In a Nutshell: In today’s fast-moving, digital marketplace, companies are always looking for ways to keep an edge over their competitors. Part of this can be done with a secure, convenient, and efficient payments solution such as SDK.finance. The white label platform offers ultimate flexibility that allows it to be used for a wide variety of use cases across multiple industries. Any payments related products can be built on SDK.finance platform such as payment service providers, neobanks, money remittances and currency exchange services. This makes it possible to go to the market quickly instead of lengthy development from scratch. The platform also makes it easy to create effective customer loyalty programs that ultimately generate more income for clients.
The last decade has brought about major changes in how businesses operate, including their payment solutions.
More companies than ever are operating in a global marketplace and navigating the challenges that come with doing business across borders, including accepting credit card payments and being aware of local and international regulations.
And speaking of cards, credit and debit cards are just one of many payment options available these days. Businesses also have digital payments in the form of ETFs, third-party money transfer apps, and tried-and-true paper checks to deal with.
SDK.finance provides a white label platform that conveniently handles payments in today’s fast-moving and increasingly digital marketplace.
The company was founded in 2013 and has evolved over the years to become the modern, convenient solution that it is today.
“We know firsthand what it takes to develop real payments products,” according to the company. “SDK.finance is your proven technology partner.”
We recently spoke with Pavlo Sidelov, SDK.finance’s Chief Technology Officer, to learn more about the platform and what it brings to businesses looking for a reliable payments partner.
Sidelov said SDK.finance was built by a team of fintech experts with more than 15 years of experience in various parts of the industry.
Real Payments Products with a Wide Range of Use Cases
With its skilled team of developers, SDK.finance’s payment platform is suited for an array of uses that cuts across industries, Sidelov said.
Digital banking platforms are able to build neobanking products and launch them with ready-made software at much lower costs than other approaches.
SDK.finance also offers functionality to build e-wallets so clients can create their own products similar to Paypal or Alipay.
Of course, the platform facilitates both in-person and online payments as well.
“Accept payments in an offline store. Run a POS (point of sale) business or offer QR payments for your merchants,” according to SDK.finance. “Accept online payments — a complete stack for all your online payments acceptance business. Requires an integration with payment gateways.”
SDK.finance is also valuable for businesses that need the tools and infrastructure to build their own currency exchange businesses and even set up custom commission rates, according to the company website.
Sidelov said SDK.finance stands apart from many competitors because it offers much more to its clients.
“When we deliver our solution, we deliver it with the source code which is our advantage over our competitors,” he explained. “A lot of companies just provide their software as a service or out of the box, which can do nothing without developers. We distribute even the source code, so we are transferring our knowledge to the clients. This type of supply is best for enterprises and medium-sized companies with IT teams.”
“We also have an option to purchase a platform with a dedicated team for product development that eliminates the headaches of hiring and managing IT guys,” Sidelov said. “It is best for medium-sized companies without IT teams.”
He added that SDK.finance also offers ongoing support for clients who use the platform.
And the fully digital onboarding process is secure and convenient, he said.
Card-to-Card Payments for Domestic and International Money Transfers
Companies like SDK.finance are making it much easier for businesses to build convenient systems to handle money remittances.
A remittance is defined as a transfer of money to pay for goods or services, or sent as a gift. But for years, migrants have used remittances to transfer money back to their families in their home countries. Traditionally, the process can be very time consuming and costly.
In some countries, people may wait in long lines to send money back home, only to be charged with high fees that significantly reduce the funds that make it to the intended receiver. On the other end of the transaction, family members can wait hours in line for funds. In some cases, a person may have to wait in line for most of the day.
SDK.finance’s platform allows for companies to build modern, digital transfer systems that save time and money, and these savings are transferred to the people using the services.
“It offers huge, huge potential for a number of alternative services because of the payment functionality,” Sidelov said. “It makes it simple to transfer money from one point to another point. Then the payment service provider approves this money for a bank account or the merchant.”
This is all done quickly and conveniently, so SDK.finance clients and their customers don’t have to worry and can transfer money knowing it is a secure transaction.
Clients can determine the avenue through which to facilitate the transfer, including via credit cards. It’s simple card-to-card payment functionality allows people to immediately transfer money between any type of cards, including those issued by different banks, according to the company.
This method offers real-time currency exchange rate tracking for domestic and international money transfers.
This is all made possible by SDK.finance’s adept development team, Sidelov said. And customers can, of course, receive the full source code so they can have full control over the whole product, infrastructure, and data.
For those who may be less inclined to dive into the complexities of the source code, the company also lets clients set their preferences without coding with its SaaS solution.
“Configure your product instead of coding,” according to SDK.finance. “Cut time-to-market. Regular product updates by the vendor according to the market. Pay-as-you-go pricing.”
Facilitating Loyalty Programs
Another important product SDK.finance makes possible for its clients is a loyalty program.
“We have a special component loyalty subsystem which is very powerful,” Sidelov said. “Businesses should build these products such as loyalty programs. They should be saying, ‘We want to do this, this, and this,’ because it’s quite a simple scenario to build customer loyalty.”
Sidelov said there are a number of ways to create effective loyalty programs that deliver real value to customers.
“They can create a cash back initiative. When you buy something from the merchant you immediately get 5% cash back,” he said. “A merchant may be interested in selling you something and they earn 25% or 50% profit from the purchase, and with a quality loyalty program, they can share that cash back immediately.”
Of course, all of this comes with simple user management via SDK.finance’s expert platform.
“Complete control over user identities — manage registration, authentication, onboarding, password resets, blocking, and removal,” according to the company. “Make the right decisions with powerful dashboards that generate real-time insights about your business performance.”
Clients can essentially build their own fintech ecosystem by connecting buyers and merchants and earn using flexible in-system fees.
The SDK.finance platform can even facilitate transactions via QR code.
The technology can also encourage user engagement and loyalty simply by providing convenience and transparency with push notifications.
“Instant push notifications for all account activity, including payments, deposits, and withdrawals to let your clients always know what’s going on with their money without opening the app every time,” according to the SDK.finance website.
Companies searching for a modern payments solution that offers nearly endless possibilities for uses in an array of industries may want to consider SDK.finance.