Alternative payment methods
Alternative payment methods are the possibility, were and services in other manner to pay than customary bank maps. The new technologies enable to customers to use the possibilities of Online-Banking, digital wallets and even smartphones to pay with biometric data what raises the popularity of alternative payment methods
APM can be divided into three groups:
The payment by bank credit transfer bets Ahead that the buyer confirms the transaction with an online bank. The popularity of bank credit transfers grows almost at the same speed like the popularity of electronic wallets. During the next five years you become more asked than plastic cards.
Wallet-based solutions. There are two kinds of Wallet solutions: Mobile operations and electronic change purses for online payments. E-Wallets offer a sure memory for transfers and payments to customers. They can charge your wallet in different kinds. The most popular electronic change purses are PayPal, Alipay. If you use a mobile device, the phone becomes basically a wallet. This payment method wins in popularity by the user friendliness of Apple Pay and Google Pay. Global mobile payments will probably lie more than 1 billion US dollar. The USA in 2019
There are two kinds of payment: The Prepaid maps which function on traditional platforms like visas and Mastercard, and Prepaid accounts which function as Prepaid maps, but beyond the credit card system function. To carry out the payment, you must charge the Cash in map in advance, and the means available on the map are really an expenses limit.
Why are alternative payment methods so important? Till 2019 55% of all online transactions with APM are carried out. If you do not offer to your customers the possibility to choose payment methods, you will probably lose sales.