White-Label Payment Gateway Cost: Short Guide For PSP

Every businessman starting out as a payment service provider should allocate a certain budget for all expenses. Due to the specifics of this business, a significant part of expenses will be software. It is the software that is in the heart of every PSP allowing for convenient service and quick transactions.

Sometimes entrepreneurs do not even start to work on building PSP, finding out how much time and resources it will take to create payment software from scratch. And indeed, development from scratch is a very expensive process that requires significant investments. However, there is a way to save money without losing functionality at all. When starting a PSP business, you can always use a white-label payment gateway that will cover all your business needs and significantly reduce costs. In this article, we will look at white-label payment gateway costs and why is it worth starting a PSP business with this type of software.

White-Label Payment Gateway Cost: Why Do You Need This Solution?

Before we talk about the white-label payment gateway prices, it’s worth sorting out its benefits for your PSP business. So, a white-label payment gateway is a PSP software solution completely ready to work. All you have to do in this case is equip it with your brand identity. Such a solution has a number of remarkable advantages:

• Customizability. A white-label solution typically involves fine-tuning the software to your business needs. You’ll be able to add all the functionality you need and even gain a competitive advantage.
• Time-to-market speed. The time to market with a white-label gateway is only a few weeks. In contrast, developing your own solution from scratch can take years.
• White-label payment gateway prices are much lower than developing your own solution.

What Is The White-Label Payment Gateway Price?

Now let’s talk about the main thing, namely the white-label payment gateway cost. As we have repeatedly said, buying a white-label solution is much more profitable than developing software from scratch.

White-Label Payment Gateway Cost Vs Developing From Scratch

While creating a payment gateway from scratch you will have to spend on:

• Development costs – about €1,000,000
• Integration with banks from € 4,000
• Software certification for about €15,000.
• Annual PCI audit – €22,000 per year.

As you can see, development alone can take the lion’s share of your budget. Add the associated costs such as hiring staff, purchasing and setting up the infrastructure, as well as support and maintenance, and you realize that doing everything yourself is slow and costly.

At the same time, you can simply buy a white-label payment gateway and pay around €40,000 instead of more than €1 million. Moreover, companies providing white-label payment gateway usually try to help their clients as much as possible and therefore offer comprehensive services. By finding a reliable technology partner, you can get help in obtaining all the necessary licenses, purchasing the infrastructure, as well as enhancing the solution if you lack any functions.

How Can You Reduce White-Label Payment Gateway Cost With Boxopay?

As you can see, the white-label payment gateway price is quite lucrative and a business can benefit a lot from such a solution when starting a PSP company. Nevertheless, you still have a lot of organizational challenges to solve, deal with the purchase and configuration of equipment and much more. You’ll need expertise and experience to tackle such a massive task or it risks dragging on. Boxopay understands what entrepreneurs have to deal with when starting a PSP business, that’s why we offer a full range of services necessary for starting one.

White-Label Payment Gateway

We provide a white-label solution for PSP that wants functional and reliable software at a reasonable cost. With us, you’ll have a fully working solution that just needs your brand’s label on it.

The solution is fully customizable, so you can add features to fit your business needs. White label payment gateway development costs and timeline will be negotiated with you to fully fit your budget and go seamlessly with the already running workflows.

Infrastructure Setup

A reliable technology partner will take the hassle out of building the infrastructure. Our specialists will help you to choose all the necessary hardware for a successful start of your PSP business. Once you have the hardware, we’ll also get it set up and running.

Regulatory Support

Opening a PSP business comes with a lot of licenses and certifications. Boxopay can help you get all the documentation you need to ensure full regulatory compliance.

Seamless Scaling

Every business needs to grow. If you want to scale and transform your business from a PSP to an acquirer, we can help with that as well.

Conclusion

Now you know how much is the cost of a white-label payment gateway and why buying one will be a great decision when starting a PSP business. A white-label payment gateway will allow you to significantly reduce the cost of software, while the functionality will be determined by you thanks to the possibility of customization. Moreover, the vendor of the white label payment gateway can become a great technology partner that will help you with selecting and configuring all the hardware and getting all the necessary certificates. Costs to build a white-label payment gateway solution are low compared to the benefits it provides, so buying this solution is a very worthwhile step on your way to building a sustainable PSP business.

Additional Reading:

• Top 5 Invoicing Software For Small Business
• How Do You Find The Best Business Intelligence Tools?
• Mastering FX Risk Management: A Guide For Small Businesses Operating Internationally