Glossary
White Label
With a payment gateway white label solution, customers can create their own merchant and user accounts and set up the individual payment methods for each merchant. With their company branding taking center stage, they can provide an additional service to their core business.
A white label payment gateway is a payment gateway provider that allows a separate business to use its technology to process payments through their official name with their own branding. Simply put, a company adds its logo to create a customized payment solution.
Businesses benefit from using a white label solution as it comes ready-made, and requires no development time and the costs that this can incur. Maintenance and upgrades are conducted by the software providers meaning that those using the software can focus on their clients and core business.
An independent sales organization (or ISO) is a company that sells credit card processing services independently from a financial firm or bank. Simply put, it is a third-party company that can sign up a business to accept credit cards. ISOs can use a payment orchestration white-label solution in order to broaden their client offering, without taking of the time and cost development.
A Payment Facilitator or Payfac is a service provider for merchants. To accept payments online, you will need a merchant account from a Payfac.They are then able to sign-up merchants underneath their master account as sub-merchants. PayFacs can also use white-label payment orchestration software and offer it to their clients to create a more complete service.
A company, which combines the functions of both a payment gateway and a payment processor, can connect to multiple acquiring and payment networks. Additionally it can be an acquirer and provide risk assessments and other financial services. For merchants, it is often cheaper and more convenient to use services of a PSP, rather than have different contracts with various payment gateways, processors and acquiring banks. PSPs can use a payment orchestration platform in order to provide a holistic service to their merchants.
A Merchant of Record (MoR) is an entity authorized to process the credit card and debit card transactions of consumers. The MoR assumes all liability concerning the payment processing, including maintaining compliance with tax laws and taking steps to prevent fraud.
A White-Label payment orchestration platform can be used by many types of business that operate in the payment space. It is an easy way to add additional revenue stream to your current setup. It is suitable for Payment Service Providers (PSPs), Independent Sales Organizations (ISOs), Acquirers, Merchants of Record (MoR), Payment Facilitators (PayFacs), Banks, Open Banking providers, merchants, and more.