White label merchant services, white label payment gateway software, and white label payment processing solutions are widely used by many types of companies. A white label payment solution can have several flavors, depending on the terms of its use. The degree of flexibility of a white label product or service, usually, depends on the size of the user’s company and its specific business needs.
White label payment solution for startups
Most startups and SME prefer to partner with a large payment solution provider, such as Stripe, Square, or PayPal. If such a provider offers brandable white label services, this offering is, usually, a standardized one. Its only difference from an ordinary third-party payment solution is that you can put your company’s name on it. Usually, you are not authorized to control or modify any of the processes or features.
White labeling for larger companies
As the business grows, its customer base and revenue streams become more diverse. New needs emerge, and, consequently, new features have to be added to meet these needs. Examples of such features include integrations with new payment platforms, support for new payment types or currencies, recurring billing functions, and others. A large merchant service provider might be reluctant to modify its standardized payment solution (even a white label one) according to the new realities. If customization is non-negotiable, the business has to search for a more suitable white label payment solution.
Now, how many iterations should this process have? And when does it end? Well, technically, a business can grow to a point where it can afford building its own custom payment solution. However, there is a “shortcut” earlier along the way.
Flexible white label payment solutions
If you find a white label offering that is ultimately customizable, there is no need to switch providers and/or develop your own solution from scratch. According to some modern payment software companies, white labeling should not be an obstacle for customizability. For example, UniPay Gateway, a white label payment technology, developed by United Thinkers, provides almost unlimited space for customizability. You can start using it as a hosted cloud solution. Then, as your business grows, you are free to license the open-source-code version of the product. As soon as you do so, you are free to add any new features using your own (or the provider’s) development and support teams.
You are welcome to consult the payment specialists at unipaygateway.com to learn how a white label payment solution, such as UniPay Gateway, can help your business grow.