Whitelabel issuer is a card issuer that offers branded/co-branded virtual and plastic cards for businesses. Such card programs are fully configurable and allow to efficiently attract customers without the need to invest in a standalone solution. Essentially, businesses use these cards to set markups and profit from every transaction and subscription made using their cards online or in-store.
Whitelabel issuer as a financial institution offers the same level of security and transparency as a standard-issue credit or debit card. It assists businesses in several areas including issuing a card, funding credit and collecting payments from customers.
Understanding white-label cards
White label cards are branded cards that are intended to be used exclusively within the activities of a particular business. Operated by banks or financial companies, they do not have standard credit card logos like Visa or Mastercard and in most cases cannot be used in any other store than the brand under which they were issued.
When white label cards are issued as "co-branded", they can be used anywhere, just like a regular credit or debit card. In this case, the issuing bank/payment processor will be marked on the face of the card. There are usually three parties involved in issuing co-branded cards: the business, the card issuer, and the payment network or bank.
Key benefits for businesses:
- Customer loyalty;
- Additional legitimacy and business image;
- Access to customer spending history to tailor further marketing strategy.
Key benefits for customers:
- Softer terms (like deferred payment);
- Opportunity to earn loyalty points;
- VIP features and more.
Choose Your Whitelabel Issuer
If all these benefits might suit your business well, it is time to find the right partner. Since the Finscanner marketplace gives an ideal opportunity for this purpose by providing every necessary tool, let's pick a couple of Whitelabel issuers as an example.
Digital Capital Ltd — an electronic money institution incorporated in the United Kingdom. It offers white-label payment solutions, prepaid cards, debit cards, e-wallets, SWIFT, and SEPA transfers to businesses. Digital Capital can issue different types of branding physical or virtual cards, offering several card programs for both consumers and businesses.
Optimus Cards UK Limited — an electronic money institution focused on white-label debit card programs. Headquartered in the United Kingdom, it builds first-class end-to-end card solutions for financial institutions across Europe. Optimus Cards is one of the few organizations in Europe that has been given the status of Principal Member of Mastercard.