It’s enough work to design a product or service that has market demand, establishing it on online platforms and creating custom payment gateways can be a daunting task. Adding to the scenario, enabling crypto payment methods along with traditional payments requires much more effort. But, with the rising popularity and adoption of cryptocurrencies, it became essential for online businesses to accept crypto payments to reach a wide customer base.

Here is where white-label crypto payment gateways come into the picture. They provide a ready-made solution to enable online businesses to accept crypto payments, even without having their own payment processor. If you are wondering what are white-label crypto payment gateways and how they enable businesses to accept crypto payments, read on to find out!

What is a White Label Crypto Payment Gateway?

A white label crypto payment gateway enables online businesses and payment companies to  process crypto payments through a third-party gateway provider. They combine the branding of the company with a suitable payment processor. However, choosing the most reliable and the best crypto payment gateway plays an important role in enabling a seamless payment system for customers.

Considering the requirements of online businesses, white label crypto payment gateways provide a customized payment processing solution. The front-end will be the company’s branding like its logo, name and the back-end is completely handled by white label crypto payment gateways, without causing any trouble to the company.

How Does a White Label Crypto Payment Gateway Work?

White label crypto payment gateways provide Application Programming Interfaces (APIs) to online businesses, enabling them to accept crypto payments. When businesses integrate these APIs to their platforms, they can process crypto payments along with traditional fiat currency payments. Businesses do not need to develop their own payment gateways spending their resources.

Here is how a white label crypto payment gateway works.

• Customers will have an option to select cryptocurrency when they would like to make a purchase using their preferred virtual currency.
• Customers will be redirected to the white label crypto payment gateway website, where users need to enter their wallet address, amount, and password to make the payment.
• The white label crypto payment gateway generates a QR code. Customers need to scan the code using their crypto wallet on mobile devices.
• The payment gateway processes the transaction once the customer confirms the payment.
• The white label crypto payment gateway processes and converts crypto funds into fiat money, enabling the online business to accept fiat money for the purchase.

White label crypto payment gateways charge extra fees for providing services to online businesses, either on a monthly basis or a percentage of the processed transactions.

Benefits of Using White Label Crypto Payment Gateway Software

Time-efficient 

Businesses need to spend a lot of time, effort, and resources to develop their own crypto payment gateway. Adding to that, the back-end has to be regularly updated to stay ahead of their competitors. Businesses can save their valuable time by implementing a white label crypto payment gateway. Apart from saving the resources, it also helps them focus on developing and expanding their core business.

Cost-efficient

Building a crypto payment processor from scratch also demands expenditure. There is still a chance of being outdated considering the rapid evolution of cryptocurrencies and their technological developments. When businesses reach out to third-party solutions for payment gateways, they can avoid this scenario and save finances to spend on their core business products and services.

Expertise

White Label crypto payment gateways have the necessary skills and expertise since their core job is to provide payment gateways, enabling businesses to accept crypto payments. They have advanced technological systems including a wide range of SDKs and APIs to let businesses integrate them to their websites. With the help of these payment gateways, businesses can leverage their expertise and knowledge, and all the benefits of a dedicated crypto payment solution.

Compliance

It is crucial to be up to date with the regulatory compliance, specifically when it comes to processing crypto payments. White label crypto payment gateway solutions provide a refined and ready-to-use payment solution to accept cryptocurrency purchases. The most reputable and safe platforms also provide KYC/AML verification along with tax and regulatory steps so that your business stays compliant.

Management of Fraud and Risk

Implementing anti-fraud solutions takes a front seat when it comes to anything related to financial systems. White label crypto payment gateways offer extensive anti-fraud tactics and solutions so that businesses can not worry about these issues. Additionally, white label crypto payment gateways are integrated with Fraud and KYC solutions to enhance protection from possible risks.

Conclusion

White label crypto payment gateways provide invaluable benefits to online businesses and payment solutions. Having a good white label crypto payment gateway not only reduces time and effort in building one but also increases sales, boosts ROI, and allows businesses to build a strong reputation in the industry. However, you must do your own research and find the safe, reliable payment solution that is suitable for your business.

Frequently Asked Questions (FAQs)