Private label credit cards are cards branded for a specific retailer, independent dealer or manufacturer. If the retailer does not manage the private label card, a third-party issues the cards and collects the payments from cardholders. Terms and conditions for private label credit cards are made by contracts between the retailer and the third party. Retailers prefer to have their own card because it offers customers another way to shop with them, thus increasing sales.
Private Label Cards are NOT processed like a regular credit card even though you select it in Options as an available Credit Card. PL cards do NOT go through payment gateways for processing like major credit cards. They are accepted as-is and passed as Unpaid in the order exports. You are responsible for processing the Private Label Cards at time of fulfillment.