Alternative Payment Methods

Expand your customers’ payment choices

In many countries, alternative payment methods (APM’s) are fast becoming the preferred way to pay. A high proportion of ecommerce growth is due to APM’s in comparison to debit and credit cards. Typically alternative payment methods are bank transfers, direct debits, e-wallet solutions, local card schemes, store cards and mobile payments.

Customers want to be able to pay using their preferred method when buying goods online and Secure Trading can help you fulfil your customers’ needs. We understand how important it is to offer your customers choice and in turn grow your business.

Benefits of offering alternative payment methods

  • Reach new customers
  • Reduce online cart abandonment
  • Increase conversions
  • Mitigate fraud
  • Increase trust with customers as familiar payment process

Why alternative payment methods are preferred

  • Trusted, tried-and-tested payment options
  • Localised language and currency
  • Convenient, simple, secure payment methods
  • Seamless shopping experience

Some of our alternative payment partners are illustrated below:

Alipay

Alipay is an e-wallet that belongs to the Alibaba group, supported by Alibaba, Taobao, AliExpress, Tmall and an increasing number of independent online stores. The customer is redirected from the online shop to Alipay’s platform where they log in and complete the transaction. The buyer chooses a product and makes the payment to the seller via Alipay; Alipay keeps the money in escrow and informs the seller that the buyer has made the payment; the seller sends the product to the buyer.

Countries used in:

China

AstroPay

AstroPay card is the easy and safe way to make payments online in LATAM.

Bancontact

Bancontact is a Belgian debit card with no chargeback risk (a unique feature for debit cards). After selecting goods or services, a consumer reaches the merchant’s checkout site. The consumer selects Bancontact and enters their card details. The transaction is redirected to the bank’s online banking site. The customer logs in, reviews the prefilled payment details and authorises the payment. Once the payment has been submitted, the merchant receives confirmation and the purchase can be delivered. Verification is done by TAN.

Countries supported in: Belgium

EPS

eps is an online bank-transfer payment method with a payment guarantee for the merchant. At checkout, the customer chooses eps, selects the name of their bank and logs into their online banking environment. They review the pre-populated payment details, authorise payment and then simply wait for the purchase to arrive.

Countries support in:

Austria

Giropay

Giropay is an online bank-transfer payment method which offers a payment guarantee to merchants. At checkout, the customer chooses the desired payment method, selects giropay and logs into their online banking. They review the pre-populated payment details, authorise payment and then simply wait for the purchase to arrive. Payment is completed in real time, free of charge.

Countries used in:

Germany

iDEAL

iDEAL is a real-time, online bank-transfer payment method offered by the Dutch banking community. It used to be based on a national standard but it migrated in 2015 to the SEPA standard. Consumers wishing to make payments using iDEAL select it as the payment method while placing an order online then select their bank. This opens the online banking application of the consumer’s own bank and displays details of their purchases. Payments are authorised in the usual manner and once the bank confirms the payment, the consumer is returned to the merchants’ website.

Countries used in:

Netherlands

Ikano

Ikano works with a wide range of high street names offering credit and loyalty services to their customers.

MyBank

MyBank is an online bank-transfer payment method with a merchant payment guarantee. At checkout, a customer can select MyBank and log into their online banking. The payment details are pre-populated allowing a customer to review and then authorise the payment.

More than 140 integrated banks with 12m consumers across Europe as of 2014.

Countries used in:

Italy, Luxemburg, Belgium, France

PayPal

PayPal is an e-wallet; an online service which can be used to make payments, rather than paying directly from the customer’s card or bank account. Customers can either load money on to their e-wallet or connect it to their bank accounts. They can then use it to pay online or – if they have that mobile app – in store.

Countries used in:

Global

PaySafeCard

paysafecard is a prepaid voucher. Once a paysafecard is purchased from a local retailer, the voucher can then be used to purchase online goods by entering the 16-digit pin on the paysafecard at a merchant website.

Countries used in:

Global

PAYU

PayU is an online bank transfer payment method. At checkout, the customer selects the name of their bank and logs into their online banking. The payment details are pre-populated allowing a customer to review and then authorise the payment.  PayU validates the transaction information through its fraud detection system.

PayU has over 99% coverage of banks in Poland where more that 44% of ecommerce transactions are completed via bank transfers. In the Czech Republic, PayU is linked to all major banks.

Countries used in:

Czech Republic, Poland

Przelewy24

Przelewy24 is a real-time online bank-transfer payment method. At checkout, the customer selects the name of their bank and logs into their online banking environment. They review the pre-populated payment details, authorise payment and then simply wait for the purchase to arrive.

Countries used in:

Poland

QIWI

QIWI is an ewallet allowing customers to make payments online without entering bank details into a merchants website. Money can be loaded onto the ewallet using bank transfer, card payment and using QIWI kiosks. Kiosks can be used to pay for online purchases and based in 175,000 locations with more than 40,000 vendors accepting cash payments through the kiosks.

Countries used in:

Belarus, Brazil, Jordan, Kazakhstan, Molodova, Romania, Russia, USA

SafetyPay

SafetyPay is an online bank-transfer payment method. At checkout, the customer selects SafetyPay and is then redirected to their online banking portal, where they authorise the payment. The customer then simply wait for the purchase to arrive.

Countries used in:

Brazil, Canada, Colombia, Costa Rica, El Salvador, Honduras, Guatemala, Mexico, Nicaragua, Panama, Peru

SOFORT Banking

SOFORT (which means “immediately” in German) is an instant online bank-transfer payment method which originated in Germany but is now established and popular in a range of European markets. At the merchant checkout, the user selects SOFORT Banking as the payment method of choice. On the following screen, the user reviews the order details and selects their bank from a drop-down menu. On the third screen, the user enters their online banking credentials. A one-time verification code is sent to the user’s pre-agreed preferred communication channel. The user enters the one-time code and the transaction is complete.

Countries used in:

Austria, Belgium, Czech Republic, France, Germany, Hungary, Italy, Netherlands, Poland, Slovakia, Spain, Switzerland, UK

Trustly

Trustly is a real-time bank transfer payment service. A customer can choose their bank from a drop-down list at checkout. The customer then completes their bank details whilst remaining on the merchants website. They choose the account in which they wish to pay and in some cases, receive a confirmation code to their registered phone number. They enter this code onto the merchants website to confirm and authorise the payment.

Countries used in:

Austria                 France                Malta

Belgium               Germany            Netherlands

Bulgaria               Greece                Norway

Croatia                 Hungary             Poland

Czech Republic   Ireland                Portugal

Cyprus                  Italy                     Romania

Denmark              Latvia                  Slovakia

Estonia                 Lithuania            Slovenia     Sweden

Finland                 Luxembourg      Spain          UK