White Label Card Issuing: All You Need to Know

Creating a product from scratch can be time-consuming and costly, particularly when it comes to the financial sector. Fortunately, white label card issuing cuts out the complexities and enables you to apply your brand to established products and technologies.

From meeting regulatory requirements to paying high network fees, launching your own cards can be an onerous process that few businesses are willing to undertake. However, having your own line of branded cards can have significant benefits for your company. By making the most of white label card issuing services, you can reap the benefits of having your own branded cards and avoid the hassle of starting from scratch.

Instead, you’ll gain access to a trusted card network and reputable card issuer, while showcasing your brand, attracting new customers, streamlining operations, and generating customer loyalty. Sound enticing? Read on to find out how white label card issuing can work for your business.

What Is White Label Card Issuing?

‘White label’ is simply a term used to refer to products or services that are produced or manufactured by a third party but sold under a different label. Retailers often use white labelling to sell products that have been manufactured by an external company.

However, white label solutions are no longer restricted to the retail market. In fact, they are becoming increasingly common in the financial sector. With white label card issuing, for example, a business can issue a white label card with their own branding but utilise a third-party card network and payment processing services to actually provide the cardholder with the facilities they need.

Due to regulations that govern the financial sector, card issuers need to obtain an issuing licence before they can operate. By opting for white label card issuing, you can skip this process and use an established card issuer, like PayAlly, to release your own branded cards.

What Types of White Label Cards Are Available?

Today’s financial sector needs to be flexible, secure, and reliable to meet the needs of its customers, which is why a variety of different card types are available. Consumers may use a range of pre-paid, debit and credit cards to manage their finances. Delve a little deeper and you’ll find that there are numerous different types of pre-paid, debit and credit cards out there, including private label cards and co-branded cards.

When it comes to white label card issuing, there are plenty of options available. Depending on your needs and your operations, you may want to use the following types of cards:

• White label debit cards
• White label credit cards
• White label pre-paid cards
• White label virtual cards
• White label payroll cards
• White label expenses cards

White Label Debit Cards

A debit card allows the cardholder to use funds in their account in shops or online or to add or remove funds from their account via an ATM. Unless the cardholder has a pre-agreed overdraft facility, no credit is available via a debit card and funds are immediately transferred from one account to another when a transaction is made.

White label debit card issuing allows you to incorporate your branding and design on to a debit card but ensures you can utilise established card networks and payment processers to facilitate card and transaction management.

White Label Credit Cards

Issuing credit can be a risky business, which is why the industry is so heavily regulated. With white label credit cards, you can use your company’s branding to create bespoke cards but rely on established financial providers to determine credit terms, process applications, facilitate payments and manage invoicing.

White Label Pre-Paid Cards

Pre-paid cards are a useful way for cardholders to manage their finances, particularly if they want to enjoy maximum financial flexibility without exceeding their budget. With your branding, a white label pre-paid card allows cardholders to ‘top up’ the card with funds and use it in-store, online or at an ATM. As a pre-paid card doesn’t offer credit facilities, cardholders remain in control of their funds and simply choose to top up the card as and when they need to.

White Label Virtual Cards

As technology evolves, new financial solutions become available and virtual cards are a great example of this. Instead of issuing a plastic card, companies can release virtual debit, credit or pre-paid cards that reside in a customer’s digital wallet. When a merchant accepts contactless payments, a virtual card can be used to fund a purchase (usually by the cardholder tapping their smartphone against the contactless payment terminal).

While virtual cards don’t offer all the functionality of a physical card, they are popular with cardholders who want to digitalise their finances and can be a great way to integrate your company’s branding with a new financial product.

White Label Payroll Cards

A white label payroll card works in a similar way to a white label pre-paid card, but employers simply load a worker’s wages or salary on to the card before it’s given to the worker. This avoids the need for Direct Debit transfers or cash in hand payments and enables workers to access their funds quickly, flexibly, and securely.

White Label Expenses Cards

Expenses cards can operate in various ways to suit the needs of your business. With pre-paid cards, you can limit employee spending, for example, while expenses debit cards give employers greater flexibility but allow you to set limits and keep control of company expenditure.

What Are the Benefits of White Label Card Issuing?

Before you consider whether white label cards are right for your business, it’s important to understand the benefits they can offer. To find out why white label card issuing is becoming increasingly popular, take a look at some of the advantages white label cards can offer:

Accelerated Launch

Registering as a card issuer, obtaining a licence, and launching your own cards from scratch requires a significant amount of input and resources. Not only will this detract from your core business activities, but it will delay the launch process. In contrast, white label card issuing allows you to introduce new products and services more quickly, so you can gain a foothold in the market before it becomes overly saturated.

Reduced Costs

Similarly, white label card issuing allows businesses to release branded cards without the costs associated with launching a card from scratch. Essentially, you’re adding your logo and branding to a tried and tested product, without having to go through the product development, testing, and regulatory requirements that you would otherwise have to contend with. The result? Lower costs and enhanced reliability.

Increased Revenue Streams

Branded white label cards allow your business to generate new revenue streams and increase your company’s profitability accordingly. With white label debit cards, for example, you can generate revenue when customers are charged a fee for using the card. Alternatively, white label credit cards allow you to develop a new revenue stream as you collect a proportion of the interest charged on transactions.

Enhanced Brand Visibility

Brand awareness and brand recognition are critical for any business and getting your brand assets seen is an important way of maximising brand visibility. When your white label cards are used in stores or at ATMs, there is no limit to the number of people who will see your company’s logo. As a result, you’ll enjoy increased brand awareness and enhanced brand visibility, which can have a direct impact on your company’s reputation and customer acquisition rates.

Build Customer Loyalty

When you have your own branded cards, you can determine what incentives to offer, in conjunction with your payment issuer. With white label debit cards, for example, you could offer cardholders reward points or discounts every time they use the card to make a purchase from your company.

This incentivises customers to continue engaging with you and encourages loyalty to your brand. As a result, you can boost retention rates and give your customer base yet another reason to continue using your products or services.

Seamless Functionality

The financial services industry relies on multiple players to facilitate every transaction. From merchants and card issuers to payment processers and card networks, there are numerous elements that come into play every time a debit, credit or pre-paid card is used.

Fortunately, they operate as a well-oiled machine 99% of the time but it only takes one cog to malfunction for the entire system to fall apart. By using white label card issuing services, rather than launching your own cards from scratch, you can take advantage of the established infrastructure that already exists and deliver seamless functionality, security, and reliability to your cardholders.

Improved Brand Reputation

Having your own branded cards enhances your company’s reputation and ensures your target audience sees you as reliable, professional, and dependable. This, in itself, can be a valuable way to broaden your brand assets and optimise your company’s reputation across a variety of industries.

White Label Card Issuing for Your Business

With a wide range of custom financial solutions, PayAlly helps businesses achieve their growth potential with white label card issuing, BIN sponsorship, and more. To find out how white label card issuing can be integrated into your operations, contact our experienced team now.