Last Updated: 26 June 2024 | Change Log
What are Alternative Payments Methods (APMs)?
APMs are payment options that are not cash or credit/ debit cards issued by a major bank. These options include eWallets, bank transfers, direct debits, local card schemes, Post-Pay and eInvoice/ Buy Now Pay Later.
In many regions APMs make up a large part of the ecom payment landscape. To fully support these regions and your customers` payment habits, providing APMs can be key.
What are the benefits of APMs?
- Increased global coverage
- Choice and convenience for your customer
- Reach of customers and markets you couldn't with just cards
- Flexibility of payment options
- A more versatile checkout experience
- Potential reduction in payment friction
- Increased customer retention
