Remittance as a Service RaaS
White labels (private labeling) has long been a widespread strategy in retail, where products are made by third-party manufacturers and sold under a retailer’s name. The manufacturing cost is much lower, resulting in higher margins and increased revenue for sellers. China learned that early on and grew its manufacturing sector tremendously.
Possibly the biggest benefit of private labels is that they eliminate the cost and pains of having to design and build a new product or service — especially when entering a new market. By outsourcing the entire process and leaving those details to the experts, sellers can focus on what they excel at: branding and marketing the finished product or service.
Because the advantages of this strategy are so multidimensional, it’s no wonder private labeling is growing in service-based industries. Digital services that require technological innovation and constant updates are taking white labeling to another level. And when regulation and licensing are involved, the benefits become huge. Businesses looking to develop new offerings can now easily outsource entire technology stacks and costly regulatory and compliance management.