Even large companies prefer cost-effective methods to promote their businesses. Start-ups, as well as small and medium-sized businesses, are even more interested in inexpensive promotion solutions. Unlike large companies, they cannot spend money on large-scale advertising on TV or publications in leading media. Still, turning to innovative methods of promotion gives no lesser effect with minimal costs.
One of the most contemporary methods of brand promotion is the white-label payment solution. It is aimed at increasing brand awareness, strengthening the loyalty of customers, and live advertising of the company’s services.
How Businesses Use White-label Payment Solutions
Any company can launch its branded payment card on the Wallester platform. The costs of such a white-label payment solution will be minimal because the business does not have to create infrastructure, negotiate with payment systems, etc. The infrastructure, technology, and software updates are provided by Wallester. And its customers create the design of their branded payment cards and manage them on the platform.
Thus, businesses can offer their consumers financial services and provide them with branded cards. For this service, they pay the Wallester platform only a small subscription fee.
Who Might Be Interested in White-label Payment Solutions
Companies can promote their products or services with white-label payment solutions in any market niche. Most often, businesses from the following industries resort to this service:
- Fintech. White-label payment solutions can be integrated into the software that fintech companies have been using for a long time. Thanks to an inexpensive subscription, they will save money on a ready-made payment infrastructure. They will not have to develop their payment gateway, maintain its operability, update software, etc.
- Cryptocurrency. Companies can implement an innovative payment solution using the Wallester platform. At the same time, they do not need to be experts in payment processing. The fiat payments integration solution offered by Wallester is intuitive. Therefore, companies can easily strengthen their crypto business with the white-label payment solution.
- E-commerce. A branded payment card or e-wallet allows consumers to make payments in a secure payment environment. Statistics show that most often, the transaction is interrupted when the consumer is asked to go to a third-party website. By offering to pay for an order using white-label payment solutions, e-commerce companies retain consumers and increase sales.
How to Build Stronger Customer Relationships with White-label Payment Solutions?
When consumers receive a branded payment card with the company logo, their sense of belonging to the brand increases. And with it, the likelihood that they will continue to use the company’s services or products increases.
White-label payment solutions act as effective brand advertising. A branded payment card indicates the success of the brand. When a customer pays with it, they increase brand awareness among people around them and contribute to building respect for the brand.
If a company offers favorable terms for making payments, brand loyalty increases. For example, these can be bonuses that can be used for future purchases, cashback, participation in promotions, etc. The more interesting the company’s offers are, the more often the consumer will use this payment card. And along with this, a positive attitude toward the brand will be constantly reinforced.
How White-label Payment Solutions Influence Brand Awareness and Expansion
White-label payment solutions easily increase brand awareness and customer engagement. A customized corporate design of the card is quickly fixed in the consumer’s mind. Therefore, when they need new purchase, the brand logo pops up in their mind before other brands.
Fast and efficient payments made with a branded card reinforce a positive attitude towards the company. Consumers associate fast and reliable transactions with the company. As a result, their trust in it increases.
The consumer acts as an ambassador of the company and tells their friends and acquaintances about the benefits of the card. In this way, the company promotes its services and products without significant advertising costs.
Effective Competitive Advantage
By offering a branded card, the company positions itself as a successful brand. In the minds of consumers, it is associated with a thriving business that leads the industry. Moreover, consumers value innovative solutions, especially if they give them some bonuses and advantages.
To promote a business with white-label payment solutions, companies do not need much investment. Therefore, they save on advertising and developing a custom patented payment solution. A cheaper marketing campaign allows them to offer goods and services at a lower price than competitors. This also affects the increase in demand for the company’s products or services and sales growth.
By using white-label payment solutions, a business offers its customers reliable and fast payments that meet the highest international standards. Therefore, the company’s reputation will be impeccable. Competitors who may offer redirection to third-party sites to complete transactions will lose in comparison with a branded payment card.
