Payment Service Providers (PSPs) have seen tremendous success in recent years by embracing cryptocurrencies as part of their payment offerings. By enabling merchants to accept digital currencies like Bitcoin, Ethereum, and stablecoins, PSPs have tapped into a growing market and driven significant increases in transaction volumes, customer engagement, and cross-border transactions.
However, while simply adding a crypto option has brought success, PSPs that want to truly elevate their business to the next level need to consider going beyond using third-party processors. By launching their own crypto payment service with a white-label solution, PSPs can gain full control over fees, branding, and customer relationships—opening up new revenue streams and building deeper merchant loyalty.
How Offering Crypto Payments Boosts PSPs’ Success
- Increasing Transaction Volumes: The global adoption of cryptocurrencies is soaring, with over 420 million crypto users worldwide in 2023. PSPs offering crypto have been able to expand their reach, especially in cross-border transactions, benefiting from faster and cheaper settlements.
- Tapping Into New Markets: By enabling merchants to accept crypto, PSPs have unlocked new customer bases, especially in regions where traditional banking is cumbersome. For instance, businesses in emerging markets can receive payments instantly from international customers without the high costs associated with traditional payment networks.
- Faster Settlements: Traditional payments, particularly cross-border, can take days to clear. Crypto payments, on the other hand, can settle within minutes, improving cash flow for merchants and adding value to the PSP’s service offering.
While these benefits are clear, PSPs using third-party crypto processors miss out on the full potential. They are simply middlemen in this arrangement, passing along transaction revenue and customer relationships to the processor.
Reclaim Control and Drive Growth: The Benefits of White-Label Crypto for PSPs
By launching a custom-branded, white-label crypto payment service, PSPs can reclaim control and enjoy the following advantages:
- Maximize Revenue: With a white-label solution, PSPs control transaction fees and eliminate middlemen. This means larger margins and more flexibility in fee structures, which can be tailored to attract more merchants while still maintaining profitability.
- Full Brand Control: With a white-label offering, the PSP owns the entire customer experience, from onboarding to payment processing. This builds trust with merchants and helps create a stronger brand presence, ensuring your PSP stands out in a competitive market.
- Expand Service Offerings: White-label solutions come with advanced features, such as instant settlements, multi-crypto support, and customizable compliance tools. PSPs can offer premium features to merchants, creating additional revenue streams through subscription-based or tiered service offerings.
- Faster Time to Market: A white-label solution allows PSPs to launch crypto services quickly without the need for extensive development. You can be up and running in weeks, positioning yourself ahead of competitors still relying on third-party processors.
Take Your PSP to the Next Level
By leveraging a white-label solution, PSPs can gain full control over their crypto services, maximize profits, and offer a superior experience to their merchants.
Ready to take your PSP to the next level? Contact us today to explore how our white-label crypto payment solution can elevate your business, increase your margins, and secure your place as a leader in the rapidly evolving payments space.
For more insights, explore our article “Bridging the Gap Between Traditional Banking and Crypto: IBAN Integration” which delves into the growing need for hybrid financial solutions.