White label credit and debit cards – everything you need to know | Pismo (2024)

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White label payment gateways – what are they?

White label payment gateways operate in much the same way as other white label products. They allow firms to process payments under their own brand name while using the technology of a third-party provider. The name derives from the image of a white label on the packaging, ready to be adapted to an end provider’s branding.

An effective white-label payment gateway reseller allows its partner to enable better customer retention, ensure greater security, and provide impactful levels of service and product capability. Regular clients of white-label payment providers include e-commerce giants, gaming platforms, and the online presence of otherwise physical stores.

White label card issuing

One effective method of customer retention and interaction for the companies mentioned above is to become a debit or credit card issuer through a third party. A white-label prepaid card can give firms the ability to create loyalty programs, gather customer payment data, and produce attractive and eye-catching brand adjacent material.

White-label credit card programmes remove the hassle and legwork of creating a bespoke payments system for firms that would otherwise move outside of regular financial services networks. Cards can either be physical or digital and accessible via a mobile app.

While white-label debit cards are associated with a bank account, other options don’t have to be. Many companies utilise prepaid cards, whose value can be directly loaded onto the card, for gift programmes or to issue payments to employees or contractors.

Major technology companies utilise prepaid cards powered by white label solutions to provide services to their employees. Ridesharing giant Uber and delivery service Grubhub offer instant cashouts to their workers, driving the development of the gig economy over traditional payroll positions.

What are the benefits of white label cards?

Deploying a white label card solution can provide a series of benefits to firms that would otherwise have to take the complex steps of entering traditional financial services:

• Additional revenue streams
  • Introducing white label cards create opportunities for new revenues. In the case of prepaid cards, it can enable a portion of the sake every time someone uses their card
• Simple onboarding and setup
  • White labelling enables a firm to place its own branding on a product entirely created by a third party. It arrives ready to use. There is no need for costly internal research and development; the hard work is done by others.
• Customisability
  • Firms can create a card scheme of their own design in a myriad of colours, styles, and designs. The right partner can also enable innovations like dynamic CVV and in-app card controls.
• Customer interaction and loyalty
  • White-label cards increase loyalty to a brand. If a firm introduces rewards for using the company card, customers are more likely to stay within an ecosystem.
• Utilise better data insights
  • Becoming a card issuer allows a firm to create an insider view of their customer’s purchasing habits. This helps to better understand needs and wants. Such data can result in impactful strategic decisions on sales, locations, and rewards.

White label cards for businesses

In today’s digital world, businesses want to utilise best-fit solutions. They want platforms that enable them to operate efficiently, react to an on-demand marketplace, and provide their customers with the best service levels. Issuing business credit or prepaid cards can be key to a search for cost reductions, streamlining processes, or a journey into an innovative future.

White label cards for large organisations

Major organisations operating with thousands of employees need an effective and complete method for managing worker-initiated expenses. They also require integrated platforms and tools to ensure satisfaction on both sides of the equation.

A white-label corporate credit card benefits employees and employers when integrated into an enterprise expense management programme. It eliminates costly and time-consuming manual processes for everyday occurrences like expense reporting and payroll management.

White label payment services can navigate the traditional problem of high credit card fees by offering large clients lower interchange rates. This can be deployed to both employees and end customers as an incentive for continued use.

Robust white-label payment solutions enable the instant provision of cards, the management of spending in real-time, and offer scalability as your business grows from strength to strength. It allows you to focus on your business, not on optimising points, back-end processes or technological limits.

White label cards for small and medium-sized businesses

Small business owners face a variety of challenges in their day-to-day operations. Overheads can squeeze the services you provide your customers. You measure success in the thousands of dollars, not the millions.

Yet firms don’t have to be an Amazon, a Starbucks, or an Uber to offer a white-label card solution. In fact, the benefits provided by such a card can be a multiplier for success when it comes to small and medium-sized enterprises (SMEs).

Customer loyalty and employee benefits are of paramount importance to SME owners. Providing a tailored service to both can give them a key advantage over competitors unable to offer the same level of service. Giving customers the option of instalment payments or reward cards to gain discounts can impact the bottom line.

Want to know more about the power of a white-label credit or debit card solution? Get in touch with Pismo today to chat with our experts.