, your service provider will take on both the responsibility and the problem-solving and offer you and your customers comprehensive support. You as a merchant can sit back and relax.
4. You work with absolute experts
A white label service provider spends the whole day developing and optimising its payment solutions. Beta testing, debugging, fine-tuning – the daily bread of your payment service provider. A provider that delivers you a customised white-label solution is like having your own development team, at a fraction of the cost.
5. You benefit from the latest technologies
If you have ever taken a closer look at the world of online payment, you know: many payment methods – for example, purchase by open invoice, the most popular payment method in Germany – are technically highly complex. Especially in risk management, processes and systems have to be constantly developed to keep up with internet fraudsters. At Ratepay, we use, among other things, a highly complex machine learning system to enable maximum acceptance rates for you. Then there are the regulatory aspects: Your white label provider knows all the laws and all the requirements, for all channels and interfaces. By using white label solutions, you make use of your service provider’s know-how and end up with a quality product from expert hands with your name on it.
6. You sell more, because your conversion rate increases
A large proportion of internet shoppers still abandon a purchase if there are any irritations in the payment process. This can be due to the fact that customers cannot pay in a way that corresponds to their personal wishes. But it can also be because they are redirected to the page of a payment service provider they may not know and wonder to whom they are providing their sensitive data. With white-label solutions that on the one hand cover the most popular payment methods and on the other hand come along in the look-and-feel of your shop, you significantly increase the chance of a higher purchase completion rate.
Contact us to find out more about our customised white label solutions for purchase on account, hire purchase and SEPA direct debit.
We will be happy to advise you.