APM (Alternative Payment Methods)

APM is an efficient payment mode for your customers. It is not always the easiest way out for your customers to make payment with credit cards. Especially while talking in terms of the growing e-commerce industry. The payment methods need to be as quick as ordering products. Therefore APMs can be a reasonable solution. Also, the benefits of it are broad.

So, as a merchant, you need to be aware of these payment methods. The benefits are vast. But merchants need to realize that risks associated with it are unique too. Hence, having a service provider like PayCly can help you to increase the chances of sales.

What is the APM?

APMs refer to any payment mode except a credit card, debit card, or cash payments. Some of the most popularly used alternative payment modes include mobile payments, bank transfers, prepaid cards, and e-Wallets. However, there are many other types of APM involving money orders and crypto-currencies.

If you have not adopted alternative payments yet or thinking of expanding your current options, here's why more customers are embracing APMs and the benefits your business getting:

Benefits of APMs

  • Increases sales
  • Access to a broader base of customer
  • Swift and efficient payment
  • Retain current customers
  • Increase independence
  • Reduced chargeback
  • Increased sense of the reliability of the customer- when processed smoothly and safely

Why is APM important?

In a nutshell, alternative payment methods make it more convenient and give them a choice they are looking for. It entitles people to pay in a way that suits them, so as a merchant, it's essential that you're able to offer a broad range of payment modes at the checkout point. That way, you can gain an edge over your competitors, who may only provide traditional payment forms.

While talking in terms of cross-border payments, alternative payment methods can help the companies enable seamless payment processing. While traditional credit cards will serve many countries, you may need to offer alternative payment methods to reach global customers.

Customers want a payment experience that's as hassle-free as possible. By offering them alternative payment methods, that's what you're providing. This is primarily important for the merchants thinking global expansion, ensuring that you have the right opportunity to connect with as many potential customers as possible on an international scale.

Increase your conversion rate

Providing a variety of payment modes, including alternative ones, allows your business a chance to engage with a broader audience.

It takes lots of time and resources to bring a customer to your website and encourage him to make a purchase. And at this stage, it is essential to allow him to pay the way he wishes to. Otherwise, you might lose a customer.

So, not seeing your customers walk out, make sure your site is equipped with APMs

Expand your online presence

APM is the best way for merchants to expand their online presence in the market. It becomes way easier to get the attention of customers with alternative payment methods worldwide. Offering them a local payment mode makes you their preferred choice.

In other words, APMs are the way to become internationally relevant.

Beat the competition

It becomes essential to offer customers their preferred payment modes to beat the competition when you are in a market where several merchants sell similar products. The payment mode you offer should be faster and more convenient for a generation of customers used to having everything at their fingertips. Offering only the basic way to pay will discourage the customers while giving them a choice will get you the opportunity to lead over your competitors.

Boost customer loyalty

Hackers are more tech-savvy now than ever. So, it's not surprising that people are getting hesitant to enter their card data while paying online. And it is in the merchant's favour to offer other ways to pay. Let your customer know that you know and understand their security concerns and are willing to fine-tune their experience.

Simplify the checkout process

People these days find filling out a credit card payment form hectic and an old-school way to make payment.

Since there are more straightforward payment solutions, consider adding them to your website to keep such one-click-to-pay-it-all clients.

Types of APMs

Cash-based payments (electronic cash or e-cash): When checking out online, customers choose a cash-based payment method and generate a barcode or unique reference number to identify their payment. The customer takes this printed out or on the screen of their mobile device to a participating retail location to pay in cash. Once payment is confirmed, the merchant ships the goods or credits the customer's account in the case of a service.

Real-time bank transfers: Customers can pay for goods and services online using direct online transfers from their bank account using this payment method.

Direct Debit: This payment method is commonly used for recurring payments. Consumers assent to giving a merchant the ability to pull funds directly from their bank account for an agreed service. Customers will get a notification from the merchant that the transaction will occur.

Domestic card schemes: Domestic card schemes operate similarly to Visa and MasterCard's global card schemes. The difference is that these cards will only be accepted in one or a few markets. These are often popular where available as they're tailored to consumers' unique needs in the market and can often provide merchants with lower processing costs.

Electronic wallets (e-Wallets): e-Wallets are a digital way to store funds. Customers load their e-Wallets with funds via bank transfer, card or cash and use them to make payments online, offline, and person-to-person and cross-border in some cases.

Mobile wallets: It is another electronic way to store funds, but this time on a mobile device. Customers load their mobile wallets via bank transfer, card cash, or through their mobile carrier. Making purchases, transferring money person-to-person and paying bills can be done electronically online, in-app or in-person via the contactless interface, via QR code, or SMS on a feature phone.

Pass-through wallets: Pass-through wallets are a digital way to store payment cards. They generate tokenized card numbers for each transaction. Many consumers consider these a secure, convenient way to shop online, in-app or in-store without revealing or typing out card details each time.


Online purchasing has become the most fundamental part of our daily life. It makes accepting new payment modes more essential. With the assistance of PayCly, it is way easier for both customers and merchants to buy and sell the products and services. We help all sort of industries, whether high-risk, low-risk, or mid-risk merchants, to get involved in alternative payment methods processing.

Above all, the financial market gets free from attackers seeking to make undeserved profit from the market. So, being with PayCly makes it easier and a risk-free environment for your business.