If you are a merchant conducting (most of) your business online, you have undoubtedly heard about Alternative Payment Methods or APMs. But what is an APM? What is it an alternative to? And how, where and when are they used? Check out our video to find out!
What is an APM?
An APM is an Alternative Payment Method. These payment methods are used as an alternative to traditional card transactions when making online purchases.
The most common alternative payment methods are e-wallets, prepaid cards, vouchers, bank transfers, phone and mobile payments, checks, money orders and cash payments.
Most payment methods cater to a domestic economy and are supported by local banks. However, there are some examples of APMs that cater to lots of different locations. Each alternative payment method has its own unique application and settlement process, language and currency support, and is subject to domestic rules and regulations.
For more information about Alternative Payment Methods, please refer to our web site.