To expand their audience reach and business geography, e-commerce companies should offer their customers as many payment tools as possible. However, this requires significant investment in developing and maintaining their own payment infrastructure. Differences between payment systems and methods in various countries lead to significant inconveniences, as entering a new market requires connecting each tool separately. Often, this process involves a lot of resources for preparing documents and coordinating with local banks and providers.
White-label payment solutions offer companies a ready-to-use payment infrastructure with pre-integrated payment methods, which can be customized to fit the brand's unique features. They easily integrate with e-commerce platforms and enable accepting payments in online stores using various payment tools. Let's consider the working principle of white-label payment solutions:
- Connecting a white-label payment processor. An e-commerce business owner receives a ready-to-use solution from the provider, supplying information about their company and an account for accepting payments.
- Setting up the payment solution. With access to an API or SDK, the online store owner can integrate the payment processor and customize the payment page interface so that all elements match the brand's style.
- Expanding the list of available methods and optimizing payments. A white-label payment processor allows connecting many instruments, including bank cards, electronic wallets, and mobile payments.
- Processing payments. When a customer selects a payment method, the white-label platform directs them to a secure payment page. Information about the virtual payment is provided to both the customer and the company. The money is transferred to the company's account minus the processor's commission.
White-label payment solutions process payments in the background, not revealing to users any information that doesn't correspond to the e-commerce platform. Specifically, the customer does not see the name of the white-label platform, information about the specific payment system, or the stages of payment processing.