Alternative Payments

What is Alternative Payments and what do they do?

Alternative Payments is a payment service provider that specializes in offering diverse payment methods beyond traditional credit and debit cards. They facilitate transactions by enabling merchants to accept various forms of payments, including digital wallets, bank transfers, and local payment methods tailored to specific regions. The main offering encompasses a seamless payment processing solution that is geared towards optimizing cross-border transactions and enhancing the customer experience.

Alternative Payments aims to meet the evolving needs of global consumers by providing a comprehensive payment platform that supports multiple currencies and payment methods. Their services are designed to streamline payment acceptance for merchants, maximize transaction approval rates, and reduce the complexities often associated with international payments.

Who is it for?

Alternative Payments serves a broad spectrum of industries and business types including e-commerce, travel, online gaming, and subscription-based services. It primarily caters to businesses that operate in regions with unique payment preferences or those seeking to expand their market reach by accepting alternative payment methods popular in specific locales.

The platform is particularly relevant for merchants targeting customers in Europe, Asia, and Latin America, where local payment methods such as iDEAL, Bancontact, or Klarna are favored over traditional card payments. This focus allows businesses to tailor their offerings to the demands of their target audience, thereby enhancing conversion rates and customer satisfaction.

Why do businesses choose Alternative Payments?

Businesses choose Alternative Payments for several verified strengths and benefits that enhance their payment processing capabilities:

• Diverse Payment Options: It supports a wide range of payment methods, enabling merchants to cater to different customer preferences and increase transaction approvals.
• Global Reach: Alternative Payments allows businesses to expand their operations internationally by accepting local payment methods in various regions.
• Enhanced Conversion Rates: The flexible payment solutions can lead to higher conversion rates, as consumers are more likely to complete transactions using familiar payment methods.
• Seamless Integration: The integration process is designed to be straightforward, minimizing the technical burden on businesses and speeding up the time to market.
• Reduced Chargebacks: By providing localized payment options, businesses can lower the incidence of chargebacks and fraud, which is a common issue associated with international transactions.

Businesses using Corefy can simply obtain a MID from Alternative Payments and connect it to Corefy’s dashboard in a few clicks, without dealing with any integration work.

Is Alternative Payments trustworthy?

Alternative Payments maintains compliance with international security standards and regulations to safeguard transaction data. The firm is known for employing robust security measures such as encryption and tokenization to protect sensitive customer information. Additionally, the company adheres to the Payment Card Industry Data Security Standard (PCI DSS), ensuring that all card transactions are processed securely.

While specific details regarding licensing may vary, the company operates within regulated frameworks across the regions it serves, emphasizing its commitment to maintaining trust and security in the payment ecosystem.