Beyond the Card – The Dominance of Alternative Payment Methods

Are you missing revenue by relying too heavily on card networks?

In a world where financial inclusion, digital wallets, and real-time transfers are reshaping the way money moves, one thing is clear: Cards are no longer king.

Your customers, whether they’re Gen Z consumers, small business partners, or global vendors, are embracing alternative payment methods (APMs) in a big way. And if you’re not offering those options? You’re losing out.

The Global Shift Toward APMs

Let’s look at where the market is heading:

• Digital wallets made up 49% of global e-commerce transactions in 2023, expected to hit 54% by 2026. (FIS Global Payments Report)
• Bank transfers, real-time payments, and account-to-account (A2A) options are growing fastest in Europe, Latin America, and APAC.
• BNPL (Buy Now, Pay Later) usage grew 30% YoY globally, with high adoption in the UK, Australia, and the U.S. (American Banker)
• Mobile money services saw 45% growth in Africa, offering new access points to unbanked populations. (GSMA State of the Industry Report)

Why Alternative Payments Matter for Enterprises

The rise of APMs reflects a global preference for:

• Speed: Instant settlements are becoming standard.
• Trust: Customers prefer familiar, local platforms over global card networks.
• Control: Real-time visibility and lower fees make APMs attractive to both consumers and businesses.

And critically for enterprise finance leaders: APMs reduce costs, lower fraud risk, and boost authorization rates.

What Happens If You Don’t Offer APMs?

The risks include:

• Prohibitive costs to enter new markets
• Lower conversions in key markets
• Higher payment failure rates
• Increased friction for mobile-first users
• Lost opportunities with under-banked or younger populations

Your business could be modern everywhere, except where it matters most: at the moment of payment.

Building an APM Strategy That Scales

To meet modern demands, payment strategies must include:

• Real-time payment rails (like RTP, UPI, and Pix)
• Digital wallet integrations (PayPal, Apple Pay, Alipay, and others)
• BNPL and Open Banking capabilities
• Country-specific innovations (e.g. PSE in Colombia, iDEAL in the Netherlands)

And most importantly, your tech stack needs to adapt fast, and integrate seamlessly, without requiring a full rebuild.

If your checkout is missing your customers’ preferred payment methods, how many sales are you missing too?

MassPay enables enterprise teams to integrate the right APMs for each market, quickly, securely, and at scale.

Let’s modernize your payment infrastructure.