People who don’t have traditional bank accounts can receive payments from employers, government agencies, or clients on a prepaid card. The cards make it possible for people who don’t have a credit or debit card to shop online or at places that don’t accept cash. Are you looking for an improved way to accept payment transactions but have no time for long integrations and onboarding?
Our scalable platform is flexible and customizable for all types of businesses. Process the payment with the Card Processing API white label payment gateway by using the Create Wallet Order endpoint. You have traffic to your marketing blog but you don’t know how to monetize it?
Give your customers maximum freedom with contactless payments
Launch in one click hundreds of software companies, market them and build a monthly passive income. In this article we’re going to go through what exactly a white label merchant is, as well as some other common questions about these types of solutions. Make sure to learn about the fees and limitations before you sign up for a co-branded card.
- Use our white-label capabilities to do everything from crypto wallets, bank accounts, card issuance and more.
- By integrating with hundreds of apps and websites, Braintree helps retailers increase conversion rates and drive sales through their mobile app.
- Wallester offers ready-to-use innovative products that can help you avoid unnecessary financial expenses and save a considerable amount of time.
- You won’t lose control – When choosing a payment processor, you must ensure that it provides enough flexibility to handle whatever needs arise throughout the course of your business’ lifecycle.
- Our white label apps and components make card management simple.
- This Card White label was created by a fintech company for fintech companies.
Additionally, it allows for the card to be used for online payments and purchases. Sign an agreement with one of the white label banking issuing partners and stipulate the conditions. As your business grows, more security risks emerge because there are more and more payment card transactions and information to process, store, or transmit. To tackle security issues, PCI with compliance level 1 comes in. Its certification ensures your debit cards’ data protection through a series of requirements defined by the PCI SSC. Our cloud-based platform offers the building blocks for you to build your card issuing and payment processing systems, and it’s very flexible.
For example, Uber offers prepaid cards to its drivers through a program called Instant Pay. Drivers can choose to link a separate debit card to their Instant Pay account or use a card issued by Uber. Uber incentivizes the use of its own card by not charging service fees or a fee for cashing out.
Setup your own customers discounts and cashback solution using Mastercard or Visa branded cards. Create a restricted or closed loop program based on Merchant ID’s and Merchant Category Codes or simply embrace the full scheme payment network. We ensure the secure and compliant processing of your customers’ card payments. Protected by real-time fraud monitoring and detection so you can focus on your core business.
The issuing bank may charge your user additional cash advance fees for their crypto purchases through Wyre. You may want to limit processing to debit cards only, or fully disclose the possibility of additional fees levied by the credit card issuer. A co-branded card is a credit or debit card that a retailer issues in partnership with a card network or financial institution. These cards can be used everywhere where bank cards are accepted. In the face of competition from fintech disrupters, card schemes have significantly improved their offerings by introducing contactless payments, tokenisation services and new security measures. These steps put them in a stronger and more sustainable position to fend off the competition that comes from disruptive technology and alternative payment methods.
A co-branded debit card is similar to a co-branded credit card, but instead of providing credit, it allows users to access their own funds in a linked checking or savings account. Private label debit refers to a merchant-branded card or mobile payment app that utilizes an automated clearing house to directly debit consumer checking accounts. Used in a closed-loop environment, private label debit offers secure transactions through PIN protection or tokenization. Financial processes can inevitably become time consuming and may even leave you feeling overwhelmed, but the reality is that they don’t have to be complicated. There are many benefits to optimizing your company’s financial processes with technological innovation, such as introducing white label card issuing solutions, at the forefront of driving this ease. However, consumers still rely heavily on their credit cards to make payments, with Americans and Europeans on average owning as many as four cards.
White Label Prepaid Debit Cards for Business
With Cashbacks, consumers receive a percentage of money back from their purchases. With Boosts, promotional funds are awarded to consumers to support merchant-specific spending. Private label debit programs have become increasingly popular in the United States, https://xcritical.com/ totaling roughly $13 billion in payment value. Such programs are offered by well-known brands, including Target, Kroger, and Circle K, as a consumer loyalty strategy. Both virtual and physical cards can be tokenized for mobile and e-commerce wallets.
The reason is that these card types have certain similarities, but there are also distinctions worth knowing. Frequently, the first go-to option is the acquiring bank that already handles processing for this retailer. In this case, there’s a chance to kickstart a card-issuing partnership much faster because the bank already knows the retailer. Department stores, warehouse clubs, airlines, and gas station chains are most likely to offer co-branded cards. Expand brand awareness and revenue flow with custom-designed gift cards with preset values and expiration dates.
Partner with a trusted, global payments leader
For instance, crypto-to-fiat debit cards will allow customers to pay anywhere in the world where Visa is accepted. Design your best-fit solution, allowing you to operate effectively within an on-demand economy, launch your fintech startup, supercharge your neobank, or create cards for the travel industry. You can choose to launch your white-label cards with Visa, Mastercard, or UnionPay, set them up as prepaid or debit, and select physical or virtual options. Detect and prevent duplicate card number usage, track declined transactions, ban untrusted services, and more. This functionality provided by our white-label payment gateway enables merchants to shape their payments platform according to their specific requirements.
If you decide to pursue this route, you should realize that stripe is meant to replace existing solutions, such as Square Cash and Shopify Payments. As such, you shouldn’t expect to find all the same features offered by those products. For starters, stripe only works within the United States and Canada.