The Role of APMs for E-Commerce Businesses

Sep 28, 2020

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 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. 

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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