5 Simple Steps to Launch a White Label Payment Service Provider
Launch your own payment company with ease using a white label PSP—just follow these five simple steps for setup, customization, and client onboarding.
A white label payment service provider (PSP) offers a great opportunity to start your own payment company without the need for significant investment. We’ve previously explored white label solutions in the payment industry, covering what a white label PSP is, why it's often better than developing your own software, and how to choose the right provider.
This guide is for those who have either chosen a white label PSP or are still considering their options. We’ll address key next steps and answer important questions like:
- How should you prepare?
- What does the connection process involve?
- How do you start and onboard clients?
Spoiler: Integrating a white label PSP is easier than you might think.
Preparing for White Label PSP Integration
Before integrating a white label PSP, there are a few essential steps to complete. These include legal procedures like trademark registration and establishing a legal entity per your jurisdiction’s requirements. A legal expert can help you navigate this process. Additionally, you should secure a domain name and create your brand assets, such as a logo, color scheme, and fonts. Another crucial step is creating a business plan that outlines your offerings, pricing, initial costs, and ongoing operational needs.
Once you've checked off these tasks, you're ready to begin searching for the right white label payment provider. After selecting your provider, the setup process can begin.
Step-by-Step White Label PSP Setup Guide
Let’s dive into the five key steps for white label PSP integration. Although the process may vary slightly depending on the payment provider, here’s how it typically works with us:
Connecting with the Provider: We create an organization for your company on our platform, giving you access to all features and tools. From here, you can add team members, manage access levels, and collaborate on merchant management.
Merchant Portal: After onboarding, we customize the merchant portal with your company’s branding and deploy it on your domain. The portal acts as the merchants’ back office, where they can track transactions, manage payments, and handle payouts.
Checkout Setup: You can choose from our checkout templates, customize them with your branding, or design your own payment page, which we will then implement on your domain.
Documentation: We provide detailed documentation explaining platform features and guiding merchants through each step.
Onboarding Merchants: Once everything is set up, you can start onboarding merchants by creating their accounts on your white label PSP.
Our partnership doesn’t end here. We continue to support you by ensuring platform stability, providing technical assistance, and expanding global payment provider connections to enhance your platform. Ultimately, a white label PSP allows you to focus on growing your business while we handle the technical side.
