Are you running an e-commerce business and need to integrate alternative payment methods (APMs) into your payment gateway? This article provides insights into the topic so you can grow your business with success.
AMPs for E-Commerce Businesses
Alternative payment methods play a vitally important role in growing your business, both locally and globally. The growth of APMs is based on the fact that more and more consumers are switching to online shopping experiences.
Increasingly, APMs are turning into the mainstream across the world, and this is going to become more vividly expressed as the online payment method ecosystem go on developing. This means working with a respectable merchant services provider is gaining more importance.
Thankfully, there are respectable merchant processors like eMerchantBroker.com that offer the most advanced, safest and cheapest payment processing services in the field so e-commerce businesses can without major challenges. EMB, ranked as the top high risk processor in the U.S., carries an A+ rating with the BBB.
The Importance of APMs
As a merchant, you must be interested in offering various payment options at the online checkout, mustn’t you? That’s where APMs step in. They’re playing an increasingly significant role in payments since customers need more choices and more convenience when it comes to online payment transactions.
Over ½ of all global e-commerce payments are associated with APMs, thus turning APMs into something more than just alternative payment methods. Thanks to APMs, you can enjoy higher flexibility and be able to integrate a wide range of payment options. This way, you can better satisfy your customers’ needs.
Did you know that 55% of the e-commerce payments worldwide were completed via APMs? This implies that over ½ of transactions are associated with payment methods such as Klarna, Revolut, PayPal, Neteller, and Skrill instead of traditional options, including Visa and MasterCard. By the way, prepaid cards, money orders, and bank transfers represent some common APMs. Be aware that Google and Apple Pay are also growing fast.
So, APMs are gaining more traction among e-commerce business owners. The reason has to do with the growing importance of online payment processing. APMs provide you with a fine opportunity to acquire and retain customers in the increasingly competitive payments industry.